Welcome to Economics Essentials

Types of Goods

Elasticity is the measure of sensitivity/responsiveness of quantity demanded of a good/service in relation to another variable. This variable has…...

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Types of Elasticity

Elasticity is the measure of sensitivity/responsiveness of quantity demanded of a good/service in relation to another variable. This variable has...

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Price Discrimination

Price discrimination is a price strategy used by monopolists (see Market Structures) to profit maximise. There are three types of price discrimination:...

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Market Structures

Types of market structure: IMPERFECT COMPETITION – MONOPOLISTIC COMPETITION. There are two forms of imperfect competition, one of them being...

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Market Failure

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Government Failure

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Externalities

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Unemployment

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Taxation

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Monetary Policy

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Interest Rates

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Inflation

Inflation is the rate at which the general price level of goods and services is rising within an economy. Thus,...

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Fiscal Policy

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Exchange Rates

Welcome to Economics Essentials, a website with the sole intention of helping students across all academic years, from GCSE to...

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Central Banks

History of Bank of England The Bank of England was founded in 1694 and is the second oldest central bank...

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