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A Nash equilibrium is a common solution concept used in game theory for non-cooperative (i.e. players cannot work together or communicate), 2+ player games where given all other players' strategy choices,...
Aggregate Demand is the total demand in an economy for goods and services and is made up of 5 main components:Consumption, Income, Government Expenditure and (Exports-Imports).
A structural budget deficit arises irrespective of the business cycle. It will exist whether the economy is in the boom or recession phase of its business cycle: in short, the government is spending beyon...
I did not do A-level Economics, as I did the IB Diploma instead. Having said that, the first few chapters are more or less the same. I also did some self-study on GCSE Economics (though I did not take the...
-definition =>complete, market not supply at all=missing markets and partial=>wrong quantity or price
-example with diagram
-explanation
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