List of Diagrams

There are lots of diagrams to be familar with in Economics. This section has a collection of video tutorials taking you through the drawing of the diagrams. Some assume that you understand key topics so make sure you read the description and watch them in the right order if you are unsure. There is a list of all the diagrams below you can click on or you can scroll down to see them all.

Tuesday, 03 December 2013 16:52

Demand and Supply - Types of Tax

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Direct taxes on income affect the demand curve as consumers have less money to spend, whereas indirect taxes on spending are charged to firms, increasing their costs and so affect the supply curve. They will, of course, pass some of this increase in costs on to consumers. It is important that you think about which tax to explain and that you explain the diagram, rather than just describing it.

This video tutorial guides you though drawing and explaining the impact of taxes on a market and considers the difference between the two types of indirect tax (specific or per unit taxes and ad valorem or percentage tax). These diagrams have not been drawn for any particular good or service but it is important that you consider the good in question as this will effect the price elasticity of demand.

The tutorial assumes that you are comfortable with drawing demand and supply diagrams. If you are not it would be best to take a look at this tutorial or this article on demand and supply diagrams before watching.

Unfortunately at the moment the tutorials are only available using flash so they may not work on mobile devices.

 

Read 2238 times Last modified on Tuesday, 05 May 2015 15:54
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