Paul Boyce

Paul is a Business Economics graduate from the UK and currently an editor at Boycewire

Cyclical Unemployment Definition

Cyclical Unemployment Definition

Cyclical unemployment is where unemployment rises and falls in a reoccurring fashion and is generally linked to economic growth. So when the economy is doing well, we see a fall in unemployment. However, when the economy is doing badly, we see cyclical unemployment.

Adverse Selection Definition (1)

Adverse Selection Definition

Adverse selection occurs when either the buyer or seller has more information about the product or service than the other. In other words, the buyer or seller knows that the products value is greater than its worth.

Subsidies Definition

Subsidies Definition

Subsidies are a way by which governments give money to private firms, usually to keep prices low, or, to protect the firm and jobs. This can come through a cash payment, or a specific tax cut.

What is Economics

What is Economics

Economics is the study of scarce resources that have alternate uses. In other words, how resources are effectively deployed. This covers the production, distribution, and consumption of goods as well as how individuals, businesses, and governments interact to allocate those resources efficiently.

Consumer Surplus Definition

Consumer Surplus Definition and Example

A consumer surplus is defined as the gap between what consumers are able and willing to pay, and the actual price paid. In other words, you may be willing to spend $5 on a Dunkin’ Donut, but you only pay $3 for it.

Picture of San Francisco Homeless

San Francisco’s Homeless Crisis

The homeless rate in San Francisco reached over 9,700 people in 2019. That is an increase of 30 percent in two years. Such a large upsurge now brings the city’s homeless to among the highest in the USA.