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PED stands for the Price Elasticity of Demand. This measures how responsive demand is for a product or service in relation to a change in price. The general formula for calculating the PED of a product is: P...

Investment is part of Aggregate Demand (AD). If there is an increase in investment then there will be a rise in the demand for capital goods and this means that the firms supplying the goods will have an inc...

Bounded rationality is a behavioural economics theory which suggests the cognitive, decision-making capacity of humans can't be fully rational due to a number of limits we face. This contrasts with tradition...

So, the main body of your essay should be made of: A key introduction (mentioning the points you are going to answer and your overall answer to the question), 2-4 points and a conclusion (linking back to the...

So the key points in evaluative parts of essays need to answer the "What if" question or the "This depends upon" phrase. For example if your point is "an increase in government spend...