This book is intended as both a revision guide and student notes for Edexcel Economics A Theme 1: Introduction to markets and market failure.

Topics covered include:

• Basic economic problem
• Opportunity cost
• Specialisation and the division of labour
• Behavioural economics
• Economic systems
• Demand/supply
• Market clearing
• Elasticities - PED, PES, YED, XED
• Incidence of taxation
• The housing market
• Market failure
• Public goods & private goods

Description

This book is intended as both a revision guide and student notes for Edexcel Economics A Theme 2: The UK Economy - Performance and Policies. It also contains examples of how to write answers for short answer questions, and long answer questions when doing AD/AS analysis, including evaluation.

Topics covered include:

• Inflation
• Unemployment
• Balance of payments
• GDP
• Economic growth,
• Circular flow of income and the multiplier
• AD/AS analysis
...