A small fishing harbour has open access to a bay. Each boat owner increases its catch when fish prices rise, but no firm owns the fish stock or limits the n...

Fig. 1 shows a tomato grower's supply curve. A new irrigation system reduces the grower's water costs for every crate produced. The market demand curve does ...

A central bank raises its policy interest rate after household borrowing and spending have increased quickly. A small furniture firm has a variable-rate loan...

Fig. 1 shows the market shares of firms selling ready-mixed concrete in a city. The four largest firms have been operating for more than ten years. Share (%)...

Table 1 shows annual emissions and the estimated social cost created by a cement firm. Annual cement output (tonnes) Carbon emissions (tonnes) Estimated exte...

The diagram in Fig. 1 shows how installing robots changes the supply curve for a firm producing metal lunch boxes. The robots reduce the number of workers ne...

Table 1 gives information from the coastal state of Noria. Its firms have no commercially viable oil reserves, but local consumers and transport workers use ...

Fig. 1 shows a simplified circular flow for a coastal economy in which households provide workers to firms and buy goods and services. Firms pay wages and se...

Table 1 shows monthly information for a mobile-phone repair business. It is deciding whether to keep one repair worker or employ a second worker. Number of w...