A-Level Year 1 & AS Economics

Contents......Page 4
An Introduction to Economics......Page 7
The Economic Problem......Page 8
The Economic Problem......Page 9
Production Possibility Frontiers......Page 10
Production Possibility Frontiers......Page 11
Markets and Economies......Page 12
Markets and Economies......Page 13
Economic Objectives and Rationality......Page 14
Economic Objectives and Rationality......Page 15
Demand......Page 16
Demand......Page 17
Price, Income and Cross Elasticities of Demand......Page 18
Price, Income and Cross Elasticities of Demand......Page 19
Uses of Elasticities of Demand......Page 20
Uses of Elasticities of Demand......Page 21
Supply......Page 22
Supply......Page 23
Price Elasticity of Supply......Page 24
Price Elasticity of Supply......Page 25
Market Equilibrium......Page 26
Market Equilibrium......Page 27
Price and the Allocation of Resources......Page 28
Consumer and Producer Surplus......Page 29
Subsidies and Indirect Taxes......Page 30
Subsidies and Indirect Taxes......Page 31
Demand and Supply — Agriculture......Page 32
Demand and Supply — Agriculture......Page 33
Demand and Supply — Oil......Page 34
Demand and Supply — Oil......Page 35
Demand and Supply — Housing......Page 36
Demand and Supply — Transport......Page 37
Production and Productivity......Page 38
Specialisation......Page 39
The Costs of a Firm......Page 40
The Costs of a Firm......Page 41
Economies and Diseconomies of Scale......Page 42
Economies and Diseconomies of Scale......Page 43
The Revenue of a Firm......Page 44
The Objectives of Firms......Page 45
Perfect Competition......Page 46
Perfect Competition......Page 47
Monopolies......Page 48
Monopolies......Page 49
Market Failure and Externalities......Page 50
Externalities — Social Cost and Benefit......Page 51
Externalities — Social Cost and Benefit......Page 52
Externalities — Social Cost and Benefit......Page 53
Externalities — Demand and Supply......Page 54
Merit and Demerit Goods......Page 55
Merit and Demerit Goods......Page 56
Public Goods......Page 57
Imperfect Information......Page 58
Inequity......Page 59
Immobile Factors of Production......Page 60
Market Failure in Monopolies......Page 61
Taxation......Page 62
Taxation......Page 63
Subsidies......Page 64
Price Controls......Page 65
Buffer Stocks......Page 66
State Provision......Page 67
Regulation......Page 68
Information Provision and Pollution Permits......Page 69
Government Failure......Page 70
Government Failure......Page 71
Examples of Government Failure......Page 72
Examples of Government Failure......Page 73
Measuring Economic Growth......Page 74
Measuring Economic Growth......Page 75
Measuring Inflation......Page 76
Measuring Inflation......Page 77
Measuring Unemployment......Page 78
Measuring the Balance of Payments......Page 79
The Circular Flow of Income......Page 80
The Circular Flow of Income......Page 81
The Components of Aggregate Demand......Page 82
The Components of Aggregate Demand......Page 83
The Components of Aggregate Demand......Page 84
The Components of Aggregate Demand......Page 85
Aggregate Demand Analysis......Page 86
Aggregate Demand Analysis......Page 87
Aggregate Demand Analysis......Page 88
Aggregate Demand Analysis......Page 89
Aggregate Supply......Page 90
Aggregate Supply......Page 91
Macroeconomic Equilibrium......Page 92
Macroeconomic Equilibrium......Page 93
Economic Growth......Page 94
Economic Growth......Page 95
Economic Growth......Page 96
Economic Growth......Page 97
Economic Growth......Page 98
Economic Stability......Page 99
Unemployment......Page 100
Unemployment......Page 101
Inflation......Page 102
Inflation......Page 103
The Balance of Payments......Page 104
The Balance of Payments......Page 105
The Balance of Payments......Page 106
The Balance of Payments......Page 107
Other Economic Policy Objectives......Page 108
Conflicts Between Economic Objectives......Page 109
Conflicts Between Economic Objectives......Page 110
Conflicts Between Economic Objectives......Page 111
Trade......Page 112
Trade......Page 113
Trade......Page 114
Exchange Rates......Page 115
Exchange Rates......Page 116
Exchange Rates......Page 117
International Competitiveness......Page 118
International Competitiveness......Page 119
Fiscal Policy......Page 120
Fiscal Policy......Page 121
Fiscal Policy......Page 122
Fiscal Policy......Page 123
Monetary Policy......Page 124
Monetary Policy......Page 125
Monetary Policy......Page 126
Supply-side Policies......Page 127
Supply-side Policies......Page 128
Supply-side Policies......Page 129
Different Approaches to Macroeconomic Policy......Page 130
Different Approaches to Macroeconomic Policy......Page 131
Get Marks in Your Exam......Page 132
Get Marks in Your Exam......Page 133
What to Expect in the Exams......Page 134
Sample Questions and Worked Answers......Page 135
Sample Questions and Worked Answers......Page 136
Sample Questions and Worked Answers......Page 137
Answres — Section Two......Page 138
Answers — Section Three......Page 140
Answers — Section Four......Page 141
Answers — Section Five......Page 142
Answers — Section Six......Page 143
Answers — Section Seven......Page 144
Answers — Section Eight......Page 145
Answers — Section Nine......Page 147
Glossary......Page 149
Glossary......Page 150
Glossary......Page 151
Glossary......Page 152
Index......Page 153
Index......Page 154