Titlebook: Introductory Economics Course Companion; Barry Harrison Textbook 1993Latest edition Macmillan Publishers Limited 1993 economics.internatio

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Price Discrimination,Price discrimination involves charging different consumers different prices for the same product, or the same consumer different prices for the same product. Although there are different types of price discrimination, they all require certain conditions to be met. These are briefly summarised below

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Labour,As a factor of production, labour refers to the input of human effort. The value of this input is quite substantial, and even in a developed economy such as the UK, labour costs account for well over 50 per cent of the total value of output produced.

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National Income and its Measurement,National income statistics provide a summary of a nation’s economic activity. This information is necessary for the formulation and implementation of economic policy as well as in determining quotas, such as contributions to the EC budget, and the allocation of economic aid to less developed countries.

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The Determination of National Income,In chapter 18 the emphasis was on measuring national income. In this chapter and Chapter 20 we examine one model of income determination. The model is sometimes referred to as the . after the economist, John Maynard Keynes, who created the model.

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