Economics class video: Can UK childcare be fixed?
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Specification:
Demand and Supply, Labour Markets, Market Failure, Government Intervention,
Government Failure
Click to watch the short video below and then answer the questions:
Using the video and your own knowledge, analyse why the price for childcare is so high in the UK and especially in London
How does the high cost of childcare lead to labour immobility and how does that affect the UK economy?
Using the data in the video, discuss the private benefits and social benefits of cheaper childcare
Explain using a diagram how subsidies should reduce the cost of childcare
Apart from subsidies, what other types of government intervention could be used to provide cheaper childcare; and discuss the type of government failure that might arise from these
Gavin Simpson and Pete Clift, Economics In Ten podcast
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