Economics Revision Guide

Front Matter....Pages i-xvi
What Economics is About....Pages 1-4
Methods of Allocating Resources....Pages 5-7
How Price is Formed in the Free Market....Pages 8-13
Applications of Demand and Supply Analysis....Pages 14-15
A Further Look at Demand....Pages 16-20
How to Produce – the Theory of Production....Pages 21-26
The Organisation and Scale of Production....Pages 27-30
The Distribution of Goods to the Consumer....Pages 31-34
The Location of Production....Pages 35-36
Combining the Factors of Production....Pages 37-38
Deciding on the Most Profitable Output....Pages 39-44
The Supply Curve of the Industry Under Perfect Competition....Pages 45-47
Rewarding the Factors of Production: the Marginal Productivity Theory of Distribution....Pages 48-50
Market Failure and the Role of Government....Pages 51-53
Monopoly....Pages 54-59
Imperfect Competition: Other Forms....Pages 60-61
Externalities and Cost-benefit Analysis....Pages 62-64
The Environment: Conservation and Pollution....Pages 65-70
The Provision of Goods and Services by the Public Sector....Pages 71-75
Labour and Wages....Pages 76-82
Capital and Interest....Pages 83-84
Land and Rent....Pages 85-86
Entrepreneurship and Profit....Pages 87-88
Money and the Rate of Interest....Pages 89-94
Financial Markets....Pages 95-97
Clearing Banks....Pages 98-100
The Bank of England....Pages 101-104
Measuring the Level of Activity: National Income Calculations....Pages 105-109
Unemployment....Pages 110-111
The Level of Output and Aggregate Demand: the Keynesian Explanation....Pages 112-124
Employment and the Price Level....Pages 125-130
Inflation: Its Effects....Pages 131-133
Policies to Achieve Price Stability....Pages 134-138
Economic Growth....Pages 139-140
Balanced Regional Development....Pages 141-145
Public Finance....Pages 146-151
The Nature of International Trade....Pages 152-156
The Balance of Payments....Pages 157-158
Foreign Exchange Rates....Pages 159-160
The Correction of a Balance of Payments Disequilibrium....Pages 161-166
The European Community....Pages 167-170
The Population of the UK....Pages 171-175
Current Problems and Policies of the UK....Pages 176-180