This article identifies the main areas of public government expenditure in a country, in this case in the UK. Also, Fiscal policy and government expenditure.
Posts published in “THE ECONOMY”
This article defines investment and answers why businesses invest. It also explains Marginal Efficiency of Capital (MEC) and the determinants of planned investment.
This article defines consumption and saving as well as introduces The Average Propensity to Consume (APC) and The Marginal Propensity to Consume (MPC).
The four basic economic systems that exist in the modern economy include Centrally Planned Economy, Market Economy, Mixed Economy and Traditional Economies.
This article is about Price Elasticity of Supply (PES). Price Elasticity of Supply (PES) measures how a change in price affects quantity supplied.
This article is about Promotional Elasticity of Demand (AED). It measures how a change in amount spent on promotion affects quantity demanded.
This article is about the definition of Aggregate Supply (AS), the Aggregate Supply (AS) curve and shifts in the Aggregate Supply (AS) curve.
This article is about the definition of Aggregate Demand (AD), the Aggregate Demand (AD) curve and shifts in the Aggregate Demand (AD) curve.
This article is about Cross Elasticity of Demand (CED). It measures how a change in price of one product affects the quantity demanded for another product.
This article is about Income Elasticity of Demand (YED). Income Elasticity of Demand (YED) measures how a change in income affects quantity demanded.
This article is about Price Elasticity of Demand (PED). Price Elasticity of Demand (PED) measures how a change in price affects quantity demanded.
This article includes introduction to economic growth. It explains different ways of measuring economic growth and causes of growth.
This article is about supply. It shows The Supply Curve and helps to understand that a rise in price will lead to a rise in supply.
This article defines a market and demand. It shows The Demand Curve and explains the relationship between price and demand by showing changes in demand.
This article is the debate whether a country such as Poland, Hungary or Sweden should join the common currency or not.
Market failure is when markets fail to achieve the most efficient allocation of scarce resources to meet the market demand.