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The labour market is a factor market, which is a market where the factors of production are traded. The supply of labour comes from the pool of economically active citizens who want to be employed. Labour...

Starting with the curves themselves, we have a downward sloping demand curve as more people are willing to buy at lower prices. Conversely, seller will be willing to offer more goods for sale as the price...

Inflation is the continuous increase in prices over time which can erode the value of money over time if left unchecked. This is the reason why the central bank has an interest in controlling inflation an...

There are two types of inflation. The first, cost-push inflation, is where the RPI rises due to increased costs for firms across the macroeconomy. This could be down to a rise in the cost of imported raw ...

Price discrimination is when the same product is sold in different markets at a different price.It is a way for the firm to maximise its profits from more efficient pricing by charging each producer the m...