Over a million students use our free study notes to help them with their homework
iPhones and Samsung phones can be considered close substitutes, i.e. if the price of one increases, consumers may wish to switch to the cheaper alternative. This means the demand for the substitute will r...
A negative externality of consumption is when the consumption of a good or service results in negative effects to the third party. An example of this is smoking cigarettes. The consumption of a cigarette ...
In the labour market we have two components: the "demand of workers" by the firm and "the supply of workers" who are actually the workers themselves. How do frims demand for workers? T...
Demand is the amount a consumer is willing and able to purchase a good or services for at various prices at a given point in time. A rise in the incomes of households would mean they have more disposable ...
Total revenue is maximised where the downward sloping marginal revenue curve cuts the x-axis. This makes sense when we realise that 'marginal' means 'of an additional unit'. So, total revenue is maximised...
←
154
155
156
157
158
→
Internet Safety
Payment Security
Cyber
Essentials
