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Edexcel Economics Revision

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Alternative views of consumer behaviour
Consumer and producer surplus
Demand
Economics as a social science
Elasticity of supply
Externalities
Free market economies, mixed economy and command economy
Government failure
Government intervention in markets
Indirect taxes and subsidies
Information gaps
Positive and normative economic statements
Price determination
Price mechanism
Price, income and cross elasticities of demand
Production possibility frontiers
Public goods
Rational decision making
Specialisation and the division of labour
Supply
The economic problem
Types of market failure
Balance of payments
Causes of growth
Conflicts and trade-offs between objectives and policies
Consumption
Demand-side policies
Economic cycle
Economic growth
Employment and unemployment
Equilibrium levels of real national output
Government expenditure
Inflation
Injections and withdrawals
Investment
Long-run AS
National income
Net trade
Output gaps
Possible macroeconomic objectives
Short-run AS
Supply-side policies
The characteristics of AD
The characteristics of AS
The impact of economic growth
The multiplier
Business growth
Business objectives
Contestability
Costs
Demand for labour
Demergers
Economies and diseconomies of scale
Efficiency
Government intervention
Monopolistic competition
Monopoly
Monopsony
Normal profits, supernormal profits and losses
Oligopoly
Perfect competition
Revenue
Sizes and types of firms
Supply of labour
The impact of government intervention
Wage determination in competitive and non-competitive markets
Globalisation
Specialisation and trade
Theme 1: Introduction to markets and market faliure
Theme 2: The UK economy – performance and policies
Theme 3: Business behaviour and the labour market
Theme 4: A global perspective

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Edexcel Economics Revision

Home
About
Economics
Business
Revision Guides
Contact