hey guys, i wonder what you can come up with from these questions:

1. Britain now has some of the highest taxes on petrol in Europe. Examine the impact on consumer demand for car, bus, and train travel of a further increase in the costs of motoring. In your answer, you should make use of economic concepts such as supply and demand, price elasticity, and income elasticity.

2. If the main stated objective of taxation is to discourage consumption of petrol rather than to raise revenue for the government, what does this imply about relevant price elasticities? Why are some commentators skeptical about the effectiveness of the policy on petrol consumption? Explain using clearly labeled diagrams.

3. The government is committed to reducing the prices of cars sold in the UK. Part of this pledge is a promise to force car producers to offer private consumers the same price discounts given to fleet buyers. Explain why it is in the interest of the car manufacturers to charge different prices to different buyers. Why have fleet buyers been able historically to pay a lower price than individual car buyers?

4. The Millennium Dome has been an unmitigated disaster, yet up to the end of 2000 the government continued to inject more money into keeping it open, despite calls from many politicians to close it before the end of the year. Explain, using economic concepts such as revenues, costs, and profitability, why the government’s decision may have been valid

have a go XD

no takers? too difficult or too long? or just not interesting

no takers? too difficult or too long? or just not interesting

Looks like a homework assignment to me. Otherwise, I would comment.

Yes it does look like a homework assignment. So you have to do it yourself.

One hint: Probably the government thinks, raising gas tax is easy and fills the tax coffers. But hoping that reducing car prices will balance out the unhappiness of the public on the tax issue.

Keeping energy price low helps develop the economy (USA style). Heavily taxing energy is never a good idea because people are already frugal in their mini coopers in a tiny country. It just puts economic pressure on the poor and middle class. Rich do not care about taxes, they will have their Rolls anyway.

The Millennium Dome or The O2 should be developed Las vegas style with Super Casinos so that the government can get out of maintenance.

Las Vegas income just from tourism is US$39 Billion per year. I am sure The O2 can bring in a lot if done correctly