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Automatic stabilizers are a form of autonomous adjustment that the economy does in booms and recessions. To understand automatic stabilizers we need to first know how fiscal policy works and know what a b...

Simple harmonic motion is defined as a motion where the acceleration of the particle is proportional to but in the opposite direction to the displacement...

The short-run is defined as the period during which one cannot vary at least one of the factors of production, i.e. at least one factor of production is fixed. The long-run is defined as the period during...

Price elasticity of demand (PED) is a measure of the responsiveness of demand for a product after a change in that product’s price. It is calculated with the following formula: PED = %change in quantity d...

Civil society refers to organisations that occupy the space between the government and the people, the term covers, but is not limited to, non-governmental organisations, trade unions, religious groups an...