Smooth EconomicsA discussion on the introduction of market forces for allocating food to food banks. In the USA there’s an amazing organisation called Feeding America that receives donations of 50 truckloads of food, each containing 13,000kg of provisions, every day. Its job is to distribute the food to the 215 food banks who are affiliated with…
In economics, a model is a hypothesis embodied by a set of relationships between a dependent variable, the cause, (x-axis) and an independent variable, the effect, (y-axis) variables. As household income increases, household expenditure increases is a hypothesis where the direct variable, which in this case is the extra income, is causing the indirect variable,…