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Economics (XEC11)
7 sections available · 27 chapters available
Free Economics (XEC11) study notes for Pearson Edexcel International AS Level students. Each chapter covers a key topic with examples and practice prompts you can continue inside the thinka app.
Markets in action
Unit 1 (WEC11): Markets in action
Introductory concepts
Consumer behaviour and demand
Supply
Price determination
Market failure
Government intervention in markets
Macroeconomic performance and policy
Business behaviour
Types and sizes of businesses
Revenue, costs and profits
Market structures and contestability
Labour markets
Government intervention
Unit 2 (WEC12): Macroeconomic performance and policy
Measures of economic performance
Aggregate demand (AD)
Aggregate supply (AS)
National income
Economic growth
Macroeconomic objectives and policies
Developments in the global economy
Causes and effects of globalisation
Trade and the global economy
Balance of payments, exchange rates and international competitiveness
Poverty and inequality
The role of the state in the macroeconomy
Growth and development in developing, emerging and developed economies
Exam skills: quantitative skills and command words
Calculations: elasticity, index numbers, percentages
Diagram drawing and interpretation
Data response from the source booklet
Evaluation essays (20 marks)
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