Economics A-Level

What is the Marshall-Lerner Condition? Understand its assumptions, formula, and how it illustrates the impact of exchange rate changes. Explore its role in A-Level Economics and global trade.

What is consumer surplus in economics? Understand its definition, formula, and significance in market transactions. Explore graphs, examples, and its relation to producer surplus.

What is Income Elasticity of Demand (YED)? Understand its formula, examples, and impact on businesses and consumers. Learn how YED values influence market decisions.

Explore the concept of common markets, how they work, their benefits, and challenges. Understand the differences between common markets and customs unions with real-world examples.