Definitions

News


House price latest

House prices up by 6.9%.

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Model agencies collude to fix rates

Regulators find leading model agencies guilty of price fixing.

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Profit maximisation

Profit maximisation is assumed to be the dominant goal of a typical firm. This means selling a quantity of a good or service, or fixing a price, where TR is the greatest above TC.

This is consistent with producing up to the point where the marginal revenue (MR) from selling one extra unit exactly equals the marginal cost (MC) of producing that unit. It can be seen in the following graph. Profit is maximised at Q, with the area of super-normal profits being PABC.

Profit maximisation

More on profits.


Alternative finance

Report on the growth of alternative finance.

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GDP latest

UK grows by 0.3% in 1st quarter of 2017.

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Customs unions

Costs and benefits of customs unions.

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New materials

Multiple choice papers for Paper Three.

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Brexit update

Article 50

What trading options are available to the UK?

Savings ratio

Savings ratio falls to lowest level on record.

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Tax avoidance

Double Irish - and a Dutch Sandwich more..

The OECD presents its final package for reform of international tax rules..more

OECD - reducing income inequality will boost growth..more