Economics AS: every topic explained
29 short explanations for Economics AS, one per syllabus topic: the idea, the rules, the common mistake and a worked example. Each one links to our notes and a free test on that topic.
Basic economic ideas and resource allocation
- Scarcity, choice and opportunity cost
- Economic methodology
- Factors of production
- Resource allocation in different economic systems
- Production possibility curves
- Classification of goods and services
The price system and the microeconomy
- Demand and supply curves
- Price elasticity, income elasticity and cross elasticity of demand
- Price elasticity of supply
- The interaction of demand and supply
- Consumer and producer surplus
Government microeconomy intervention
- Reasons for government intervention in markets
- Methods and effects of government intervention in markets
- Addressing income and wealth inequality
The Macroeconomy
- National income statistics
- Introduction to the circular flow of income
- Aggregate Demand and Aggregate Supply analysis
- Economic growth
- Unemployment
- Price stability
Government macroeconomic intervention
International economic issues
- The reasons for international trade
- Protectionism
- Current account of the balance of payments
- Exchange rates
- Policies to correct imbalances in the current account of the balance of payments
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