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Inflation is a sustained rise in general price levels. There are several causes for prices to rise. When production costs, such as wages and raw material prices increase- cost-push inflation occurs. Infla...

The main policies governments can employ to achieve economic growth are demand and supply side policies. Demand side policies can increase aggregate demand in an economy during a period of recession. If t...

Price discrimination is the sale of identical goods or services transacted at different prices from the same provider. It can only be a feature of a monopolistic market in which market power can be exerci...

In Macroeconomics, a balance of payments or balance of trade deficit is where the total imports (M) received by an economy exceed that of exports (X). The balance of payments is a component of aggregate d...

Philips Curve shows the inverse relationship between inflation and unemployment. So as unemployment decreases inflation rises.

This is because when unemployment is low, firms have to increase wage...