Cambridge international as/a level economics revision guide.

Description

Cover Book title My revision planner AS topics 1 Basic economic ideas and resource allocation Scarcity, choice and opportunity cost Positive and normative statements Factors of production Resource allocation in different economic systems and issues of transition Production possibility curves Money Classification of goods and services 2 The price system and the micro economy Demand curves Price, income and cross elasticities of demand Supply curves Price elasticity of supply Interaction of demand and supply Consumer and producer surplus 3 Government microeconomic intervention Maximum and minimum prices Taxes (direct and indirect) Subsidies Transfer payments Direct provision of goods and services Nationalisation and privatisation 4 The macro economy Aggregate demand (AD) and aggregate supply (AS) analysis Inflation The balance of payments Exchange rates The terms of trade Principles of absolute and comparative advantage Protectionism 5 Government macro intervention Types of policy Policies to correct balance of payments disequilibrium Policies to correct inflation and deflation AS questions and answers A level topics 6 Basic economic ideas and resource allocation Efficient resource allocation Externalities and market failure Social costs and benefits 7 The price system and the micro economy Law of diminishing marginal utility Indifference curves and budget lines Types of cost, revenue and profit, and short-run and long-run production Different market structures Growth and survival of firms Differing objectives of a firm 8 Government microeconomic intervention Policies to achieve efficient resource allocation and correct market failure Equity and policies towards income and wealth redistribution Labour market forces and government intervention Government failure in microeconomic intervention 9 The macro economy Economic growth, economic development and sustainability National income statistics Classification of countries Employment and unemployment The circular flow of income The theory of money supply Keynesian and monetarist schools The demand for money and interest rate determination Policies towards developing economies: trade and aid 10 Government macro intervention Government macro policy aims Inter-connectedness of problems Effectiveness of policy options to meet all macroeconomic objectives A level questions and answers Now test yourself answers Key terms