The decline of Yellow Pages

For those born in the digital age, a paper copy of business listings may seem something of an anachronism. Why leaf through a telephone directory, when you can search online and...
What is Voluntary unemployment

What is Voluntary unemployment Explain

What is Voluntary unemployment Voluntary unemployment is defined as a situation where the unemployed choose not to accept a job at the going wage rate. Reasons for voluntary unemploymentGenerous unemployment benefits, which...

Impact of Immigration on UK Economy

In the past two decades, the UK has experienced a steady flow of net migrants into the economy. This net migration has had a wide-ranging impact on UK population, wages, productivity,...
Demand-pull inflation

Demand-pull inflation

Demand-pull inflation Demand-pull inflation is a period of inflation which arises from rapid growth in aggregate demand.If aggregate demand (AD) rises faster than productive capacity (LRAS), then firms will respond by putting...
Price controls – advantages and disadvantages

Price controls – advantages and disadvantages

Price controls – advantages and disadvantages SummaryPrice controls can take the form of maximum and minimum prices. They are a way to regulate prices and set either above or below the market...

Difference between Gross and Net Amount

Difference between Gross and Net Amount It is very common to hear about the terms gross and net, both when we talk about wages, when we analyze a company's bottom line or when they tell us a macroeconomic...

Opportunity Costs – Definition | Types | Formula | Fields of Application

Opportunity Costs Opportunity Costs know two different types and different fields of application. In order to understand what opportunity costs are at all, it is first necessary to define the term a little...