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Aggregate demand is the sum of all the consumption, investment government spending and net exports within an economy (AD=C+I+G+(X-M)) An increase in this is seen as typically beneficial as for example an ...

The introduction of an indirect tax increases the firm's costs of production. Therefore, as there is a change in the determinants of supply, the market supply curve shifts to the left. This results in a n...

graph explanation, look at excess supply and excess demand, how increasing demand will lead to an increase in price and an increase in supply will lead to a decrease of the price. This will always converg...

A monopoly is a relatively simple market structure. One firm is the single producer for the market, or serves the majority of customers. For this to occur there must be some kind of barrier which stops ot...

Common access resources are resources which are not owned by anyone, do not have a price and are available for anyone to use without payment. They are rivalrous but non-excludable. Since they are free and...