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Economics B (9EB0)
32 sections available · 90 chapters available
Free Economics B (9EB0) study notes for Pearson Edexcel A Level students. Each chapter covers a key topic with examples and practice prompts you can continue inside the thinka app.
Scarcity, choice and potential conflicts
Stakeholders (economic agents) and their objectives
Theme 1: Scarcity, enterprise and the market
1.1.1 The economic problem
1.1.2-1.1.3 Business objectives and stakeholders
1.2.1-1.2.2 The entrepreneur: role and motives
1.2.3-1.2.4 Factors of production and specialisation
1.2.5 The wider economic environment for firms
1.3.1-1.3.2 Demand and supply
1.3.3-1.3.4 Price determination and the price mechanism
1.3.5-1.3.6 Understanding the consumer and the competition
Enterprise, business and the economy
Entrepreneurial motives
Specialisation
Theme 1: Credit, market failure, revenue and costs
1.4.1 Role of banks in the economy
1.4.2 Risk and liability
1.4.3 Types and sources of credit and finance
1.5.1 Market failure and externalities
1.5.2 Government intervention and government failure
1.6.1 Revenue and costs
1.6.2 Contribution, break-even and margin of safety
1.6.3-1.6.4 Profit, profitability and cash flow
Introducing the market
Supply
Price mechanism
The competition
The role of credit in the economy
Theme 2: Business growth, competitiveness and elasticities
2.1.1-2.1.2 Growth: objectives, problems and methods
2.1.3 Research and development (R&D) and innovation
2.1.4 How the digital economy affects markets and firms
2.1.5 How small firms compete
2.2.1 Price elasticity of demand (PED)
2.2.2 Pricing strategies and competing on price
2.2.3 Types of non-price competition
2.2.4 Income elasticity of demand (YED)
Theme 2: Productive efficiency, the global economy and macro policy
2.3.1-2.3.2 Productivity and capacity utilisation
2.3.3-2.3.4 Lean production, quality, costs and revenue
2.4.1 Globalisation and its causes
2.4.2 Developed, emerging and developing economies
2.4.3-2.4.4 International trade and exchange rates
2.5.1-2.5.2 The economic cycle and the circular flow
2.5.3-2.5.4 Inflation, employment and unemployment
2.6.1-2.6.3 Macroeconomic objectives, instruments and conflicts
Market failure and government intervention
Revenue, costs, profits and cash
Business survival and cash flow
Theme 3: Globalisation, trade and business expansion
3.1.1 Growing economies
3.1.2 Trade and growth
3.1.3 Trading blocs
3.1.4 Trade policy and trade negotiations
3.1.5 Exchange rate changes
3.2.1 Conditions that prompt trade
3.2.2 Assessing the potential of different economies
3.3.1-3.3.2 Responding to demand in global markets
Business growth and competitive advantage
Methods of growth
Theme 3: Multinationals, labour markets and inequality
3.4.1 The impact of multinational corporations (MNCs)
3.4.2-3.4.3 Ethical issues and controlling MNCs
3.5.1 Employment patterns in global labour markets
3.5.2 Wage rates
3.5.3 Minimum wage legislation
3.6.1 Poverty and inequality
3.6.3 The impact of inequality on economic agents
3.6.2, 3.6.4 Reducing poverty and re-distribution
Firms, consumers and elasticities of demand
Theme 4: Competition, market power and market failure
4.1.1-4.1.2 Spectrum of competition and barriers to entry
4.1.3 Oligopoly
4.1.4 Business objectives and pricing decisions
4.1.5 Productive and allocative efficiency
4.2.1 Market power and market failure
4.2.2-4.2.3 Business regulation and the case for and against it
4.3.1-4.3.2 Market failure in society and externalities
4.3.3 Policies to deal with market failure
Theme 4: Macroeconomic policy, risk and the financial sector
4.4.1 The AD/AS model
4.4.2 Demand-side policies
4.4.3 Supply-side policies
4.4.4 The impact of macroeconomic policies
4.5.1 Risks and uncertainty
4.5.2 The role of the financial sector
4.5.3 The role of the central bank
4.5.4 The Global Financial Crisis
Productive efficiency
Capacity utilisation
Impact on costs and sales revenue
Data response and synoptic skills
Interpreting quantitative stimulus: index numbers, real and nominal values
Calculations: elasticities, costs, revenue, profit and accounting ratios
Diagram skills: supply and demand, tariffs and quotas, AD/AS
Extended open-response: analysis, evaluation and judgement
Applying all four themes to an unseen business context
Life in a global economy
Exchange rates
The economic cycle
Circular flow of income, expenditure and output
Employment and unemployment
Introduction to macroeconomic policy
Possible macroeconomic objectives
Potential policy conflicts and trade-offs
Globalisation
Economic factors in business expansion
Impact of globalisation on global companies
Demand-side factors in global markets
Impact of globalisation on local and national economies
Controlling MNCs
Global labour markets
Inequality and re-distribution
Re-distribution of income and wealth
Competition and market power
Barriers to entry
Market power and market failure
Arguments for and against regulation
Market failure across the economy
Externalities
Macroeconomic policies and impact on firms and individuals
Risk and the financial sector
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