Study notes | Reference library | tutor2u Economics

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Most resources are finite and we cannot produce an unlimited number of different goods and services

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Finite and Renewable Resources
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When can game theory be used to good effect in A level economics essays? You would normally use game theory at A2 level when discussing the market structure of oligopoly....

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Applying Game Theory in Economics Essays
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According to Marx and Weber (2012), availability bias or the availability heuristic refers to the human tendency to judge an event by the ease with which examples of the event can...

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Availability Bias (Behavioural Economics)
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Commercial banking relates to deposit-taking and lending. They provide services to corporate and individual customers.

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Commercial Banks (Financial Economics)
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What is choice architecture? Choice architecture describes how the decisions we make are affected by the layout / sequencing / and range of choices that are available. According to Behavioural economists Richard...

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Choice Architecture (Behavioural Economics)
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The marginal cost of employing labour is the change in total labour costs from employing one extra worker.

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Average and Marginal Cost of Labour (Labour Markets)

A crucial part of AS analysis and evaluation is to consider the causes of possible conflicts between key macro objectives.

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Macro Policy Conflicts

Recent examples of horizontal integration in different markets and industries can be found here

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Recent Examples of Horizontal Integration
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This study note looks at the balance sheet of commercial banks and how they are able to create money through the process of credit creation.

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Credit: How it is Created (Financial Economics)
Study notes

Profit

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Profit measures the return to risk when committing scarce resources to a market or industry

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Profit
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Who gains and who loses out from persistent and pervasive price targeting by businesses? To what extent does price discrimination help to achieve an efficient allocation of resources? There are...

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Monopoly - Price Discrimination and Economic Welfare
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In recent times, the debate over continued UK membership of the European Union single market has become more intense and heated. Here are some of the main arguments on both...

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UK Membership of the European Union
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The Phillips Curve traces the relationship between pay growth on the one hand and the balance of labour market supply and demand, represented by unemployment, on the other. It has...

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The Changing Phillips Curve in the UK Economy
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The equilibrium price and quantity in a market will change when there are shifts in both market supply and demand.

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Changes in Market Equilibrium Price

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