Latest


Business Economics


Labour Markets

Labour markets The demand for labour - marginal productivity theory The demand for factors of production is derived from the demand for ...

Monopsony

Monopsony The special case of the monopsonist is an important one.  A monopsonist is a single buyer of labour, such ...

What is Enterprise?

Enterprise The origins of enterprise Firms start when entrepreneurs organise resources and take risks in the expectation of earning a profit. More ...

Competitive Labour Markets

Competitive labour markets The demand for labour - marginal productivity The demand for factors of production is derived from the demand for ...

Survival of Small Firms

Survival of small firms Despite the benefits of operating on a large scale, independent and non-subsidiary small and medium sized ...

Market Failures


Minimum Wage

The minimum wage A national minimum wage sets the minimum hourly wage rate that is acceptable in law. A national minimum ...

Cost Benefit Analysis

Cost-benefit analysis Cost Benefit Analysis (CBA) is a method of appraising large scale investment projects, often involving public spending, such as ...

Incomplete Markets

Incomplete markets An incomplete market is one where some of the necessary conditions for market formation exist, but not all ...

Labour Market Failures

Labour market failures Like product markets, labour markets can also fail. The main types of labour market failure are the ...

Price Stabilisation

Price stabilisation Many primary markets are subject to extreme fluctuations in price.  There are several methods of intervention available to ...

Paris Summit COP21

COP21 The Paris Summit The United Nations Framework Convention on Climate Change (UNFCCC), which was held back in 1992, represented the first ...

Macro Economics


Policy Conflicts

Policy conflicts Conflicts of policy objectives occur when, in attempting to achieve one objective, another objective is sacrificed. There are ...

Supply Side Shocks

Supply-side shocks The level of national income can change in the short term if there is a supply-side shock. Many factors can ...

What is Macro-Economics

Macro-economics The national economy  pages introduce macro-economic concepts, models, and theories, and explains how macro-economic problems are analysed, and policies evaluated. ...

Apple-Saving

Savings Households dispose of their post-tax income by spending or saving. Saving is a withdrawal from the circular flow of income and ...

EU Monetary Policy

European monetary policy The European Central Bank (ECB) was formed in 1998 and works with EU member’s national central banks ...