Search our library of Economics questions

Top answers

Economics

All levels

What is the PPF curve and what would cause it to shift?

The PPF (Production Possibility Frontier) curve demonstrates the maximum combination of two goods that an economy can produce simultaneously, given that all resources are used fully and efficiently.

Answered by Aindrila D. • Economics tutor

5708 Views

What is demand and supply in Economics?

Demand and supply is a model used in economics to determine the equilibrium price and quantity in specific market.The equilibrium price and quantity is given by the intersection between the demand curve a...

Answered by Thevinth S. • Economics tutor

2288 Views

Given the following supply and demand functions find the Market Equilibrium point: Qs = 10 +15P Qd = 150 -5P. Now assume there is a positive shock in demand: Qd2 = 200 - 5P find the new Equilibrium Price and Quantity.

Market Equilibrium is one of the fundamental concepts in Economics. Graphically our equilibrium will be the point of intersection between Demand and Supply function. On the order hand, In order to solve i...

Answered by Alessandro S. • Economics tutor

5373 Views

Explain the Macro-economic benefits of globalisation.

Globalisation is the increase in connectivity of the world through the trade of goods and services. The effects of globalisation can benefit two different parties: one being producers; the other being con...

Answered by Harry G. • Economics tutor

2213 Views

What is demand pull inflation?

Inflation is a sustained increase in the average price level in a given time period.
Demand pull inflation refers to the economic scenario in which there is an increase in aggregate demand. This inc...

Answered by Demi R. • Economics tutor

3629 Views