Definitions Medium of Exchange Money serves as an intermediary instrument that facilitates the buying and selling of goods
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 Notes on Specialization and Division of Labour
Definitions Specialization Division of Labour Mark WilsonMark is an A-Level Economics tutor who has been teaching for 6
A-Level Economics Notes on Market Types: Free, Command, and Mixed
Definitions Free Market What is a Free Market?: A free market is an economic system where voluntary exchange
A-Level Economics Notes on Production Possibility Frontiers
Definitions Diagrams Figure 1: A production possibility frontier showing the trade-off between Wine and Cotton What is a
A-Level Economics Notes on Pigouvian Taxes
Pigouvian taxes are levies imposed on activities that generate negative externalities. These taxes aim to correct market inefficiencies
A-Level Economics Notes on Asymmetric Information
Types of Asymmetric Information Consequences Solutions 5. Real-World Examples Mark WilsonMark is an A-Level Economics tutor who has
A-Level Economics on Government Regulation of Monopoly
Definitions Anti-Trust Laws Anti-trust laws are legal frameworks designed to promote fair competition and prevent anti-competitive practices in
A-Level Economics Notes on Price Discrimination
Definitions Diagrams First Degree Price Discrimination First-degree price discrimination involves charging each consumer the maximum price they are
A-Level Economics Notes on Oligopoly and Game Theory
Definitions Oligopoly An oligopoly is a market structure where a small number of firms dominate the market. These
A-Level Economics Notes on Market Power and Monopoly
Definitions Diagrams The Monopoly diagram is a graphical representation used to illustrate how a monopoly operates in the