Economics Blog

Inflation and Unemployment About This Chapter Unemployment is an unfortunate reality for many people these days, and ther...

What is demand? Demand is defined as want or willingness of consumers to buy goods and services. In economics willingness to buy goods an...

What is Supply? Supply refers to the amount of goods and services firms or producers are willing and able to sell in the market at a poss...

What is demand? Demand is defined as want or willingness of consumers to buy goods and services. In economics willingness to buy goods an...

Define price elasticity of demand and suggest why different goods have different price elasticity? [5marks]                                ...

Discuss how a government might use taxation to affect the distribution of income. [6]            Redistribution of income is a very importa...

How do some firms become large? [4] Some firms become large by various ways. One of the important methods is by merger or integration of ...