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Price discrimination is where firms charge a different price to different consumers for the same good for reasons other than cost. There are three degrees. First degree PD is where the seller knows the...

Effective use of graphs is almost guaranteed to bring you extra points in the exam. There are a few things to help you use them well.1) Use relevant graphs. There is no point, for example, drawing a Deman...

When responding to a data-based question, there are a few things to which you need to pay attention:1) When reading the text, highlight the most important point: who is arguing a point, statistics provide...

Profit maximising is where a company sets a price and quantity that gets the company the highest profit possible. Profit maximising tends to occur in markets with low competition where the companies ha...

Inequality is present in income, opportunity and wealth amongst others. Income inequality is the most common form of inequality and it takes into consideration the difference in incomes amongst individ...