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Price elasticity of demand (PED) is a measure used to show the responsiveness of the quantity demand of a good to a price change and is generally expressed in percentages. This is extremely important for ...

So economies of scale is an economic theory which explains why large firms tend to have cheaper per unit costs than smaller companies. The theory basis its ideas around a few key issues. There are many wa...

The current account deficit is the term we use to describe the difference between all of the goods and services exported from the UK, and those imported here. It is not an actual account of any person or ...