Economics Blog

Calculating a Firm's Costs Author :  Geoff Riley    Last updated:  Sunday 23 September, 2012 In the  short run,  because  at least ...

Production in the Short-run & Long-run Production Functions The  production function  relates the quantity of  factor inputs used by...

Measuring The Standard of Living Introduction The  standard of living  is a measure of  material welfare . The baseline measure is  ...

Globalisation - Introduction Introduction to Globalisation The  OECD  defines globalization as “The geographic dispersion of industri...

Economic Growth - Development & Labour Migration Introduction A Global War for Talent “A higher rate of global migration is desir...

Economic Development - Strategies for Sustainable Development Introduction Which strategies and policies are best for an individual c...

Consumer surplus When there is a difference between the price that you pay in the market and the value that you place on the product,...