Economics 7136/3 June 2019

The paper examines economic principles and applied issues. Section A addresses core microeconomic and macroeconomic concepts, including monopolistic competition, market failures, externalities, supply-side policies, utility maximization, and the multiplier effect. Topics like the Gini coefficient, labor productivity, and inflationary trends highlight resource allocation and income distribution. Section B investigates housing market dynamics in the UK, focusing on affordability, price determinants, and government intervention. Themes include housing supply-demand imbalances, public spending, and socioeconomic impacts of market inefficiencies. The paper emphasizes data interpretation, analytical reasoning, and the application of theoretical frameworks to real-world economic challenges.