Definitions Types of Business Costs 1. Total Costs (TC) Total costs are the sum of all the expenses
Author: Mark Wilson
Mark is an A-Level Economics tutor who has been teaching for 6 years. He holds a masters degree with distinction from the London School of Economics and an undergraduate degree from the University of Edinburgh.
A-Level Economics Notes on Business Revenue
Definitions Average Revenue (AR) Marginal Revenue (MR) Factors Influencing Average and Marginal Revenue Analyzing Average and Marginal Revenue
A-Level Economics Notes on Types of Business Growth
Definitions Business Growth: An increase in the size and value of a business, typically measured by various metrics
A-Level Economics Notes on Trade Policies: Tariffs and Quotas
Definitions Trade Policy: A government’s policy governing international trade. Trade policies determine the tariffs and quotas that the
A-Level Economics Notes on Balance of Payments
Definitions Balance of Payments: Simplified Explanation The Balance of Payments is like a record book that keeps track
A-Level Economics Notes on Monetary Policy and Interest Rates
Definitions Introduction to Monetary Policy Definition: Monetary policy involves the control of the money supply and interest rates
A-Level Economics Notes on The Phillips Curve
Definitions Introduction to the Phillips Curve The Original Phillips Curve The Adaptation to Price Inflation The Short-Run Phillips
A-Level Economics Notes on The Multiplier
Definitions The Multiplier Effect Definition The multiplier effect refers to the process by which an initial increase in
A-Level Economics Notes on the Circular Flow of Income
Definitions Diagrams Components of the Circular Flow Assumptions of the Model The Two-Sector Model The Three-Sector Model (Inclusion
A-Level Economics Notes on the AD/AS Curve
Definitions Diagrams Figure 1: AS/AD Curve AS Curve AS (Aggregate Supply): The AS curve shows the total quantity