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Economic growth is defined as an increase in the productive potential of an economy. It is measured in percentage growth of GDP (Gross Domestic Product), year on year. India's rate of economic growth i...

A tariff is a tax imposed on imports or exports. Tax is an expense and hence increase the price of the goods and services. As price increases, demand decreases. Consequently, suppliers are discouraged ...

Businesses have many different costs to pay when running. We can categorise these costs into different categories, such as direct and indirect costs....

A movement along the demand curve is caused by a change in price only. If price decreases, quantity increases and demand is said to have extended or expanded. If price increases, quantity decrea...

There are many causes of unemployment. First, it takes a while for workers to find a job and it takes time for firms to find adequate workers.

Minimum wages can also increase unemployment...