Revision Notes
Exam code: 2281161 notes across 6 sections, ordered as the specification runs.
1. The Basic Economic Problem
1.1 The Nature of the Basic Economic Problem2
1.2 Factors of Production1
1.3 Opportunity Cost2
1.4 Production Possibility Curve (PPC) Diagrams2
1.1 The Nature of the Economic Problem1
1.2 The Factors of Production2
1.4 Production Possibility Curves1
2. The Allocation of Resources
2.1 The Role of Markets in Allocating Resources1
2.4 Price Determination2
2.5 Price Changes1
2.6 Price Elasticity of Demand (PED)3
2.7 Price Elasticity of Supply (PES)1
2.8 Market Economic System1
2.9 Market Failure5
2.10 Mixed Economic System1
2.1 Microeconomics & Macroeconomics1
2.2 The Role of Markets in Allocating Resources1
2.3 Demand2
2.4 Supply2
2.5 Price Determination1
2.6 Price Changes1
2.7 Price Elasticity of Demand (PED)2
2.8 Price Elasticity of Supply (PES)1
2.9 Market Economic System1
2.10 Market Failure3
2.11 Mixed Economic System1
3. Microeconomic Decision Makers
3.1 Money & Banking4
3.2 Households2
3.3. Workers11
- Factors Affecting the Choice of Occupation
- Wage Determination
- Labour Market Diagrams
- National Minimum Wages (NMW)
- Wage Differentials
- The Mobility of Labour
- Division of Labour & Worker Specialisation
- Factors Affecting Choice of Occupation
- Wage Determination
- Wage Differentials
- Division of Labour & Specialisation