An economic agent is a representation of people or entities in an economic model. They can […]
Economic goods Economic goods are those that use resources and therefore have a non-zero opportunity cost. […]
A production possibility frontier (PPF) shows all of the maximum combinations of output of two goods […]
In economics, the opportunity cost of a particular choice is the value of the next best […]
The factors of production is an economic term which describes all inputs used to produce goods […]
Recent Posts
How the Fed Sets Interest Rates Post-CrisisThe Federal Reserve (the Fed) has been mandated to promote maximum employment and price stability ...- How to Calculate the Gini Coefficient Using the Lorenz CurveThe Gini coefficient is a measure of income inequality, used to quantify the degree of inequality ...
- How to Score Full Marks on the Economics IAFeeling nervous about writing your Economics IA is a common experience for many students. You might ...
- How to Effectively Structure Your Economics IATo achieve a high score on your Economics IA, it is important to not only have strong content but ...
- How to Choose an Effective Topic for Your Economics IASelecting a suitable topic and research question for the IB Economics Internal Assessment (IA) can ...
