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Monetary policy is the use of the interest rates to influence aggregate demand and therefore influence GDP. Interest rates are the rates at which borrowers are charged or lenders paid for their loan, the...
These factors lead to an actual shift of the demand curveDisposable Income (normal and inferior goods)The price of other products (substitutes, complements, unrelated goods)Taste & PreferencesOther f...
Suppose the Italian government wants to curb consumption of international cigarettes, such as Marlboro, that are imported from countries like the United States. They may implement a protectionist measure,...
5 minutes reading time is essential when it comes to IB Economics, whether SL or HL. In those 5 minutes, you may not write anything, but you should start by picking out the key terms from each question a...
Market structures are models used by economists to represent the conditions of the market of particular goods. The answer to the question lies in one of the assumption to be made in the model of perfect c...
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