One of the first topics that we look at in the Microeconomics section of the syllabus is markets and how they function. We have already seen that there are a limited number of resources available to satisfy the unlimited wants and needs that we have. As a result we have …
The final topic of the HL Theory of the Firm section is Price discrimination. This is where the producer charges different consumers (or different groups of consumers) different prices for the same product (but not for reasons of cost differences). There are 3 types (or degrees) of price discrimination, the imaginatively …
Game theory is an area of Economics that is increasingly used to explain many situations where strategic thinking and action is involved. …
We have already looked at demand-side policies, but governments also have the option to use supply-side policies. These are policies that are …
We have already looked at one aspect of demand-side policy, fiscal policy, and it is important that we also understand the other …
We have now looked at the 5 different macroeconomic objectives of governments (low and stable inflation, low unemployment, stable economic growth, promoting …
One of the issues that we have come across during our study of promoting equity as a macroeconomic goal is that of poverty. …
We have already looked at the macroeconomic objective of promoting equity, why we have it and how we measure it. It is also …
A further macroeconomic objective that we study is greater equity in the distribution of the income. Remember that an equitable distribution of …
One of the government macroeconomic objectives we have already mentioned is stable economic growth. We have already looked at the business cycle …