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A production possibility frontier (PPF) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed
A production possibility frontier (PPF) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed
When can game theory be used to good effect in A level economics essays? You would normally use game theory at A2 level when discussing the market structure of oligopoly. But in fact there are many other instances where you might be able to apply game theory to topics contained within the A2 syllabus – this revision note tries to provide you with a few ideas!
What is consumer surplus? When there is a difference between the price that you pay in the market and the value that you place on the product, then the concept of consumer surplus becomes a useful one to look at. This is an important idea that you can use on many occasions in your exams.
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What is consumer surplus? When there is a difference between the price that you pay in the market and the value that you place on the product, then the concept of consumer surplus becomes a useful one to look at. This is an important idea that you can use on many occasions in your exams.
Market structure is best defined as the organisational and other characteristics of a market. We focus on those characteristics which affect the nature of competition and pricing – but it is important not to place too much emphasis simply on the market share of the existing firms in an industry.
What is the kinked demand curve model of oligopoly? The kinked demand curve model assumes that a business might face a dual demand curve for its product based on the likely reactions of other firms to a change in its price or another variable
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What is the circular flow? The circular flow of income and spending shows connections between different sectors of an economy
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Protectionism represents any attempt to impose restrictions on trade in goods and services
A production possibility frontier (PPF) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed
Cross price elasticity (XED) measures the responsiveness of demand for good X following a change in the price of a related good Y.
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Looking for assignment help economics? Our expert tutors provide top-quality assistance to help you achieve better grades. Contact us now for economics assignment help!
Cross price elasticity (XED) measures the responsiveness of demand for good X following a change in the price of a related good Y.
Cross price elasticity (XED) measures the responsiveness of demand for good X following a change in the price of a related good Y.
Alicia Fourie Demand Supply Economics Elasticity Utility
Cross price elasticity (XED) measures the responsiveness of demand for good X following a change in the price of a related good Y.
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A recession refers to a time when the economy shrinks instead of grows. This infographic will let you know the aspects of economic downfall in detail.
A production possibility frontier (PPF) shows the maximum possible output combinations of two goods or services an economy can achieve when all resources are fully and efficiently employed
