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Cost push inflation is the result of an increase in the price of the factors of production e.g. labour, raw materials. For example, an increase in the pr...

GDP (output) is affected by consumption, investment, government spending and net exports. A fall in the interest rate have a varying effect upon each of these. Consumption is likely to increase as sav...

Macro economics is the larger picture, how the economy works for the whole country or region. Micro economics examines how things work in a smaller level, examining one industry, business or group of invi...

Business cycles are short-run fluctuations in the economy's GDP, around the long-run trend rate of growth.
Over each business cycle, the economy will first go through a period of expansion, unti...

There is an inverse relationship between price and quantity demanded. When the price is low, high quantities are demanded and vice versa when the price is high; for all goods which are not giffen good...