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 Shifts in the supply and demand curves are only caused by changes other than price changes. 

Price changes only cause a movement along the demand or supply curve. This is because at higher price l...

Marginal cost (MC) is the extra cost incurred when one extra unit of output is produced. Average product (AC) is the total cost per unit of output. When the MC is smaller the AC, the AC decreases. This is...

One crucial constraint to economic growth and development in developing countries may be human capital inadequacy. For example, only 2.3% of India's population is classified as skilled, with only 44% of t...

A public good has two characteristics that separate it from being a private good; non-rivalry and non-excludability. Non-rivalry means that your consumption of that good does not reduce the amount that an...

Producing a "chain of reasoning" in your answers is one of the more difficult requirements of the A level Economics syllabus. It is important when explaining your answers that you make clear and...