Economics Blog

Introduction Income and Wealth Income  is a  flow of factor incomes  such as wages and earnings from work; rent from the ownership of l...

Introduction Labour Demand – Marginal Revenue Product How many people should a business look to employ? Theories of the demand for lab...

gcse economics - the big picture: business and trade cycle   The economy tends to experience different trends. These can be categoris...

Introduction Adam Smith’s Invisible Hand Adam Smith , one of the Founding Fathers of economics described the “invisible hand of the pri...

Public Goods Author :  Geoff Riley    Last updated:  Sunday 23 September, 2012 When the market fails to provide certain goods and servi...

Introduction A failure of the free market and the price mechanism to deliver an allocatively efficient allocation of scarce resources i...