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Aggregate Demand includes consumption, government investment, net exports and investment. Lower interest rates will make it less attractive for consumers to save, as the returns they will receive on their...
They might want to check if the price elasticty of demand for the good is elastic or inelastic. If it were elastic then the percentage change in price would be smaller than the percentage change in quanti...
First one must understand the effects of a change interest rates has, If interest rates fall, we would likely see an increase in levels of consumption as people do not receive such a great return from int...
Price Elasticity of Demand (PED) is a measure of the responsiveness of demand to a change in price. A PED of -0.5 suggests demand is price inelastic – as Price falls by 1%, Demand will increase by 0.5% (l...
In practice it is unlikely that the conditions of a perfectly comeptitive market will exist, however these conditions are set as:
Many buyers and sellers in the market
...
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