Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Equilibrium is a state of balance in an economy, and can be applied in a number of contexts. In elementary micro-economics, market equilibrium price is the price that equates demand and supply in a particular market. In this situation the market 'clears' at the equilibrium price - everything that is taken to market by producers is taken out of the market by consumers. This situation is commonly referred to as 'partial' equilibrium.

In introductory macro-economics, national income is in equilibrium when aggregate demand (AD) equals aggregate supply (AS). 

Disequilibrium occurs when a variable changes to create an excess of demand or supply, causing a 'movement' to a new equilibrium position. A sudden change is called an economic shock.

General equilibrium theory attempts to show how all markets move towards a co-ordinated equilibrum - this situation was first described by French 19th century economist Leon Walras.

Micro-economic equilibrium


Macro-economic equilibrium

national income equilibrium

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GDP latest

UK grows by 0.2% in 4th quarter of 2018.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Tax avoidance

Double Irish - and a Dutch Sandwich more..

The OECD presents its final package for reform of international tax rules..more

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