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The law of demand states that as the price of a good or service rises the quantity demanded will subsequently decrease. Opposingly, lower prices cause an increase in quantity demanded. 

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Plan

Before beginning to write an essay, it is vital to write a plan. This won't have to take more than 5 minutes but helps you to write efficiently and with clarity. To ...

Intro:

Define trade deficit: A trade deficit occurs when the value of a countries imports exceeds the value of a countries exports. 

Explain the effect of a change in the ex...

Always begin answering questions by providing a definition. This is key in economics. Therefore, start by explaining that the national min. wage is the governments guarentee of a minimum wage per hour ...

Four mark questions are a great way to pick up marks. There is a simple strategy to remember when answering these. 

Firstly, always write down your definition of the key word(s). Even if ...