Free Economics study notes
Step-by-step answers to common Economics questions, with worked examples, common mistakes and exam tips.
Free Economics study notes
2 notes
What is the law of supply and demand?
The law of demand says that as the price of a good rises, the quantity demanded falls. The law of supply says that as the price rises, the quantity supplied rises. The…
What is inflation and what causes it?
Inflation is a sustained rise in the general price level, which means each unit of money buys less. It is usually measured by the change in a consumer price index over a…