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 to answer the question of …
One area of Microeconomics that we refer to throughout the course is the concept of elasticity. It is important to understand the overall concept of elasticity being how responsive the quantity, either demanded or supplied, is to a change in something else; this can be the price of the good or one of the non-rice …
East African trade agreement Article about a move towards a common market in East Africa Deflation returns to Japan Article about a deflation returning to Japan for the first time since the 2006 Factors affecting demand for Second Life Article explaining why the demand for Second Life has fallen – good examples of non-price factors