Relevant Exam Boards: A-Level (Edexcel, OCR, AQA, Eduqas, WJEC), IB, IAL, CIE Edexcel Economics Notes Directory | AQA Economics Notes Directory | IB Economics Notes Directory Phillips Curve Definition: The Short-Run Phillips Curve (SRPC) shows the trade-off relationship between inflation and unemployment. The long-run Phillips Curve represents the natural rate […]
Daily Archives: April 17, 2020
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Relevant Exam Boards: A-Level (Edexcel, OCR, AQA, Eduqas, WJEC), IB, IAL, CIE Edexcel Economics Notes Directory | AQA Economics Notes Directory | IB Economics Notes Directory Profit Maximization Definition: Profit Maximization is defined as producing at the quantity where a firm’s marginal cost equals marginal revenues i.e. MC = MR. […]
Relevant Exam Boards: A-Level (Edexcel, OCR, AQA, Eduqas, WJEC), IB, IAL, CIE Edexcel Economics Notes Directory | AQA Economics Notes Directory | IB Economics Notes Directory Revenues Formulas & Definitions: Total Revenue (TR) is the total value of sales earnings a firm receives in a given time period. Total Revenue […]