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What is an inferior good

An inferior good is a good whose demand decreases when consumer income rises. This means that if a person suddenly has more money to spend (perhaps because they got a raise), they will start to buy less of t...
DH
Answered by Daisy H. • Economics tutor
5438 Views

What are the potential disadvantages of Trades Unions?

1. Creates Unemployment If labour markets are competitive, and trade unions are successful in pushing for higher wages, it can cause disequilibrium unemployment. Union members can benefit from higher wages, ...
AP
Answered by Anish P. • Economics tutor
12495 Views

Company A has demand function q=2p+5, and supply function q=10p. What is equilibrium price and quantity

P=5/8Q=25/4
TE
Answered by Tom E. • Economics tutor
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In an economy consumption=50, investment=60, government spending=160, imports=60 and exports=40. What is the aggregate demand of the economy

250
TE
Answered by Tom E. • Economics tutor
2073 Views

What will happen to the UK economy if investment increases?

First we will define the key term, investment, as private companies purchasing capital- where capital is goods used for the production of goods in the future, as opposed to consumption today; for example, a ...
SA
Answered by Sasha A. • Economics tutor
6117 Views