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Economics (9640)
18 sections available · 89 chapters available
Free Economics (9640) study notes for Oxford AQA International AS Level students. Each chapter below covers a key topic with worked examples and practice prompts you can take into the thinka app.
The operation of markets, market failure and the role of government
The economic problem and methodology
How markets work
An introduction to production, costs, revenue and profit
Competitive and concentrated markets
Market failure and government intervention in markets
The economic problem and methodology
The nature and purpose of economic activity
Economic resources
Scarcity, choice and the allocation of resources
Production possibility diagrams
Economic methodology
How markets work
The demand for goods and services
Price, income and cross elasticities of demand
The supply of goods and services
Price elasticity of supply
The determination of market prices
The interrelationship between markets
How markets and prices allocate resources
An introduction to production, costs, revenue and profit
Production and productivity
Specialisation, division of labour and exchange
Costs of production
Economies and diseconomies of scale
Average revenue, total revenue and profit
Competitive and concentrated markets
Market structures
The objectives of firms
Competitive markets
Monopoly and monopoly power
The competitive market process
Market failure and government intervention in markets
The meaning of market failure
Private goods, public goods and quasi-public goods
Positive and negative externalities in consumption and production
Merit and demerit goods
Market imperfections
An inequitable distribution of income and wealth
Government intervention in markets
Government failure
The measurement of macroeconomic performance
The objectives of government economic policy
Macroeconomic indicators
How the macroeconomy works
The circular flow of income
Aggregate demand and aggregate supply analysis
Determinants of aggregate demand
Aggregate demand and the level of economic activity
Determinants of short-run aggregate supply
Determinants of long-run aggregate supply
Economic performance
Economic growth and the economic cycle
Employment and unemployment
Inflation and deflation
The balance of payments on current account
Possible conflicts between macroeconomic policy objectives
Macroeconomic policy
Monetary policy
Fiscal policy
Supply-side policies
The objectives of individuals and firms
The individual as a rational economic decision maker
Behavioural influences on individual economic decision making
The objectives of firms
The growth of firms
Costs, revenue and profits
The law of diminishing returns and returns to scale
Short-run cost curves
Long-run cost curves
Marginal, average and total revenue curves
Profit
Technological change
Perfect competition, imperfectly competitive markets and monopoly
Market structures
Perfect competition
Monopolistic competition
Oligopoly
Monopoly and monopoly power
Price discrimination
Contestable markets
The dynamics of competition and competitive market processes
Static efficiency, dynamic efficiency and resource allocation
Consumer and producer surplus
Competition policy
Public ownership, privatisation, regulation and deregulation of markets
The labour market
The demand for labour, marginal productivity theory
The supply of labour to different labour markets
The determination of relative wage rates and levels of employment in perfectly competitive labour markets
The determination of relative wage rates and levels of employment in imperfectly competitive labour markets
Discrimination in the labour market
Minimum wage laws
Poverty and inequality
The distribution of income and wealth within an economy
Government policies to alleviate poverty and to influence the distribution of income and wealth
Globalisation and trade
Globalisation
Trade
The balance of payments, exchange rates and financial markets
The balance of payments
Exchange rates
Financial markets
Economic growth and development
Measuring economic growth, development and living standards
Factors that affect economic development
Policies to promote development
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