This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.

Specification:

  • Market failure, demand & supply, subsidies, basic economic problem, sustainability

Click to read the article below and then answer the questions:

North-south divide emerges as UK electric vehicle sales hit record high

  • Distinguish between:

  1.  Marginal private cost;

  2. Marginal social cost; and

  3. Marginal external cost

  • ‘The UK government wants to end the sale of petrol and diesel cars by 2030.’ Identify the market failures associated with petrol and diesel car journeys

  • Using a market failure diagram, analyse the effect of the government’s consumer plug-in grant for electric vehicles

  • ‘It’s a massive ambition to get the entire market and if you are going to achieve this, you need to use every lever at your disposal.’ Discuss the pros and cons associated with the switch to an electric vehicle

Gavin Clarke, Emmanuel College

Copyright The Financial Times Limited 2023. All rights reserved.
Reuse this content (opens in new window) CommentsJump to comments section

Follow the topics in this article

Comments

Comments have not been enabled for this article.