Mark Johnston
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Mark Johnston
@econfix.bsky.social
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Giffen Goods theory with indifference curves
econfix.wordpress.com/2025/11/11/g...
Giffen Goods theory with indifference curves
A Giffen good is a highly theoretical model that rarely occurs in the real-life economy. They are a type of inferior goods in the broad sense. In a narrower sense, Giffen goods are differentiated f…
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November 11, 2025 at 8:18 AM
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Coventry City charges high ticket prices for away fans
econfix.wordpress.com/2025/11/10/c...
Coventry City charges high ticket prices for away fans
Championship football club Coventry City have decided to set ticket prices for the Championship game against West Bromwich Albion later this month and the Boxing Day match with Swansea City at £45.…
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November 10, 2025 at 9:13 AM
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A2 Economics multiple-choice: Long-Run Average Cost – Envelope Curve
econfix.wordpress.com/2025/11/09/a...
A2 Economics multiple-choice: Long-Run Average Cost – Envelope Curve
Another post geared towards the A2 Economics multiple-choice exam next week. Long-run and short-run average costs curves are a popular question in CAIE Economics Paper 3. In the short run at least …
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November 9, 2025 at 1:33 AM
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A2 Revision – Impact of an increase in variable costs in monopolistic competition.
econfix.wordpress.com/2025/11/05/a...
A2 Revision – Impact of an increase in variable costs in monopolistic competition.
With the A2 multiple-choice paper over the next few days you should note that the impact of an increase in variable costs in monopolistic competition. The graph can throw up a variety of questions …
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November 5, 2025 at 9:20 AM
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Exchange rates and make Argentina great again.
econfix.wordpress.com/2025/11/04/e...
Exchange rates and make Argentina great again.
Useful video from the WSJ if you are teaching exchange rates. Argentina has a history of debt defaults, inflation, exchange‑rate volatility; the $20 billion package is portrayed as partly economic …
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November 4, 2025 at 10:13 AM
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CIE and NCEA Level 3 revision – Natural Monopoly
econfix.wordpress.com/2025/11/03/c...
CIE and NCEA Level 3 revision – Natural Monopoly
In the A2 multiple choice paper (P3) and the NCEA Level 3 Marginal Analysis, natural monopoly is a popular topic . Here are some thoughts on the types of questions they could ask on natural monopol…
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November 3, 2025 at 1:45 AM
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Tobacco company profits and price elasticity of demand
econfix.wordpress.com/2025/10/29/t...
Tobacco company profits and price elasticity of demand
The tobacco industry has not been disappointing investors even with the number of people giving up smoking. If you invested US$100 in US tobacco companies you would make a return of US$165. This is…
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October 29, 2025 at 8:54 AM
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A2 Economics multiplier: multiple-choice question
econfix.wordpress.com/2025/10/26/a...
A2 Economics multiplier: multiple-choice question
Another example of a past Paper 3 question which has been quite popular in the last couple of exam sessions. I have changed the data from the original CAIE question. The table shows the values of s…
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October 26, 2025 at 8:52 AM
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Copper prices surge – supply and demand
econfix.wordpress.com/2025/10/25/c...
Copper prices surge – supply and demand
The price of copper has increased by over 14% compared to last year and a tonne of the commodity is now $10,600. According to The Economist the 3 reasons for its increase are supply, demand and eco…
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October 25, 2025 at 9:06 AM
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Subsidy Graph – NCEA economics 3.1 and AS multiple choice
econfix.wordpress.com/2025/10/22/s...
Subsidy Graph – NCEA economics 3.1 and AS multiple choice
The NCEA Level 3 and AS multiple-choice paper are coming up and a popular question is either a subsidy or indirect tax question. Below is a typical subsidy graph and the question usually asks stude…
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October 22, 2025 at 9:34 AM
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AI boom or bubble?
econfix.wordpress.com/2025/10/15/a...
AI boom or bubble?
Artificial intelligence is driving a wave of corporate investment unlike any in decades, with forecasts calling for $500 billion in global AI spending by 2026. Experts describe this as a “cap…
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October 15, 2025 at 8:37 AM
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A2 and NCEA Economics Revision- Monetary Policy
econfix.wordpress.com/2025/10/12/a...
A2 and NCEA Economics Revision- Monetary Policy
With the A2 essay paper this week and the NCEA Level 3 exam next month, below are a couple of mindmaps looking at monetary policy. Monetary policy is the process by which the monetary authority of …
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October 12, 2025 at 8:43 AM
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Economics revision – approaching data response questions
econfix.wordpress.com/2025/10/06/e...
Economics revision – approaching data response questions
The AS Level Paper 2 is tomorrow so below are some thoughts on approaching the data response. These questions are all about deep reading of the extract and interpreting the data/graphs. On too many…
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October 6, 2025 at 6:19 AM
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AS economics revision – elasticity of supply
econfix.wordpress.com/2025/10/01/a...
AS economics revision – elasticity of supply
This topic can be part of an essay question in Section B of Paper 2 at AS level – the focus is usually on the usefulness of PES. It refers to the ability of producers to adjust supply to a ch…
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October 1, 2025 at 9:24 AM
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A2 Economics – Perfect labour market and monopsony with a minimum wage.
econfix.wordpress.com/2025/09/25/a...
A2 Economics – Perfect labour market and monopsony with a minimum wage
Currently doing Cambridge A Level revision courses for the Association of Cambridge Schools New Zealand (ACSNZ) and today we went through the labour market. Marginal revenue productivity (MRPL) is …
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September 29, 2025 at 9:02 AM
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Cardboard packaging as an economic indicator
econfix.wordpress.com/2025/09/29/c...
Cardboard packaging as an economic indicator
Cardboard packaging often goes unnoticed, yet it is the backbone of the supply chain, with everything from groceries to heavy machinery passing through a box before reaching its destination.A decli…
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September 29, 2025 at 9:01 AM
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How to write AS and A2 essays in Economics
econfix.wordpress.com/2025/09/23/h...
How to write AS and A2 essays in Economics
A timely reminder about essay writing for economics as we approach the October external exams. Below is a mindmap on economic systems (market economy) which could be useful as an essay plan. I have…
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September 22, 2025 at 11:25 PM
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A Level economics revision – the natural rate of unemployment
econfix.wordpress.com/2025/09/21/a...
A Level economics revision – the natural rate of unemployment
The natural rate of unemployment is part of the Cambridge A Level course and is usually found in a multiple choice question or essay. Below is a useful video from Marginal Revolution University. Th…
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September 21, 2025 at 10:04 AM
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AS Economics Revision – Income Elasticity of Demand graph
econfix.wordpress.com/2025/09/19/a...
AS Economics Revision – Income Elasticity of Demand graph
Here are some revision notes on YED which might be useful for the CIE AS Economics exam in a few weeks time. Quite a few of the class had never come across this graph which is popular in multiple-c…
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September 19, 2025 at 8:42 AM
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Positive externalities of nature in Australia
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Positive externalities of nature in Australia
Nature in Australia is vital economic infrastructure. When the value of non-market ecosystem services—such as climate regulation, water purification, pollination, and flood protection—is included, …
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September 16, 2025 at 10:29 AM
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Overtourism and negative externalities
econfix.wordpress.com/2025/09/13/o...
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September 13, 2025 at 9:46 AM
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A Level Economics Revision – National Income
econfix.wordpress.com/2025/09/10/a...
A Level Economics Revision – National Income
GROSS DOMESTIC PRODUCT (GDP) – Under new definitions introduced in the late 1990s, Gross Domestic Product is also known as Gross Value Added. It is defined as the value of output produced wit…
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September 10, 2025 at 11:42 AM
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Developing countries move out of US$ debts
econfix.wordpress.com/2025/09/06/d...
Developing countries move out of US$ debts
Interest payments on developing countries loans have in some cases exceeded 10% of revenues. This surge in public debt servicing costs is alarming, limiting budgets in these countries. In 2023, a h…
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September 6, 2025 at 9:10 AM
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A Level and NCEA Economics – monopolistic competition
econfix.wordpress.com/2025/09/02/a...
A Level and NCEA Economics – monopolistic competition
With NCEA and CIE practice exams approaching, below is a mindmap about monopolistic competition which will hopefully help with revision of the topic. Adapted from Susan Grant – A Level Econom…
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September 2, 2025 at 10:27 AM
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Role of Price Elasticity of Demand – Wall Street Journal
econfix.wordpress.com/2025/08/31/r...
Role of Price Elasticity of Demand – Wall Street Journal
Below is a very good video from the Wall Street Journal on price elasticity of demand (PED). PED is key to understanding how companies price their products. Consumer spending has held up relatively…
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August 31, 2025 at 10:11 AM