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Cambridge
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Pearson Edexcel
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Competitive
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Economics
Revision Notes
AS Level Data Response and Essays
Economics · Cambridge 9708
AS Level Data Response and Essays
6 chapters · 118 lessons
Collection
AS Level Multiple Choice
AS Level Data Response and Essays
A Level Multiple Choice
A Level Data Response and Essays
Expand all
01
Basic Economic Ideas and Resource Allocation
15 lessons · 6 topic areas
01
Scarcity and Resource Allocation
2 lessons
Scarcity, Choice and Opportunity Cost
What, How and For Whom to Produce
02
Economic Models and Time Horizons
2 lessons
Economic Claims and Assumptions
Short Run, Long Run and Very Long Run
03
Production Resources and Specialisation
3 lessons
Four Factors of Production and Their Rewards
Human Capital and Physical Capital
Division of Labour, Specialisation and Enterprise
04
Allocation Systems
2 lessons
Market and Planned Resource Allocation
Mixed Economies and Allocation Choices
05
Production Possibility Curves
3 lessons
Production Possibility Curves: Meaning and Positions
Production Possibility Curves: Opportunity Cost
Production Possibility Curves: Shifts and Capacity
06
Types of Goods
3 lessons
Free, Economic and Private Goods
Pure Public Goods
Merit and Demerit Goods
Practise this chapter
02
The Price System and the Microeconomy
17 lessons · 5 topic areas
01
Demand and Supply
4 lessons
Effective Demand and Market Schedules
Demand and Supply Curves at Different Prices
Demand Determinants and Curve Shifts
Supply Determinants and Curve Shifts
02
Demand Elasticities
4 lessons
Price Elasticity of Demand: Sign and Size
Income and Cross Elasticity of Demand
PED Along a Straight Line and Total Expenditure
Using Demand Elasticities in Decisions
03
Price Elasticity of Supply
2 lessons
Price Elasticity of Supply: Meaning and Calculation
Supply Response Time and Firm Decisions
04
Market Equilibrium and Price Signals
4 lessons
Market Equilibrium, Shortages and Surpluses
Demand and Supply Shifts: New Equilibria
How Different Markets Are Linked
What Prices Do in a Market
05
Consumer and Producer Surplus
3 lessons
Consumer and Producer Surplus: Meaning and Areas
How Market Changes Affect Surplus
Elasticity and the Size of Surplus Changes
Practise this chapter
03
Government Microeconomic Intervention
12 lessons · 3 topic areas
01
Reasons for Government Intervention
1 lesson
Why Governments Intervene in Markets
02
Government Intervention Methods
6 lessons
Specific Indirect Taxes
Producer Subsidies
Direct Provision
Maximum and Minimum Prices
Buffer Stock Schemes
Provision of Information
03
Income, Wealth and Inequality
5 lessons
Income and Wealth
Reading the Gini Coefficient
Economic Causes of Inequality
Minimum Wages and Transfers
Taxes and Public Services
Practise this chapter
04
The Macroeconomy
29 lessons · 6 topic areas
01
National Income Statistics
5 lessons
What National Income Statistics Measure
GDP and GNI
Basic and Market Prices
Gross and Net National Income
National Income Account Bridges
02
The Circular Flow of Income
4 lessons
The Two Circular-Flow Money Arrows
Open-Economy Injections and Leakages
Circular-Flow Equilibrium and Change
Circular Flow in a Paper 2 Explanation
03
Aggregate Demand and Aggregate Supply
6 lessons
Aggregate Demand: Meaning and Components
The AD Curve: Movement and Shifts
Short-Run Aggregate Supply
Vertical and Three-Section LRAS
AD/AS Equilibrium and Movement
AD/AS Shocks and Exam Use
04
Economic Growth
4 lessons
Economic Growth: Meaning and Measurement
Nominal versus Real GDP Growth
Causes of Economic Growth
Consequences of Economic Growth
05
Unemployment
5 lessons
What Unemployment Means
Unemployment Rate and Measurement Limits
Cyclical, Frictional and Seasonal Unemployment
Structural and Technological Unemployment
Consequences of Unemployment
06
Price Stability
5 lessons
Inflation, Deflation and Disinflation
Consumer Price Index and Measurement
Nominal and Real Values
Demand-Pull and Cost-Push Inflation
Consequences of Inflation
Practise this chapter
05
Government Macroeconomic Intervention
15 lessons · 4 topic areas
01
Macroeconomic Policy Objectives
2 lessons
Three Macroeconomic Policy Objectives
Matching Macro Problems to Policy
02
Fiscal Policy
6 lessons
Government Budget, Deficit and Surplus
National Debt: Stock and Significance
Direct, Indirect and Tax Rate Patterns
Marginal and Average Tax Rates
Capital and Current Government Spending
Expansionary and Contractionary Fiscal Policy
03
Monetary Policy
4 lessons
Monetary Policy and Interest Rates
Money Supply and Credit Regulations
Expansionary and Contractionary Monetary Policy
Monetary Policy in the AD/AS Model
04
Supply-Side Policy
3 lessons
Supply-Side Policy: Meaning and Goals
Supply-Side Policy Tools
Supply-Side Policy in AD/AS
Practise this chapter
06
International Economic Issues
24 lessons · 5 topic areas
01
International Trade
5 lessons
Absolute and Comparative Advantage
Specialisation, Free Trade and Trading Possibilities
Exports, Imports and Terms of Trade
Terms of Trade: Causes and Effects
Trade Theory: Limits and Judgement
02
Protectionism
5 lessons
Protectionism: Meaning and Tools
Tariffs and Their Effects
Import Quotas and Licence Rent
Export Subsidies, Embargoes and Administrative Burdens
Arguments For and Against Protectionism
03
The Current Account
5 lessons
Four Parts of the Current Account
Calculating Current-Account Balances
Causes of Current-Account Imbalances
Effects of Current-Account Deficits
Effects of Current-Account Surpluses
04
Exchange Rates
4 lessons
Exchange-Rate Quotes and Conversion
The Floating Exchange-Rate Market
Causes of Appreciation and Depreciation
Exchange Rates in AD/AS
05
Current-Account Policies
5 lessons
Current-Account Stability and Diagnosis
Fiscal Policy and the Current Account
Monetary Policy and the Current Account
Supply-Side Policy, Protection and the Current Account
Choosing Current-Account Policies
Practise this chapter
R
Essay and Data Response Skills
6 lessons · 1 topic areas
01
Written Answer Methods
6 lessons
Read and Plan Written Answers
Develop Economic Analysis
Use Extract Evidence
Evaluate and Reach a Judgement
Write an Economics Essay
Write a Data Response
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