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CCambridge EPearson Edexcel AQAAQA OCROCR

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CCambridge EPearson Edexcel AQAAQA OCROCR

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Economics · 9708

A Level Multiple Choice

01The Price System and the Microeconomy

Utility and Consumer Choice4

Total and Marginal Utility Diminishing Marginal Utility The Equi-Marginal Principle Utility and Individual Demand

Indifference Curves and Budget Lines4

Indifference Curves and Choice Budget-Line Changes Income and Substitution Effects Limits of Indifference Analysis

Efficiency and Market Failure3

Productive and Allocative Efficiency Pareto and Dynamic Efficiency Causes of Market Failure

Externalities and Information4

Private, External and Social Values Externalities and Welfare Loss Asymmetric Information and Moral Hazard Social Cost–Benefit Analysis

Production, Costs and Revenue6

Short-Run Production and Returns Short-Run Costs Long-Run Costs and MES Sources of Scale Economies Total, Average and Marginal Revenue Normal and Abnormal Profit

Market Structures and Firm Decisions5

Five Market Structures and Entry Firm Output and Shutdown Monopoly and Competition Outcomes Oligopoly and Game Theory Concentration and Contestability

Firm Growth and Survival3

Firm Size and Organic Growth Integration and Mergers Cartels and Principal–Agent Problems

Firm Objectives and Pricing4

Firm Objectives Three Degrees of Price Discrimination Limit, Predatory and Leadership Pricing PED and Firm Revenue

02Government Microeconomic Intervention

Policies for Market Failure4

Taxes and Subsidies for Market Failure Price Controls, Quotas and Rules Permits, Rights, Provision and Information Government Failure and Policy Choice

Equity, Poverty and Redistribution3

Equity, Equality and Efficiency Poverty and the Poverty Trap Redistribution Benefit Designs

Labour Markets and Wages5

Derived Labour Demand and MRP Labour Supply and Competitive Wages Trade Unions and Minimum Wages Monopsony and Wage Floors Wage Differentials and Economic Rent

03The Macroeconomy

Income and the Multiplier4

Average and Marginal Propensities The Open-Economy Multiplier AD Components and the Accelerator Equilibrium Income and Expenditure Gaps

Growth and Sustainability4

Actual, Potential Growth and Output Gaps Business Cycles and Automatic Stabilisers Policies for Economic Growth Inclusive and Sustainable Growth

Employment and Unemployment4

Full Employment and Unemployment Types Natural Rate, Hysteresis and Mobility Employment Patterns and Measurement Policies to Reduce Unemployment

Money, Banking and Inflation5

Money Supply and Quantity Theory Bank Balance Sheets and Credit Creation Central Banks, QE and External Money Flows Liquidity Preference and Interest Rates Anti-Inflation Policy Effectiveness

04Government Macroeconomic Intervention

Macroeconomic Objectives and Their Links5

Seven Macroeconomic Objectives Prioritising Macroeconomic Objectives Internal and External Money Value Growth, Inflation and BOP Links Traditional and Expectations Phillips Curves

Macroeconomic Policy Effectiveness4

Fiscal Policy and the Laffer Curve Monetary and Supply-Side Effectiveness Exchange-Rate and Trade Policy Macroeconomic Policy Conflicts and Failure

05International Economic Issues

External Balance and Exchange Rates5

Balance of Payments Accounts Policies for External Balance Nominal, Real and Trade-Weighted Exchange Rates Fixed, Managed and Floating Rates Marshall–Lerner and the J-Curve

Measuring Development and Economic Structure4

Development and Income Classification Development Indicators and Comparisons Demography and Urbanisation Lorenz, Gini and Economic Structure

Development, Globalisation and Integration6

Aid and Trade for Development MNCs and Foreign Direct Investment External Debt, IMF and World Bank Globalisation: Causes and Consequences Forms of Economic Integration Trade Creation and Diversion

Revision Notes Practice Questions Topical Questions Past Papers

Resources

Revision Notes Practice Questions Topical Questions Past Papers

A Level Multiple Choice/Government Microeconomic Intervention

Government Failure and Policy Choice

Practise Government Microeconomic Intervention

Contents

Economics · 9708

A Level Multiple Choice

01The Price System and the Microeconomy

Utility and Consumer Choice4

Total and Marginal Utility Diminishing Marginal Utility The Equi-Marginal Principle Utility and Individual Demand

Indifference Curves and Budget Lines4

Indifference Curves and Choice Budget-Line Changes Income and Substitution Effects Limits of Indifference Analysis

Efficiency and Market Failure3

Productive and Allocative Efficiency Pareto and Dynamic Efficiency Causes of Market Failure

Externalities and Information4

Private, External and Social Values Externalities and Welfare Loss Asymmetric Information and Moral Hazard Social Cost–Benefit Analysis

Production, Costs and Revenue6

Short-Run Production and Returns Short-Run Costs Long-Run Costs and MES Sources of Scale Economies Total, Average and Marginal Revenue Normal and Abnormal Profit

Market Structures and Firm Decisions5

Five Market Structures and Entry Firm Output and Shutdown Monopoly and Competition Outcomes Oligopoly and Game Theory Concentration and Contestability

Firm Growth and Survival3

Firm Size and Organic Growth Integration and Mergers Cartels and Principal–Agent Problems

Firm Objectives and Pricing4

Firm Objectives Three Degrees of Price Discrimination Limit, Predatory and Leadership Pricing PED and Firm Revenue

02Government Microeconomic Intervention

Policies for Market Failure4

Taxes and Subsidies for Market Failure Price Controls, Quotas and Rules Permits, Rights, Provision and Information Government Failure and Policy Choice

Equity, Poverty and Redistribution3

Equity, Equality and Efficiency Poverty and the Poverty Trap Redistribution Benefit Designs

Labour Markets and Wages5

Derived Labour Demand and MRP Labour Supply and Competitive Wages Trade Unions and Minimum Wages Monopsony and Wage Floors Wage Differentials and Economic Rent

03The Macroeconomy

Income and the Multiplier4

Average and Marginal Propensities The Open-Economy Multiplier AD Components and the Accelerator Equilibrium Income and Expenditure Gaps

Growth and Sustainability4

Actual, Potential Growth and Output Gaps Business Cycles and Automatic Stabilisers Policies for Economic Growth Inclusive and Sustainable Growth

Employment and Unemployment4

Full Employment and Unemployment Types Natural Rate, Hysteresis and Mobility Employment Patterns and Measurement Policies to Reduce Unemployment

Money, Banking and Inflation5

Money Supply and Quantity Theory Bank Balance Sheets and Credit Creation Central Banks, QE and External Money Flows Liquidity Preference and Interest Rates Anti-Inflation Policy Effectiveness

04Government Macroeconomic Intervention

Macroeconomic Objectives and Their Links5

Seven Macroeconomic Objectives Prioritising Macroeconomic Objectives Internal and External Money Value Growth, Inflation and BOP Links Traditional and Expectations Phillips Curves

Macroeconomic Policy Effectiveness4

Fiscal Policy and the Laffer Curve Monetary and Supply-Side Effectiveness Exchange-Rate and Trade Policy Macroeconomic Policy Conflicts and Failure

05International Economic Issues

External Balance and Exchange Rates5

Balance of Payments Accounts Policies for External Balance Nominal, Real and Trade-Weighted Exchange Rates Fixed, Managed and Floating Rates Marshall–Lerner and the J-Curve

Measuring Development and Economic Structure4

Development and Income Classification Development Indicators and Comparisons Demography and Urbanisation Lorenz, Gini and Economic Structure

Development, Globalisation and Integration6

Aid and Trade for Development MNCs and Foreign Direct Investment External Debt, IMF and World Bank Globalisation: Causes and Consequences Forms of Economic Integration Trade Creation and Diversion

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