This article will go through the different types of taxes and will explain where the incidence of taxes lies. Furthermore, the article will outline how the price elasticity of demand and supply can affect the incidence of tax. Welcome to Simply Economics. This article is the thirteenth in a series to explain economics to those […]
This article will explain consumer and producer surplus are and will also discuss the impact of increases in consumer and producer surplus. Furthermore, the article will investigate how the price elasticity of demand can affect the incidence of such surpluses. Welcome to Simply Economics. This article is the twelfth in a series to explain economics
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Price determination. This article will explain what an equilibrium price is and how an equilibrium price is formed using a demand a supply curve. The article will also discuss the price mechanism and its functions. Before reading this article, it is recommended you read our articles on demand and supply. Welcome to Simply Economics. This
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Determinants of price elasticity of supply. This article will explain what determines the price elasticity of supply of a good and how time can affect the price elasticity of supply. Welcome to Simply Economics. This article is the tenth in a series to explain economics to those who want to broaden their scope of the
8.2 Determinants of Price Elasticity of Supply (PES) Read More »
Price elasticity of supply. This article will explain what price elasticity of supply is and will explain the different types of price elastic supply. Welcome to Simply Economics. This article is the ninth in a series to explain economics to those who want to broaden their scope of the subject. Click here to find out more about
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Total revenue and price elasticity of demand. This article will explain what determines the price elasticity of demand. Furthermore, the article will explain how firms should change the price of their good in order to increase total revenue. Total revenue and price elasticity of demand. Welcome to Simply Economics. This article, total revenue and price
7.2 Total Revenue and Price Elasticity of Demand. Read More »
Price elasticity of demand. This article will explain what PED is and will go through the different types of PED. Welcome to Simply Economics. This article is the seventh in a series to explain economics to those who want to broaden their scope of the subject. Click here to find out more about the series. Price elasticity
7.1 PRICE ELASTICITY OF DEMAND (PED) Read More »
Supply theory. This article will explain what the supply theory is and how the supply of a good is related to the price of the good. Furthermore, the article will explore movements along a supply curve and shifts in the supply curve. Welcome to Simply Economics. This article is the sixth in a series to
Demand theory. This article explains what the demand theory is and will go on to expound upon the demand law and how demand for a good and price of a good are inversely related. Furthermore, the article will discuss movements along and shifts in the demand curve. Welcome to Simply Economics. This article is the
Types of economies. How many different types of economies are the and how are resources allocated? This article will define what free market, mixed and command economies are and explain the advantages and disadvantages of each one. Welcome to Simply Economics. This article is the fourth in a series to explain economics to those who
4. Types of Economies Read More »