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A market equilibrium occurs when the buyers and sellers in the market are satisfied.We can also think about an equilibrium in terms of supply and demand. Let's think about a market for Fanta cans, w...
10 mark questions require 2 KAA paragraphs with 2 1 mark ev points. This question would involve an extractI will teach my students to use a bullet point system to plan and to think of every answer a...
The Kinked Demand Model is used by economists to explain price stability in ologopolistic markets (markets with only a few large firms, such as the cinema industry). It shows how prices normally remain st...
Boost aggregate demand. This is used to compensate for dramatic drops in consumption or investment in an economic crisis as these are both large and volatile components of AD, e.g. government stimulus pro...
Poor diets in the U.K. are likely to involve two types of market failure – the overconsumption of demerit goods (that consumers do not fully understand the costs of, such as sugar, fat and salt) ...
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