The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

Any straight line graph has a constant gradient, which is calculated by the change in 𝑦 divided by the change in 𝑥, along any section of the graph. The gradient is measuring the steepness of the ...

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Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...