Economics (9708) | AS LEVEL | Full Scale Course
This Full-Scale course / Complete Course offers a complete online coverage for both the syllabus and the preparation for the examination. The AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course …
Overview
This Full-Scale course / Complete Course offers a complete online coverage for both the syllabus and the preparation for the examination. The AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) is the complete course, where the prime goal is to train a student from scratch to learn everything that they need to know for the examination, as well as in-depth understanding of the syllabus material. We incorporate a sophisticated strategy to target all the subject areas that are required to get the best grade possible. The AS Level Economics 9708 Course covers the complete syllabus of Economics (9708) – AS Level. The AS Level Course has been designed to help any student, no matter how much they have prepared for the subject. Students at all levels can benefit from the AS Level Economics 9708. You are not required to buy any book to complement the AS Level Economics 9708 as it covers all that is required for a successful attempt at the subject. Also, being a Full-Scale Course, the curriculum follows periodic content availability, just like a real classroom.
However, the timing of the class does not matter: each student can cover the material as per their own feasibility. Whenever new content is uploaded or is available, an announcement is made both on the AS Level Economics 9708 page and communicated via e-mail to the students so that they may stay informed. Also, you may join later as the AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) allows for backward compatibility. Thus, a student joining in week 3 has access to the materials of week 1 and week 2, as well as limited ability to submit the assignments of these weeks. The curriculum shall be updated as the AS Level Economics 9708 progresses.
Ideally, the course contains:
- Complete lectures of Each Topic in A Unique Way
- Notes and Videos
- Periodic Assignments with Proper Grading and Feedback
- Past Paper Based Quizzes
- Forum Access To Ask Any Question
- Complete availability of the Teacher.
- Best Resources and Guidelines
- Tip and Tricks for Paper Solution
- Paper Attempting Methodology for Best Grades
Join the AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) now and get the best grades in upcoming examination.
What Educate A Change Expects From The Student For This Course?
Full Scale Courses on Educate A Change are designed specifically to study the syllabus in-depth and solve as many past papers as possible. Our expectation with such AS Level Economics 9708 are as follows:
- The student may or may not be aware of the basic contents of the syllabus. Thus, these courses suit the students who are studying a syllabus for the first time.
- The student may or may not understand the basic paper solution pattern.
- The student’s expectation regarding AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) is to learn the complete syllabus, learn paper solving techniques and practice as many past papers as possible for the upcoming examination.
- The student needs a complete and in-depth understanding of the entire syllabus content.
- AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) is the student’s preferred method to get the best grade in their exams.
How Will The Course Progress?
The AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) has been designed to provide maximum flexibility to our students. Here is a breakup of how the AS Level Economics 9708 will progress in general. This division is subject to change based on the progression of the AS Level Economics 9708:
- Once your AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) has been activated, a timer starts to run on each of the content areas reflected in the curriculum section.
- The timer remains unique to each student. It defines the exact time when you will receive a new content.
- Generally, the Full Scale Courses have a weekly progression. This aspect means you will get new contents at different times during the week. Again, the timer shows you the exact time for the content to arrive in your portal.
- If there are any significant changes, you will be informed in the announcements section. Additionally, you may locate the announcements in your e-mail as well. Do not forget to check the junk/ spam folder regularly.
- The timings for live classes, if any, are also coordinated using the announcements section and emails.
- There are specific classes in the AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) called quizzes. These quizzes can be attempted at any point as you wish. There is no restriction as to when you have to attempt them. However, there is a restriction on the number of times you can access any quiz. Make sure you remain aware of those restrictions. They are mentioned at the start of the quiz.
- Additionally, there are assignments in the AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online)as well. These assignments are designed using the past paper contents, mostly. In some assignments, you have more than 1 submission as well. In such cases, you have to make sure that we receive your second submission before marking date passes since your first submission. Also, only one submission is marked by the instructor.
- You may attempt the assignment directly on the portal or you may attempt it on a piece of paper and attach pictures or PDF here on the portal. Both ways are completely acceptable. Emailing the assignment is not allowed. Similarly, you may not use social media to submit an assignment.
- The past paper discussion classes of AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) will focus on providing the detailed solution methods of past papers. Additionally, video discussion using recorded videos will be provided for the most important questions. Detailed points, techniques and information for each question are also included.
- The official AS Level Economics 9708 discussion board or FORUM is accessible to all the enrolled students. You may ask any question related to any class, quiz, past paper discussion or assignment etc. both in public and private on this forum. This forum is the official method to ask questions and get answers by your instructor. You can ask using written, audio, video or image questions. Additionally, you can quote different answers on the forum for further clarification as well.
What may NOT be expected from the course?
AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online) is a formal course, which makes it impossible for Educate A Change to make any adjustments for any specific students. Students must not expect the AS Level Economics 9708 to:
- Give the material before the time on your timer.
- Give all the material at once.
- Give more time for the material to be accessed than the course’s time.
- Give the material in any other form than mentioned in the course
- The AS Level Economics 9708 does NOT register or pay your fee for the official Cambridge examination
Additionally, you may NOT except the instructor
- To give you any personal mentoring outside the course in the same price.
- Answer questions and other issues you may have regarding the course on personal social media.
- Collaborate with you in any shape or form outside the mentioned methods of the AS Level Economics 9708 Complete Course online / Full-Scale Course Online (AS Level Economics 9708 Full Scale Course online / Complete Course online)
A reply or support in any of the above-mentioned issues may NOT be expected.
Curriculum
- 22 Sections
- 910 Lessons
- 32 Weeks
- Sample Content20
- 1.1Sample Notes + Written Material For Contents of The Syllabus: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 1.2Sample Notes + Written Material For Contents of The Syllabus: The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 1.3Sample Video Lectures For The Content: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 1.4Sample Video Lectures For The Content: The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 1.5Sample Quizzes For Preparation: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 1.6Sample Quizzes For Preparation: The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 1.7Sample Cheat Sheets: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 1.8Sample Cheat Sheets: The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 1.9Sample Practice Questions/ Practice Exams: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 1.10Sample Practice Questions/ Practice Exams: The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 1.11Sample Extra Section Graph Guide: Basic Economic Diagrams (Foundations): Production Possibility Curve (PPC): Scarcity, Choice and Opportunity Cost
- 1.12Sample Extra Section Graph Guide: Market Failure and Government Intervention: Social Cost, Private Cost and Social Benefit Diagram
- 1.13Sample Paper Pattern/ Paper Preparation/ Techniques To Attempt The Paper/ Common Mistakes To Avoid: Understanding the Paper Structure (Foundation): Understanding the AS Economics Paper Structure (Paper 1 vs Paper 2)
- 1.14Sample Paper Pattern/ Paper Preparation/ Techniques To Attempt The Paper/ Common Mistakes To Avoid: Paper 2 Section B: Essay Writing Technique (Micro): Writing Strong Introductions That Actually Gain Marks
- 1.15Sample Mock Exam:
- 1.16Sample Mock Exam:
- 1.17Sample Solved Past Paper:
- 1.18Sample Solved Past Paper:
- 1.19Sample Past Paper Session:
- 1.20Sample Past Paper Session:
- Course Related InformationImportant Information Related To The Courses, Live Classes, Zoom Links etc.3
- Notes + Written Material For Contents of The SyllabusNotes for Chapters + Written Resources Regarding The Content159
- 3.1Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 3.2Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Need To Make Choices At All Levels (Individuals, Firms, Governments)
- 3.3Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Nature And Definition Of Opportunity Cost, Arising From Choices
- 3.4Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: What To Produce
- 3.5Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: How To Produce
- 3.6Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: For Whom To Produce
- 3.7Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Economics As A Social Science
- 3.8Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Positive And Normative Statements (The Distinction Between Facts And Value Judgements)
- 3.9Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Meaning Of The Term Ceteris Paribus
- 3.10Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Importance Of The Time Period (Short Run, Long Run, Very Long Run)
- 3.11Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Nature And Definition Of Factors Of Production: Land, Labour, Capital And Enterprise
- 3.12Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Difference Between Human Capital And Physical Capital
- 3.13Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Rewards To The Factors Of Production
- 3.14Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Division Of Labour And Specialisation
- 3.15Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Role Of The Entrepreneur In Contemporary Economies: Risk And Organisation Of The Other Factors Of Production
- 3.16Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Decision-making In Market, Planned And Mixed Economies
- 3.17Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Resource Allocation In These Economic Systems
- 3.18Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Nature And Meaning Of A Production Possibility Curve (Ppc)
- 3.19Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Shape Of The Ppc: Constant And Increasing Opportunity Costs
- 3.20Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Causes And Consequences Of Shifts In A Ppc
- 3.21Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Significance Of A Position Within A Ppc
- 3.22Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Free Goods And Private Goods (Economic Goods)
- 3.23Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Public Goods
- 3.24Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Merit Goods: Under-consumption As A Result Of Imperfect Information In The Market
- 3.25Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Demerit Goods: Over-consumption As A Result Of Imperfect Information In The Market
- 3.26The Price System And The Microeconomy (As Level): Demand And Supply Curves: Effective Demand
- 3.27The Price System And The Microeconomy (As Level): Demand And Supply Curves: Individual And Market Demand And Supply
- 3.28The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Demand
- 3.29The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Supply
- 3.30The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Demand Curve (D)
- 3.31The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Supply Curve (S)
- 3.32The Price System And The Microeconomy (As Level): Demand And Supply Curves: Distinction Between The Shift In The Demand Or Supply Curve And The Movement Along These Curves
- 3.33The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Definition Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand (Ped, Yed, Xed)
- 3.34The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Formulae For And Calculation Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand
- 3.35The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Price Elasticity Of Demand
- 3.36The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Income Elasticity Of Demand
- 3.37The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Cross Elasticity Of Demand
- 3.38The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Descriptions Of Elasticity Values: Perfectly Elastic, (Highly) Elastic, Unitary Elasticity, (Highly) Inelastic, Perfectly Inelastic
- 3.39The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Variation In Price Elasticity Of Demand Along The Length Of A Straight-line Demand Curve
- 3.40The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Price Elasticity Of Demand
- 3.41The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Income Elasticity Of Demand
- 3.42The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Cross Elasticity Of Demand
- 3.43The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Relationship Between Price Elasticity Of Demand And Total Expenditure On A Product
- 3.44The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Implications For Decision-making Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand
- 3.45The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Definition Of Price Elasticity Of Supply (Pes)
- 3.46The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Formula For And Calculation Of Price Elasticity Of Supply
- 3.47The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of Price Elasticity Of Supply
- 3.48The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Factors Affecting Price Elasticity Of Supply
- 3.49The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Implications For Speed And Ease With Which Firms React To Changed Market Conditions
- 3.50The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Definition Of Market Equilibrium And Disequilibrium
- 3.51The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Effects Of Shifts In Demand And Supply Curves On Equilibrium Price And Quantity
- 3.52The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Demand (Complements)
- 3.53The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Alternative Demand (Substitutes)
- 3.54The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Derived Demand
- 3.55The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Supply
- 3.56The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Functions Of Price In Resource Allocation; Rationing, Signalling (Transmission Of Preferences) And Incentivising
- 3.57The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Consumer Surplus
- 3.58The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Producer Surplus
- 3.59The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Causes Of Changes In Consumer And Producer Surplus
- 3.60The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Significance Of Price Elasticity Of Demand And Of Supply In Determining The Extent Of These Changes
- 3.61Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Non-provision Of Public Goods
- 3.62Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Over-consumption Of Demerit Goods And The Under-consumption Of Merit Goods
- 3.63Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Controlling Prices In Markets
- 3.64Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Specific Indirect Taxes
- 3.65Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Subsidies
- 3.66Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Direct Provision Of Goods And Services
- 3.67Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Maximum And Minimum Prices
- 3.68Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Buffer Stock Schemes
- 3.69Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Provision Of Information
- 3.70Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Difference Between Income As A Flow Concept And Wealth As A Stock Concept
- 3.71Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Measuring Income And Wealth Inequality: Gini Coefficient (Calculation Not Required)
- 3.72Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Economic Reasons For Inequality Of Income And Wealth
- 3.73Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Minimum Wage
- 3.74Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Transfer Payments
- 3.75Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Progressive Income Taxes, Inheritance And Capital Taxes
- 3.76Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: State Provision Of Essential Goods And Services
- 3.77The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 3.78The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross Domestic Product (Gdp)
- 3.79The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross National Income (Gni)
- 3.80The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Net National Income (Nni)
- 3.81The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Market Prices To Basic Prices
- 3.82The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Gross Values To Net Values
- 3.83The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Circular Flow Of Income In A Closed Economy And An Open Economy: The Flow Of Income Between Households, Firms And Government And The International Economy
- 3.84The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Injections And Leakages (Multiplier Not Required)
- 3.85The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Equilibrium And Disequilibrium (Marginal And Average Propensities Not Required)
- 3.86The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Demand (Ad)
- 3.87The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Components Of Ad And Their Meanings: Ad = C + I + G + (X – M)
- 3.88The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of Ad (Detailed Knowledge Of The Components Of Ad Is Not Required)
- 3.89The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The Ad Curve (Downward Sloping)
- 3.90The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The Ad Curve
- 3.91The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Supply (As)
- 3.92The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of As
- 3.93The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The As Curve In The Short Run (Sras, Upward Sloping Line Or Sweeping Curve) And The Long Run (Lras, Either A Vertical Line Or In Three Sections – Highly Elastic, Upward Sloping, Vertical)
- 3.94The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The As Curve In The Short Run (Sras) And In The Long Run (Lras)
- 3.95The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Distinction Between A Movement Along And A Shift In Ad And As
- 3.96The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Establishment Of Equilibrium In The Ad/as Model And The Determination Of The Level Of Real Output, The Price Level And Employment
- 3.97cThe Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Establishment Of Equilibrium In The Ad/as Model And The Determination Of The Level Of Real Output, The Price Level And Employment
- 3.98The Macroeconomy (As Level): Economic Growth: Meaning Of Economic Growth
- 3.99The Macroeconomy (As Level): Economic Growth: Measurement Of Economic Growth
- 3.100The Macroeconomy (As Level): Economic Growth: Distinction Between Growth In Nominal Gdp And Real Gdp
- 3.101The Macroeconomy (As Level): Economic Growth: Causes Of Economic Growth
- 3.102The Macroeconomy (As Level): Economic Growth: Consequences Of Economic Growth
- 3.103The Macroeconomy (As Level): Unemployment: Meaning Of Unemployment
- 3.104The Macroeconomy (As Level): Unemployment: Measures Of Unemployment, With Reference To Possible Difficulties In Measurement
- 3.105The Macroeconomy (As Level): Unemployment: Causes And Types Of Unemployment: Frictional, Structural, Cyclical, Seasonal And Technological
- 3.106The Macroeconomy (As Level): Unemployment: Consequences Of Unemployment
- 3.107The Macroeconomy (As Level): Price Stability: Definition Of Inflation, Deflation And Disinflation
- 3.108The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Consumer Price Index (Cpi)
- 3.109The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Possible Difficulties In Measurement
- 3.110The Macroeconomy (As Level): Price Stability: Distinction Between Money Values (Nominal) And Real Data
- 3.111The Macroeconomy (As Level): Price Stability: Causes Of Inflation: Cost-push And Demand-pull Inflation
- 3.112The Macroeconomy (As Level): Price Stability: Consequences Of Inflation
- 3.113Government Macroeconomic Intervention: Government Macroeconomic Policy Objectives: Use Of Government Policy To Achieve Macroeconomic Objectives: Price Stability, Low Unemployment, Economic Growth (Policy Conflicts And Trade-offs Are Not Required)
- 3.114Government Macroeconomic Intervention: Fiscal Policy: Meaning Of Government Budget
- 3.115Government Macroeconomic Intervention: Fiscal Policy: Distinction Between A Government Budget Deficit And A Government Budget Surplus
- 3.116Government Macroeconomic Intervention: Fiscal Policy: Meaning And Significance Of The National Debt
- 3.117Government Macroeconomic Intervention: Fiscal Policy: Taxation: Types Of Taxes: Direct/indirect, Progressive/regressive/proportional
- 3.118Government Macroeconomic Intervention: Fiscal Policy: Taxation: Rates Of Tax: Marginal And Average Rates Of Taxation (Mrt, Art)
- 3.119Government Macroeconomic Intervention: Fiscal Policy: Taxation: Reasons For Taxation
- 3.120Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Types Of Spending: Capital (Investment) And Current
- 3.121Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Reasons For Government Spending
- 3.122Government Macroeconomic Intervention: Fiscal Policy: Distinction Between Expansionary And Contractionary Fiscal Policy
- 3.123Government Macroeconomic Intervention: Fiscal Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Fiscal Policy On The Equilibrium Level Of National Income And The Level Of Real Output, The Price Level And Employment
- 3.124Government Macroeconomic Intervention: Monetary Policy: Definition Of Monetary Policy
- 3.125Government Macroeconomic Intervention: Monetary Policy: Tools Of Monetary Policy: Interest Rates, Money Supply And Credit Regulations
- 3.126Government Macroeconomic Intervention: Monetary Policy: Distinction Between Expansionary And Contractionary Monetary Policy
- 3.127Government Macroeconomic Intervention: Monetary Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Monetary Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 3.128Government Macroeconomic Intervention: Supply-side Policy: Meaning Of Supply-side Policy, In Terms Of Its Effect On Lras Curves
- 3.129Government Macroeconomic Intervention: Supply-side Policy: Objectives Of Supply-side Policy: Increasing Productivity And Productive Capacity
- 3.130Government Macroeconomic Intervention: Supply-side Policy: Tools Of Supply-side Policy, For Example Training, Infrastructure Development, Support For Technological Improvement
- 3.131Government Macroeconomic Intervention: Supply-side Policy: Ad/as Analysis Of The Impact Of Supply-side Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 3.132International Economic Issues (As Level): The Reasons For International Trade: Distinction Between Absolute And Comparative Advantage
- 3.133International Economic Issues (As Level): The Reasons For International Trade: Benefits Of Specialisation And Free Trade (Trade Liberalisation), Including The Trading Possibility Curve
- 3.134International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Measurement Of The Terms Of Trade
- 3.135International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Causes Of Changes In The Terms Of Trade
- 3.136International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Impact Of Changes In The Terms Of Trade
- 3.137International Economic Issues (As Level): Limitations Of The Theories Of Absolute And Comparative Advantage
- 3.138International Economic Issues (As Level): Protectionism: Meaning Of Protectionism In The Context Of International Trade
- 3.139International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Tariffs
- 3.140International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Import Quotas
- 3.141International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Export Subsidies
- 3.142International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Embargoes
- 3.143International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Excessive Administrative Burdens (‘red Tape’)
- 3.144International Economic Issues (As Level): Protectionism: Arguments For And Against Protectionism
- 3.145International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments:Current Account: Trade In Goods, Trade In Services, Primary Income And Secondary Income
- 3.146International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments: Definition Of Balance And Imbalances (Deficit And Surplus) In The Current Account Of The Balance Of Payments
- 3.147International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods
- 3.148International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Services
- 3.149International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods And Services
- 3.150International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Current Account Balance (Cab)
- 3.151International Economic Issues: Current Account Of The Balance Of Payments: Causes Of Imbalances In The Current Account Of The Balance Of Payments
- 3.152International Economic Issues: Current Account Of The Balance Of Payments: Consequences Of Imbalances In The Current Account Of The Balance Of Payments For The Domestic And External Economy
- 3.153International Economic Issues: Exchange Rates: Definition Of Exchange Rate
- 3.154International Economic Issues: Exchange Rates: Determination Of A Floating Exchange Rate
- 3.155International Economic Issues: Exchange Rates: Distinction Between Depreciation And Appreciation Of A Floating Exchange Rate
- 3.156International Economic Issues: Exchange Rates: Causes Of Changes In A Floating Exchange Rate: Demand And Supply Of The Currency
- 3.157International Economic Issues: Exchange Rates: Ad/as Analysis Of The Impact Of Exchange Rate Changes On The Domestic Economy’s Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 3.158International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Government Policy Objective Of Stability Of The Current Account
- 3.159International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Effect Of Fiscal, Monetary, Supply-side And Protectionist Policies On The Current Account
- Video Lectures For The ContentVideo Lectures Covering Course Content In Detail28
- 4.1Scarcity, Choice And Opportunity Cost
- 4.2Economic Methodology
- 4.3Factors of Production
- 4.4Resource Allocation In Different Economic Systems
- 4.5Production Possibility Curves
- 4.6Classification of Goods And Services
- 4.7Demand And Supply Curves
- 4.8Price Elasticity, Income Elasticity And Cross Elasticity of Demand
- 4.9Price Elasticity of Supply
- 4.10The Interaction of Demand And Supply
- 4.11Consumer And Producer Surplus
- 4.12Reasons For Government Intervention In Markets
- 4.13Methods And Effects of Government Intervention In Markets
- 4.14Addressing Income And Wealth Inequality
- 4.15National Income Statistics
- 4.16Introduction To The Circular Flow of Income
- 4.17Aggregate Demand And Aggregate Supply Analysis
- 4.18Economic Growth
- 4.19Unemployment
- 4.20Price Stability
- 4.21Fiscal Policy
- 4.22Government Macroeconomic Policy Objectives
- 4.23Supply-Side Policy
- 4.24The Reasons For International Trade
- 4.25Protectionism
- 4.26Current Account of The Balance of Payments
- 4.27Exchange Rates
- 4.28Policies To Correct Imbalances In The Current Account of The Balance of Payments
- QuizzesShort Quizzes To Auto-Test Your Knowledge of The Syllabus29
- 5.1Scarcity, Choice And Opportunity Cost10 Minutes0 Questions
- 5.2Economic Methodology10 Minutes0 Questions
- 5.3Factors of Production10 Minutes0 Questions
- 5.4Resource Allocation In Different Economic Systems10 Minutes0 Questions
- 5.5Production Possibility Curves10 Minutes0 Questions
- 5.6Classification of Goods And Services10 Minutes0 Questions
- 5.7Demand And Supply Curves10 Minutes0 Questions
- 5.8Price Elasticity, Income Elasticity And Cross Elasticity of Demand10 Minutes0 Questions
- 5.9Price Elasticity of Supply10 Minutes0 Questions
- 5.10The Interaction of Demand And Supply10 Minutes0 Questions
- 5.11Consumer And Producer Surplus10 Minutes0 Questions
- 5.12Reasons For Government Intervention In Markets10 Minutes0 Questions
- 5.13Methods And Effects of Government Intervention In Markets10 Minutes0 Questions
- 5.14Addressing Income And Wealth Inequality10 Minutes0 Questions
- 5.15National Income Statistics10 Minutes0 Questions
- 5.16Introduction To The Circular Flow of Income10 Minutes0 Questions
- 5.17Aggregate Demand And Aggregate Supply Analysis10 Minutes0 Questions
- 5.18Economic Growth10 Minutes0 Questions
- 5.19Unemployment10 Minutes0 Questions
- 5.20Price Stability10 Minutes0 Questions
- 5.21Government Macroeconomic Policy Objectives10 Minutes0 Questions
- 5.22Fiscal Policy10 Minutes0 Questions
- 5.23Monetary Policy10 Minutes0 Questions
- 5.24Supply-Side Policy10 Minutes0 Questions
- 5.25The Reasons For International Trade10 Minutes0 Questions
- 5.26Protectionism10 Minutes0 Questions
- 5.27Current Account of The Balance of Payments10 Minutes0 Questions
- 5.28Exchange Rates10 Minutes0 Questions
- 5.29Policies To Correct Imbalances In The Current Account of The Balance of Payments10 Minutes0 Questions
- Quizzes For PreparationQuizzes With Detailed Explained Answers And Common Mistakes Discussed In Detail160
- 6.1Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 6.2Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Need To Make Choices At All Levels (Individuals, Firms, Governments)
- 6.3Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Nature And Definition Of Opportunity Cost, Arising From Choices
- 6.4Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: What To Produce
- 6.5Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: How To Produce
- 6.6Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: For Whom To Produce
- 6.7Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: For Whom To Produce
- 6.8Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Economics As A Social Science
- 6.9Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Positive And Normative Statements (The Distinction Between Facts And Value Judgements)
- 6.10Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Meaning Of The Term Ceteris Paribus
- 6.11Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Importance Of The Time Period (Short Run, Long Run, Very Long Run)
- 6.12Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Nature And Definition Of Factors Of Production: Land, Labour, Capital And Enterprise
- 6.13Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Difference Between Human Capital And Physical Capital
- 6.14Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Rewards To The Factors Of Production
- 6.15Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Division Of Labour And Specialisation
- 6.16Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Role Of The Entrepreneur In Contemporary Economies: Risk And Organisation Of The Other Factors Of Production
- 6.17Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Decision-making In Market, Planned And Mixed Economies
- 6.18Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Resource Allocation In These Economic Systems
- 6.19Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Nature And Meaning Of A Production Possibility Curve (Ppc)
- 6.20Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Shape Of The Ppc: Constant And Increasing Opportunity Costs
- 6.21Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Causes And Consequences Of Shifts In A Ppc
- 6.22Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Significance Of A Position Within A Ppc
- 6.23Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Free Goods And Private Goods (Economic Goods)
- 6.24Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Public Goods
- 6.25Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Merit Goods: Under-consumption As A Result Of Imperfect Information In The Market
- 6.26Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Demerit Goods: Over-consumption As A Result Of Imperfect Information In The Market
- 6.27The Price System And The Microeconomy (As Level): Demand And Supply Curves: Effective Demand
- 6.28The Price System And The Microeconomy (As Level): Demand And Supply Curves: Individual And Market Demand And Supply
- 6.29The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Demand
- 6.30The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Supply
- 6.31The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Demand Curve (D)
- 6.32The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Supply Curve (S)
- 6.33The Price System And The Microeconomy (As Level): Demand And Supply Curves: Distinction Between The Shift In The Demand Or Supply Curve And The Movement Along These Curves
- 6.34The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Definition Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand (Ped, Yed, Xed)
- 6.35The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Formulae For And Calculation Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand
- 6.36The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Price Elasticity Of Demand
- 6.37The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Income Elasticity Of Demand
- 6.38The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Cross Elasticity Of Demand
- 6.39The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Descriptions Of Elasticity Values: Perfectly Elastic, (Highly) Elastic, Unitary Elasticity, (Highly) Inelastic, Perfectly Inelastic
- 6.40The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Variation In Price Elasticity Of Demand Along The Length Of A Straight-line Demand Curve
- 6.41The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Price Elasticity Of Demand
- 6.42The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Income Elasticity Of Demand
- 6.43The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Cross Elasticity Of Demand
- 6.44The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Relationship Between Price Elasticity Of Demand And Total Expenditure On A Product
- 6.45The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Implications For Decision-making Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand
- 6.46The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Definition Of Price Elasticity Of Supply (Pes)
- 6.47The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Formula For And Calculation Of Price Elasticity Of Supply
- 6.48The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of Price Elasticity Of Supply
- 6.49The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Factors Affecting Price Elasticity Of Supply
- 6.50The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Implications For Speed And Ease With Which Firms React To Changed Market Conditions
- 6.51The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Definition Of Market Equilibrium And Disequilibrium
- 6.52The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Effects Of Shifts In Demand And Supply Curves On Equilibrium Price And Quantity
- 6.53The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Demand (Complements)
- 6.54The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Alternative Demand (Substitutes)
- 6.55The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Derived Demand
- 6.56The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Supply
- 6.57The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Functions Of Price In Resource Allocation; Rationing, Signalling (Transmission Of Preferences) And Incentivising
- 6.58The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Consumer Surplus
- 6.59The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Producer Surplus
- 6.60The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Causes Of Changes In Consumer And Producer Surplus
- 6.61The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Significance Of Price Elasticity Of Demand And Of Supply In Determining The Extent Of These Changes
- 6.62Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Non-provision Of Public Goods
- 6.63Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Over-consumption Of Demerit Goods And The Under-consumption Of Merit Goods
- 6.64Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Controlling Prices In Markets
- 6.65Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Specific Indirect Taxes
- 6.66Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Subsidies
- 6.67Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Direct Provision Of Goods And Services
- 6.68Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Maximum And Minimum Prices
- 6.69Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Buffer Stock Schemes
- 6.70Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Provision Of Information
- 6.71Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Difference Between Income As A Flow Concept And Wealth As A Stock Concept
- 6.72Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Measuring Income And Wealth Inequality: Gini Coefficient (Calculation Not Required)
- 6.73Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Economic Reasons For Inequality Of Income And Wealth
- 6.74Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Minimum Wage
- 6.75Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Transfer Payments
- 6.76Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Progressive Income Taxes, Inheritance And Capital Taxes
- 6.77Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: State Provision Of Essential Goods And Services
- 6.78The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 6.79The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross Domestic Product (Gdp)
- 6.80The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross National Income (Gni)
- 6.81The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Net National Income (Nni)
- 6.82The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Market Prices To Basic Prices
- 6.83The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Gross Values To Net Values
- 6.84The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Circular Flow Of Income In A Closed Economy And An Open Economy: The Flow Of Income Between Households, Firms And Government And The International Economy
- 6.85The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Injections And Leakages (Multiplier Not Required)
- 6.86The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Equilibrium And Disequilibrium (Marginal And Average Propensities Not Required)
- 6.87The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Demand (Ad)
- 6.88The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Components Of Ad And Their Meanings: Ad = C + I + G + (X – M)
- 6.89The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of Ad (Detailed Knowledge Of The Components Of Ad Is Not Required)
- 6.90The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The Ad Curve (Downward Sloping)
- 6.91The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The Ad Curve
- 6.92The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Supply (As)
- 6.93The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of As
- 6.94The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The As Curve In The Short Run (Sras, Upward Sloping Line Or Sweeping Curve) And The Long Run (Lras, Either A Vertical Line Or In Three Sections – Highly Elastic, Upward Sloping, Vertical)
- 6.95The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The As Curve In The Short Run (Sras) And In The Long Run (Lras)
- 6.96The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Distinction Between A Movement Along And A Shift In Ad And As
- 6.97The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Establishment Of Equilibrium In The Ad/as Model And The Determination Of The Level Of Real Output, The Price Level And Employment
- 6.98The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Effects Of Shifts In The Ad Curve And The As Curve On The Level Of Real Output, The Price Level And Employment
- 6.99The Macroeconomy (As Level): Economic Growth: Meaning Of Economic Growth
- 6.100The Macroeconomy (As Level): Economic Growth: Measurement Of Economic Growth
- 6.101The Macroeconomy (As Level): Economic Growth: Distinction Between Growth In Nominal Gdp And Real Gdp
- 6.102The Macroeconomy (As Level): Economic Growth: Causes Of Economic Growth
- 6.103The Macroeconomy (As Level): Economic Growth: Consequences Of Economic Growth
- 6.104The Macroeconomy (As Level): Unemployment: Meaning Of Unemployment
- 6.105The Macroeconomy (As Level): Unemployment: Measures Of Unemployment, With Reference To Possible Difficulties In Measurement
- 6.106The Macroeconomy (As Level): Unemployment: Causes And Types Of Unemployment: Frictional, Structural, Cyclical, Seasonal And Technological
- 6.107The Macroeconomy (As Level): Unemployment: Consequences Of Unemployment
- 6.108The Macroeconomy (As Level): Price Stability: Definition Of Inflation, Deflation And Disinflation
- 6.109The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Consumer Price Index (Cpi)
- 6.110The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Possible Difficulties In Measurement
- 6.111The Macroeconomy (As Level): Price Stability: Distinction Between Money Values (Nominal) And Real Data
- 6.112The Macroeconomy (As Level): Price Stability: Causes Of Inflation: Cost-push And Demand-pull Inflation
- 6.113The Macroeconomy (As Level): Price Stability: Consequences Of Inflation
- 6.114Government Macroeconomic Intervention: Government Macroeconomic Policy Objectives: Use Of Government Policy To Achieve Macroeconomic Objectives: Price Stability, Low Unemployment, Economic Growth (Policy Conflicts And Trade-offs Are Not Required)
- 6.115Government Macroeconomic Intervention: Fiscal Policy: Meaning Of Government Budget
- 6.116Government Macroeconomic Intervention: Fiscal Policy: Distinction Between A Government Budget Deficit And A Government Budget Surplus
- 6.117Government Macroeconomic Intervention: Fiscal Policy: Meaning And Significance Of The National Debt
- 6.118Government Macroeconomic Intervention: Fiscal Policy: Taxation: Types Of Taxes: Direct/indirect, Progressive/regressive/proportional
- 6.119Government Macroeconomic Intervention: Fiscal Policy: Taxation: Rates Of Tax: Marginal And Average Rates Of Taxation (Mrt, Art)
- 6.120Government Macroeconomic Intervention: Fiscal Policy: Taxation: Reasons For Taxation
- 6.121Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Types Of Spending: Capital (Investment) And Current
- 6.122Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Reasons For Government Spending
- 6.123Government Macroeconomic Intervention: Fiscal Policy: Distinction Between Expansionary And Contractionary Fiscal Policy
- 6.124Government Macroeconomic Intervention: Fiscal Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Fiscal Policy On The Equilibrium Level Of National Income And The Level Of Real Output, The Price Level And Employment
- 6.125Government Macroeconomic Intervention: Monetary Policy: Definition Of Monetary Policy
- 6.126Government Macroeconomic Intervention: Monetary Policy: Tools Of Monetary Policy: Interest Rates, Money Supply And Credit Regulations
- 6.127Government Macroeconomic Intervention: Monetary Policy: Distinction Between Expansionary And Contractionary Monetary Policy
- 6.128Government Macroeconomic Intervention: Monetary Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Monetary Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 6.129Government Macroeconomic Intervention: Supply-side Policy: Meaning Of Supply-side Policy, In Terms Of Its Effect On Lras Curves
- 6.130Government Macroeconomic Intervention: Supply-side Policy: Objectives Of Supply-side Policy: Increasing Productivity And Productive Capacity
- 6.131Government Macroeconomic Intervention: Supply-side Policy: Tools Of Supply-side Policy, For Example Training, Infrastructure Development, Support For Technological Improvement
- 6.132Government Macroeconomic Intervention: Supply-side Policy: Ad/as Analysis Of The Impact Of Supply-side Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 6.133International Economic Issues (As Level): The Reasons For International Trade: Distinction Between Absolute And Comparative Advantage
- 6.134International Economic Issues (As Level): The Reasons For International Trade: Benefits Of Specialisation And Free Trade (Trade Liberalisation), Including The Trading Possibility Curve
- 6.135International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Measurement Of The Terms Of Trade
- 6.136International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Causes Of Changes In The Terms Of Trade
- 6.137International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Impact Of Changes In The Terms Of Trade
- 6.138International Economic Issues (As Level): Limitations Of The Theories Of Absolute And Comparative Advantage
- 6.139International Economic Issues (As Level): Protectionism: Meaning Of Protectionism In The Context Of International Trade
- 6.140International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Tariffs
- 6.141International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Import Quotas
- 6.142International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Export Subsidies
- 6.143International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Embargoes
- 6.144International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Excessive Administrative Burdens (‘red Tape’)
- 6.145International Economic Issues (As Level): Protectionism: Arguments For And Against Protectionism
- 6.146International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments:Current Account: Trade In Goods, Trade In Services, Primary Income And Secondary Income
- 6.147International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments: Definition Of Balance And Imbalances (Deficit And Surplus) In The Current Account Of The Balance Of Payments
- 6.148International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods
- 6.149International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Services
- 6.150International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods And Services
- 6.151International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Current Account Balance (Cab)
- 6.152International Economic Issues: Current Account Of The Balance Of Payments: Causes Of Imbalances In The Current Account Of The Balance Of Payments
- 6.153International Economic Issues: Current Account Of The Balance Of Payments: Consequences Of Imbalances In The Current Account Of The Balance Of Payments For The Domestic And External Economy
- 6.154International Economic Issues: Exchange Rates: Definition Of Exchange Rate
- 6.155International Economic Issues: Exchange Rates: Determination Of A Floating Exchange Rate
- 6.156International Economic Issues: Exchange Rates: Distinction Between Depreciation And Appreciation Of A Floating Exchange Rate
- 6.157International Economic Issues: Exchange Rates: Causes Of Changes In A Floating Exchange Rate: Demand And Supply Of The Currency
- 6.158International Economic Issues: Exchange Rates: Ad/as Analysis Of The Impact Of Exchange Rate Changes On The Domestic Economy’s Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 6.159International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Government Policy Objective Of Stability Of The Current Account
- 6.160International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Effect Of Fiscal, Monetary, Supply-side And Protectionist Policies On The Current Account
- AssignmentsDetailed Assignments For Syllabus Preparation (Including Past Paper Questions)29
- 7.1Scarcity, Choice And Opportunity Cost3 Days
- 7.2Economic Methodology3 Days
- 7.3Factors of Production3 Days
- 7.4Resource Allocation In Different Economic Systems3 Days
- 7.5Production Possibility Curves3 Days
- 7.6Classification of Goods And Services3 Days
- 7.7Demand And Supply Curves3 Days
- 7.8Price Elasticity, Income Elasticity And Cross Elasticity of Demand3 Days
- 7.9Price Elasticity of Supply3 Days
- 7.10The Interaction of Demand And Supply3 Days
- 7.11Consumer And Producer Surplus3 Days
- 7.12Reasons For Government Intervention In Markets3 Days
- 7.13Methods And Effects of Government Intervention In Markets3 Days
- 7.14Addressing Income And Wealth Inequality3 Days
- 7.15National Income Statistics3 Days
- 7.16Introduction To The Circular Flow of Income3 Days
- 7.17Aggregate Demand And Aggregate Supply Analysis3 Days
- 7.18Economic Growth3 Days
- 7.19Unemployment3 Days
- 7.20Price Stability3 Days
- 7.21Government Macroeconomic Policy Objectives3 Days
- 7.22Fiscal Policy3 Days
- 7.23Monetary Policy3 Days
- 7.24Supply-Side Policy3 Days
- 7.25The Reasons For International Trade3 Days
- 7.26Protectionism3 Days
- 7.27Current Account of The Balance of Payments3 Days
- 7.28Exchange Rates3 Days
- 7.29Policies To Correct Imbalances In The Current Account of The Balance of Payments3 Days
- Paper Pattern/ Paper Preparation/ Techniques To Attempt The Paper/ Common Mistakes To AvoidDetailed Information Including Written + Video Material Regarding Paper Attempt / Preparation/ Techniques/ Common Mistakes To Avoid50
- 8.1Understanding the Paper Structure (Foundation): Understanding the AS Economics Paper Structure (Paper 1 vs Paper 2)
- 8.2Understanding the Paper Structure (Foundation): Marks Distribution and Assessment Objectives (AO1, AO2, AO3 Explained)
- 8.3Understanding the Paper Structure (Foundation): Command Words Decoded: State, Explain, Analyse, Assess, Evaluate
- 8.4Understanding the Paper Structure (Foundation): How Examiners Actually Award Marks (Positive Marking System)
- 8.5Understanding the Paper Structure (Foundation): The Difference Between Knowledge, Analysis and Evaluation in Answers
- 8.6Understanding the Paper Structure (Foundation): Why Long Answers Still Get Low Marks (Relevance vs Length)
- 8.7Paper 1: Multiple Choice (MCQs) Strategy: How AS Level Economics MCQs Are Designed (Concept Traps Explained)
- 8.8Paper 1: Multiple Choice (MCQs) Strategy: Common MCQ Misconceptions in Microeconomics (Public vs Merit Goods etc.)
- 8.9Paper 1: Multiple Choice (MCQs) Strategy: Common MCQ Misconceptions in Macroeconomics (Inflation, Exchange Rates)
- 8.10Paper 1: Multiple Choice (MCQs) Strategy: Interpreting Data, Tables and Diagrams in MCQs
- 8.11Paper 1: Multiple Choice (MCQs) Strategy: “Which Is NOT Correct” Questions: How to Avoid Careless Errors
- 8.12Paper 1: Multiple Choice (MCQs) Strategy: Opportunity Cost & PPC MCQs: Examiner Favourite Traps
- 8.13Paper 1: Multiple Choice (MCQs) Strategy: Elasticity MCQs: Why Candidates Confuse PED, PES, XED and YED
- 8.14Paper 1: Multiple Choice (MCQs) Strategy: Market Structure MCQs: Typical Confusions in Cost Curves and Efficiency
- 8.15Paper 1: Multiple Choice (MCQs) Strategy: Balance of Payments MCQs: Primary vs Secondary Income Errors
- 8.16Paper 1: Multiple Choice (MCQs) Strategy: Guessing vs Eliminating Options: Smart MCQ Techniques
- 8.17Paper 1: Multiple Choice (MCQs) Strategy: Time Management Strategy for Paper 1
- 8.18Paper 1: Multiple Choice (MCQs) Strategy: Most Repeated MCQ Topics According to Examiner Reports
- 8.19Paper 2 Section A: Data Response Skills: How to Read and Use the Data Properly (Not Copying It)
- 8.20Paper 2 Section A: Data Response Skills: 2-Mark Questions: Why Candidates Lose Easy Marks
- 8.21Paper 2 Section A: Data Response Skills: 4-Mark Questions: Explained Analysis, Not Just Definitions
- 8.22Paper 2 Section A: Data Response Skills: 6-Mark Questions: Structuring Analysis + Evaluation Together
- 8.23Paper 2 Section A: Data Response Skills: Calculations in Data Response: Percentage Change & Real Values
- 8.24Paper 2 Section A: Data Response Skills: Using Diagrams Correctly in Data Response (When Required vs Optional)
- 8.25Paper 2 Section A: Data Response Skills: Linking Data to Theory Without Rewriting the Extract
- 8.26Paper 2 Section A: Data Response Skills: How to Conclude a Data Response Answer Effectively
- 8.27Paper 2 Section A: Data Response Skills: Common Data Response Mistakes Highlighted by Examiners
- 8.28Paper 2 Section B: Essay Writing Technique (Micro): Essay Planning Under Exam Conditions (2–3 Minute Rule)
- 8.29Paper 2 Section B: Essay Writing Technique (Micro): Writing Strong Introductions That Actually Gain Marks
- 8.30Paper 2 Section B: Essay Writing Technique (Micro): Microeconomic Diagrams: Precision, Labelling and Common Errors
- 8.31Paper 2 Section B: Essay Writing Technique (Micro): Explaining Elasticities in Context (Not Just Definitions)
- 8.32Paper 2 Section B: Essay Writing Technique (Micro): Market Failure Essays: Evaluation Beyond Listing Problems
- 8.33Paper 2 Section B: Essay Writing Technique (Micro): Price Controls Essays: Maximum vs Minimum Price Confusion
- 8.34Paper 2 Section B: Essay Writing Technique (Micro): Public, Merit and Private Goods: Examiner’s Most Hated Errors
- 8.35Paper 2 Section B: Essay Writing Technique (Micro): Market Structure Essays: Efficiency vs Profit Confusion
- 8.36Paper 2 Section B: Essay Writing Technique (Micro): How to Evaluate “To What Extent” Questions Properly
- 8.37Paper 2 Section C: Essay Writing Technique (Macro): AD/AS Diagrams: Why Incorrect Axes Kill Marks
- 8.38Paper 2 Section C: Essay Writing Technique (Macro): Inflation, Unemployment and Growth Essays: Linking Objectives
- 8.39Paper 2 Section C: Essay Writing Technique (Macro): Fiscal Policy Essays: Budget Deficit vs Current Account Confusion
- 8.40Paper 2 Section C: Essay Writing Technique (Macro): Monetary Policy Essays: Over-Explaining Tools, Under-Evaluating Impact
- 8.41Paper 2 Section C: Essay Writing Technique (Macro): Supply-Side Policies: Short Run vs Long Run Confusion
- 8.42Paper 2 Section C: Essay Writing Technique (Macro): Balance of Payments Essays: Trade Balance vs Current Account Errors
- 8.43Paper 2 Section C: Essay Writing Technique (Macro): Exchange Rate Essays: Appreciation vs Depreciation Misuse
- 8.44Paper 2 Section C: Essay Writing Technique (Macro): Economic Growth Essays: Actual vs Potential Growth Mistakes
- 8.45Paper 2 Section C: Essay Writing Technique (Macro): Development vs Growth: Common Examiner Complaints
- 8.46Evaluation Mastery & Examiner Expectations: What Counts as Evaluation (And What Does NOT)
- 8.47Evaluation Mastery & Examiner Expectations: How to Compare, Judge and Conclude for Full AO3 Marks
- 8.48Evaluation Mastery & Examiner Expectations: Why One-Sided Answers Are Capped at Mid-Level Marks
- 8.49Evaluation Mastery & Examiner Expectations: Examiner Language vs Student Language (High-Band Difference)
- 8.50Evaluation Mastery & Examiner Expectations: Final Exam-Day Strategy: Time Allocation, Order of Questions & Final Checks
- Solved Past PapersDetailed Written Explanations And Solutions of Past Papers, Including Model Answers and Explanations For Past Paper Questions0
- Past Paper SessionsVideo Content Regarding Past Paper Solutions0
- Notes (Rearranged Version)Notes Arranged In A Different Style For Preparation Ease29
- 11.1Scarcity, Choice And Opportunity Cost
- 11.2Economic Methodology
- 11.3Factors of Production
- 11.4Resource Allocation In Different Economic Systems
- 11.5Production Possibility Curves
- 11.6Classification of Goods And Services
- 11.7Demand And Supply Curves
- 11.8Price Elasticity, Income Elasticity And Cross Elasticity of Demand
- 11.9Price Elasticity of Supply
- 11.10The Interaction of Demand And Supply
- 11.11Consumer And Producer Surplus
- 11.12Reasons For Government Intervention In Markets
- 11.13Methods And Effects of Government Intervention In Markets
- 11.14Addressing Income And Wealth Inequality
- 11.15National Income Statistics
- 11.16Introduction To The Circular Flow of Income
- 11.17Aggregate Demand And Aggregate Supply Analysis
- 11.18Economic Growth
- 11.19Unemployment
- 11.20Price Stability
- 11.21Government Macroeconomic Policy Objectives
- 11.22Fiscal Policy
- 11.23Monetary Policy
- 11.24Supply-Side Policy
- 11.25The Reasons For International Trade
- 11.26Protectionism
- 11.27Current Account of The Balance of Payments
- 11.28Exchange Rates
- 11.29Policies To Correct Imbalances In The Current Account of The Balance of Payments
- Videos Lectures (Pre-Recorded)Videos Recorded In A Different Style For Preparation Ease0
- Graphs Guide50
- 13.1Basic Economic Diagrams (Foundations): Production Possibility Curve (PPC): Scarcity, Choice and Opportunity Cost
- 13.2Basic Economic Diagrams (Foundations): PPC Shifts: Economic Growth, Technological Progress and Resource Changes
- 13.3Basic Economic Diagrams (Foundations): PPC and Comparative Advantage Between Two Countries
- 13.4Basic Economic Diagrams (Foundations): Circular Flow of Income Diagram (Two-Sector Model)
- 13.5Basic Economic Diagrams (Foundations): Circular Flow with Government and Foreign Sector (Leakages & Injections)
- 13.6Demand, Supply and Market Equilibrium: Demand Curve: Movements vs Shifts
- 13.7Demand, Supply and Market Equilibrium: Supply Curve: Movements vs Shifts
- 13.8Demand, Supply and Market Equilibrium: Market Equilibrium: Price Determination
- 13.9Demand, Supply and Market Equilibrium: Excess Demand and Excess Supply Diagrams
- 13.10Demand, Supply and Market Equilibrium: Impact of Demand Increase on Price and Quantity
- 13.11Demand, Supply and Market Equilibrium: Impact of Supply Decrease on Price and Quantity
- 13.12Demand, Supply and Market Equilibrium: Combined Demand and Supply Shifts Diagram
- 13.13Elasticity Diagrams: Price Elasticity of Demand: Elastic vs Inelastic Demand Curves
- 13.14Elasticity Diagrams: PED and Revenue Relationship Diagram
- 13.15Elasticity Diagrams: Income Elasticity of Demand (Normal vs Inferior Goods)
- 13.16Elasticity Diagrams: Cross Elasticity of Demand (Substitutes & Complements)
- 13.17Elasticity Diagrams: Price Elasticity of Supply: Short Run vs Long Run
- 13.18Elasticity Diagrams: Elasticity and Incidence of Tax Diagram
- 13.19Consumer Theory (Micro Foundations): Marginal Utility Curve and Law of Diminishing Marginal Utility
- 13.20Consumer Theory (Micro Foundations): Total Utility and Marginal Utility Relationship Diagram
- 13.21Consumer Theory (Micro Foundations): Consumer Surplus Diagram
- 13.22Consumer Theory (Micro Foundations): Changes in Consumer Surplus due to Price Changes
- 13.23Producer Theory and Costs: Short-Run Cost Curves: AFC, AVC, ATC, MC
- 13.24Producer Theory and Costs: Relationship Between MC and AVC/ATC
- 13.25Producer Theory and Costs: Long-Run Average Cost Curve and Economies of Scale
- 13.26Producer Theory and Costs: Diseconomies of Scale Diagram
- 13.27Producer Theory and Costs: Revenue Curves: TR, AR, MR (Perfect Competition Context)
- 13.28Market Structures: Perfect Competition: Short-Run Equilibrium Diagram
- 13.29Market Structures: Perfect Competition: Long-Run Equilibrium Diagram
- 13.30Market Structures: Monopoly: Profit Maximisation Diagram
- 13.31Market Structures: Monopoly: Supernormal, Normal and Loss Diagrams
- 13.32Market Structures: Monopoly vs Perfect Competition Efficiency Comparison
- 13.33Market Structures: Allocative Efficiency Diagram
- 13.34Market Structures: Productive Efficiency Diagram
- 13.35Market Structures: Dynamic Efficiency Diagram (Innovation & Investment)
- 13.36Market Failure and Government Intervention: Negative Externality of Production Diagram
- 13.37Market Failure and Government Intervention: Negative Externality of Consumption Diagram
- 13.38Market Failure and Government Intervention: Positive Externality of Consumption Diagram
- 13.39Market Failure and Government Intervention: Social Cost, Private Cost and Social Benefit Diagram
- 13.40Market Failure and Government Intervention: Indirect Tax Diagram and Government Revenue
- 13.41Market Failure and Government Intervention: Subsidy Diagram and Impact on Consumption
- 13.42Market Failure and Government Intervention: Maximum Price (Price Ceiling) Diagram
- 13.43Market Failure and Government Intervention: Minimum Price (Price Floor) Diagram
- 13.44Macroeconomic Diagrams (Core): Aggregate Demand (AD) Curve
- 13.45Macroeconomic Diagrams (Core): Aggregate Supply (AS) Curve
- 13.46Macroeconomic Diagrams (Core): AD–AS Equilibrium Diagram
- 13.47Macroeconomic Diagrams (Core): Demand-Pull Inflation Diagram
- 13.48Macroeconomic Diagrams (Core): Cost-Push Inflation Diagram
- 13.49Macroeconomic Diagrams (Core): Deflationary Gap and Inflationary Gap Diagrams
- 13.50Macroeconomic Diagrams (Core): Economic Growth Using AD–AS and PPC Combined
- Cheat SheetsShort, Quick Revision Cheat Sheets159
- 14.1Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 14.2Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Need To Make Choices At All Levels (Individuals, Firms, Governments)
- 14.3Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Nature And Definition Of Opportunity Cost, Arising From Choices
- 14.4Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: What To Produce
- 14.5Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: How To Produce
- 14.6Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: For Whom To Produce
- 14.7Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Economics As A Social Science
- 14.8Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Positive And Normative Statements (The Distinction Between Facts And Value Judgements)
- 14.9Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Meaning Of The Term Ceteris Paribus
- 14.10Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Importance Of The Time Period (Short Run, Long Run, Very Long Run)
- 14.11Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Nature And Definition Of Factors Of Production: Land, Labour, Capital And Enterprise
- 14.12Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Difference Between Human Capital And Physical Capital
- 14.13Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Rewards To The Factors Of Production
- 14.14Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Division Of Labour And Specialisation
- 14.15Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Role Of The Entrepreneur In Contemporary Economies: Risk And Organisation Of The Other Factors Of Production
- 14.16Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Decision-making In Market, Planned And Mixed Economies
- 14.17Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Resource Allocation In These Economic Systems
- 14.18Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Nature And Meaning Of A Production Possibility Curve (Ppc)
- 14.19Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Shape Of The Ppc: Constant And Increasing Opportunity Costs
- 14.20Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Causes And Consequences Of Shifts In A Ppc
- 14.21Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Significance Of A Position Within A Ppc
- 14.22Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Free Goods And Private Goods (Economic Goods)
- 14.23Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Public Goods
- 14.24Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Merit Goods: Under-consumption As A Result Of Imperfect Information In The Market
- 14.25Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Demerit Goods: Over-consumption As A Result Of Imperfect Information In The Market
- 14.26The Price System And The Microeconomy (As Level): Demand And Supply Curves: Effective Demand
- 14.27The Price System And The Microeconomy (As Level): Demand And Supply Curves: Individual And Market Demand And Supply
- 14.28The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Demand
- 14.29The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Supply
- 14.30The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Demand Curve (D)
- 14.31The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Supply Curve (S)
- 14.32The Price System And The Microeconomy (As Level): Demand And Supply Curves: Distinction Between The Shift In The Demand Or Supply Curve And The Movement Along These Curves
- 14.33The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Definition Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand (Ped, Yed, Xed)
- 14.34The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Formulae For And Calculation Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand
- 14.35The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Price Elasticity Of Demand
- 14.36The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Income Elasticity Of Demand
- 14.37The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Cross Elasticity Of Demand
- 14.38The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Descriptions Of Elasticity Values: Perfectly Elastic, (Highly) Elastic, Unitary Elasticity, (Highly) Inelastic, Perfectly Inelastic
- 14.39The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Variation In Price Elasticity Of Demand Along The Length Of A Straight-line Demand Curve
- 14.40The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Price Elasticity Of Demand
- 14.41The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Income Elasticity Of Demand
- 14.42The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Cross Elasticity Of Demand
- 14.43The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Relationship Between Price Elasticity Of Demand And Total Expenditure On A Product
- 14.44The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Implications For Decision-making Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand
- 14.45The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Definition Of Price Elasticity Of Supply (Pes)
- 14.46The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Formula For And Calculation Of Price Elasticity Of Supply
- 14.47The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of Price Elasticity Of Supply
- 14.48The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Factors Affecting Price Elasticity Of Supply
- 14.49The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Implications For Speed And Ease With Which Firms React To Changed Market Conditions
- 14.50The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Definition Of Market Equilibrium And Disequilibrium
- 14.51The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Effects Of Shifts In Demand And Supply Curves On Equilibrium Price And Quantity
- 14.52The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Demand (Complements)
- 14.53The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Alternative Demand (Substitutes)
- 14.54The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Derived Demand
- 14.55The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Supply
- 14.56The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Functions Of Price In Resource Allocation; Rationing, Signalling (Transmission Of Preferences) And Incentivising
- 14.57The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Consumer Surplus
- 14.58The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Producer Surplus
- 14.59The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Causes Of Changes In Consumer And Producer Surplus
- 14.60The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Significance Of Price Elasticity Of Demand And Of Supply In Determining The Extent Of These Changes
- 14.61Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Non-provision Of Public Goods
- 14.62Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Over-consumption Of Demerit Goods And The Under-consumption Of Merit Goods
- 14.63Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Controlling Prices In Markets
- 14.64Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Specific Indirect Taxes
- 14.65Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Subsidies
- 14.66Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Direct Provision Of Goods And Services
- 14.67Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Maximum And Minimum Prices
- 14.68Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Buffer Stock Schemes
- 14.69Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Provision Of Information
- 14.70Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Difference Between Income As A Flow Concept And Wealth As A Stock Concept
- 14.71Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Measuring Income And Wealth Inequality: Gini Coefficient (Calculation Not Required)
- 14.72Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Economic Reasons For Inequality Of Income And Wealth
- 14.73Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Minimum Wage
- 14.74Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Transfer Payments
- 14.75Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Progressive Income Taxes, Inheritance And Capital Taxes
- 14.76Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: State Provision Of Essential Goods And Services
- 14.77The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 14.78The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross Domestic Product (Gdp)
- 14.79The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross National Income (Gni)
- 14.80The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Net National Income (Nni)
- 14.81The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Market Prices To Basic Prices
- 14.82The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Gross Values To Net Values
- 14.83The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Circular Flow Of Income In A Closed Economy And An Open Economy: The Flow Of Income Between Households, Firms And Government And The International Economy
- 14.84The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Injections And Leakages (Multiplier Not Required)
- 14.85The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Equilibrium And Disequilibrium (Marginal And Average Propensities Not Required)
- 14.86The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Demand (Ad)
- 14.87The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Components Of Ad And Their Meanings: Ad = C + I + G + (X – M)
- 14.88The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of Ad (Detailed Knowledge Of The Components Of Ad Is Not Required)
- 14.89The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The Ad Curve (Downward Sloping)
- 14.90The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The Ad Curve
- 14.91The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Supply (As)
- 14.92The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of As
- 14.93The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The As Curve In The Short Run (Sras, Upward Sloping Line Or Sweeping Curve) And The Long Run (Lras, Either A Vertical Line Or In Three Sections – Highly Elastic, Upward Sloping, Vertical)
- 14.94The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The As Curve In The Short Run (Sras) And In The Long Run (Lras)
- 14.95The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Distinction Between A Movement Along And A Shift In Ad And As
- 14.96The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Establishment Of Equilibrium In The Ad/as Model And The Determination Of The Level Of Real Output, The Price Level And Employment
- 14.97The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Effects Of Shifts In The Ad Curve And The As Curve On The Level Of Real Output, The Price Level And Employment
- 14.98The Macroeconomy (As Level): Economic Growth: Meaning Of Economic Growth
- 14.99The Macroeconomy (As Level): Economic Growth: Measurement Of Economic Growth
- 14.100The Macroeconomy (As Level): Economic Growth: Distinction Between Growth In Nominal Gdp And Real Gdp
- 14.101The Macroeconomy (As Level): Economic Growth: Causes Of Economic Growth
- 14.102The Macroeconomy (As Level): Economic Growth: Consequences Of Economic Growth
- 14.103The Macroeconomy (As Level): Unemployment: Meaning Of Unemployment
- 14.104The Macroeconomy (As Level): Unemployment: Measures Of Unemployment, With Reference To Possible Difficulties In Measurement
- 14.105The Macroeconomy (As Level): Unemployment: Causes And Types Of Unemployment: Frictional, Structural, Cyclical, Seasonal And Technological
- 14.106The Macroeconomy (As Level): Unemployment: Consequences Of Unemployment
- 14.107The Macroeconomy (As Level): Price Stability: Definition Of Inflation, Deflation And Disinflation
- 14.108The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Consumer Price Index (Cpi)
- 14.109The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Possible Difficulties In Measurement
- 14.110The Macroeconomy (As Level): Price Stability: Distinction Between Money Values (Nominal) And Real Data
- 14.111The Macroeconomy (As Level): Price Stability: Causes Of Inflation: Cost-push And Demand-pull Inflation
- 14.112The Macroeconomy (As Level): Price Stability: Consequences Of Inflation
- 14.113Government Macroeconomic Intervention: Government Macroeconomic Policy Objectives: Use Of Government Policy To Achieve Macroeconomic Objectives: Price Stability, Low Unemployment, Economic Growth (Policy Conflicts And Trade-offs Are Not Required)
- 14.114Government Macroeconomic Intervention: Fiscal Policy: Meaning Of Government Budget
- 14.115Government Macroeconomic Intervention: Fiscal Policy: Distinction Between A Government Budget Deficit And A Government Budget Surplus
- 14.116Government Macroeconomic Intervention: Fiscal Policy: Meaning And Significance Of The National Debt
- 14.117Government Macroeconomic Intervention: Fiscal Policy: Taxation: Types Of Taxes: Direct/indirect, Progressive/regressive/proportional
- 14.118Government Macroeconomic Intervention: Fiscal Policy: Taxation: Rates Of Tax: Marginal And Average Rates Of Taxation (Mrt, Art)
- 14.119Government Macroeconomic Intervention: Fiscal Policy: Taxation: Reasons For Taxation
- 14.120Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Types Of Spending: Capital (Investment) And Current
- 14.121Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Reasons For Government Spending
- 14.122Government Macroeconomic Intervention: Fiscal Policy: Distinction Between Expansionary And Contractionary Fiscal Policy
- 14.123Government Macroeconomic Intervention: Fiscal Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Fiscal Policy On The Equilibrium Level Of National Income And The Level Of Real Output, The Price Level And Employment
- 14.124Government Macroeconomic Intervention: Monetary Policy: Definition Of Monetary Policy
- 14.125Government Macroeconomic Intervention: Monetary Policy: Tools Of Monetary Policy: Interest Rates, Money Supply And Credit Regulations
- 14.126Government Macroeconomic Intervention: Monetary Policy: Distinction Between Expansionary And Contractionary Monetary Policy
- 14.127Government Macroeconomic Intervention: Monetary Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Monetary Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 14.128Government Macroeconomic Intervention: Supply-side Policy: Meaning Of Supply-side Policy, In Terms Of Its Effect On Lras Curves
- 14.129Government Macroeconomic Intervention: Supply-side Policy: Objectives Of Supply-side Policy: Increasing Productivity And Productive Capacity
- 14.130Government Macroeconomic Intervention: Supply-side Policy: Tools Of Supply-side Policy, For Example Training, Infrastructure Development, Support For Technological Improvement
- 14.131Government Macroeconomic Intervention: Supply-side Policy: Ad/as Analysis Of The Impact Of Supply-side Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 14.132International Economic Issues (As Level): The Reasons For International Trade: Distinction Between Absolute And Comparative Advantage
- 14.133International Economic Issues (As Level): The Reasons For International Trade: Benefits Of Specialisation And Free Trade (Trade Liberalisation), Including The Trading Possibility Curve
- 14.134International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Measurement Of The Terms Of Trade
- 14.135International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Causes Of Changes In The Terms Of Trade
- 14.136International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Impact Of Changes In The Terms Of Trade
- 14.137International Economic Issues (As Level): Limitations Of The Theories Of Absolute And Comparative Advantage
- 14.138International Economic Issues (As Level): Protectionism: Meaning Of Protectionism In The Context Of International Trade
- 14.139International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Tariffs
- 14.140International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Import Quotas
- 14.141International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Export Subsidies
- 14.142International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Embargoes
- 14.143International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Excessive Administrative Burdens (‘red Tape’)
- 14.144International Economic Issues (As Level): Protectionism: Arguments For And Against Protectionism
- 14.145International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments:Current Account: Trade In Goods, Trade In Services, Primary Income And Secondary Income
- 14.146International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments: Definition Of Balance And Imbalances (Deficit And Surplus) In The Current Account Of The Balance Of Payments
- 14.147International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods
- 14.148International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Services
- 14.149International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods And Services
- 14.150International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Current Account Balance (Cab)
- 14.151International Economic Issues: Current Account Of The Balance Of Payments: Causes Of Imbalances In The Current Account Of The Balance Of Payments
- 14.152International Economic Issues: Current Account Of The Balance Of Payments: Consequences Of Imbalances In The Current Account Of The Balance Of Payments For The Domestic And External Economy
- 14.153International Economic Issues: Exchange Rates: Definition Of Exchange Rate
- 14.154International Economic Issues: Exchange Rates: Determination Of A Floating Exchange Rate
- 14.155International Economic Issues: Exchange Rates: Distinction Between Depreciation And Appreciation Of A Floating Exchange Rate
- 14.156International Economic Issues: Exchange Rates: Causes Of Changes In A Floating Exchange Rate: Demand And Supply Of The Currency
- 14.157International Economic Issues: Exchange Rates: Ad/as Analysis Of The Impact Of Exchange Rate Changes On The Domestic Economy’s Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 14.158International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Government Policy Objective Of Stability Of The Current Account
- 14.159International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Effect Of Fiscal, Monetary, Supply-side And Protectionist Policies On The Current Account
- Practice Questions/ Practice ExamsPractice Questions/ Exams Based Both On Actual Exam Pattern And On Topical Content To Boost Preparation And Improve Performance158
- 15.1Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Fundamental Economic Problem Of Scarcity
- 15.2Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Need To Make Choices At All Levels (Individuals, Firms, Governments)
- 15.3Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Nature And Definition Of Opportunity Cost, Arising From Choices
- 15.4Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: What To Produce
- 15.5Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: How To Produce
- 15.6Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Scarcity, Choice And Opportunity Cost: Basic Questions Of Resource Allocation: For Whom To Produce
- 15.7Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Economics As A Social Science
- 15.8Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Positive And Normative Statements (The Distinction Between Facts And Value Judgements)
- 15.9Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Meaning Of The Term Ceteris Paribus
- 15.10Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Economic Methodology: Importance Of The Time Period (Short Run, Long Run, Very Long Run)
- 15.11Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Nature And Definition Of Factors Of Production: Land, Labour, Capital And Enterprise
- 15.12Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Difference Between Human Capital And Physical Capital
- 15.13Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Rewards To The Factors Of Production
- 15.14Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Division Of Labour And Specialisation
- 15.15Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Factors Of Production: Role Of The Entrepreneur In Contemporary Economies: Risk And Organisation Of The Other Factors Of Production
- 15.16Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Decision-making In Market, Planned And Mixed Economies
- 15.17Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Resource Allocation In Different Economic Systems: Resource Allocation In These Economic Systems
- 15.18Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Nature And Meaning Of A Production Possibility Curve (Ppc)
- 15.19Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Shape Of The Ppc: Constant And Increasing Opportunity Costs
- 15.20Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Causes And Consequences Of Shifts In A Ppc
- 15.21Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Production Possibility Curves: Significance Of A Position Within A Ppc
- 15.22Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Free Goods And Private Goods (Economic Goods)
- 15.23Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Public Goods
- 15.24Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Merit Goods: Under-consumption As A Result Of Imperfect Information In The Market
- 15.25Practice Questions: Basic Economic Ideas And Resource Allocation (As Level): Classification Of Goods And Services: Nature And Definition Of Demerit Goods: Over-consumption As A Result Of Imperfect Information In The Market
- 15.26Practice Questions: The Price System And The Microeconomy (As Level): Demand And Supply Curves: Effective Demand
- 15.27Practice Questions: The Price System And The Microeconomy (As Level): Demand And Supply Curves: Individual And Market Demand And Supply
- 15.28Practice Questions: The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Demand
- 15.29Practice Questions: The Price System And The Microeconomy (As Level): Demand And Supply Curves: Determinants Of Supply
- 15.30Practice Questions: The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Demand Curve (D)
- 15.31Practice Questions: The Price System And The Microeconomy (As Level): Demand And Supply Curves: Causes Of A Shift In The Supply Curve (S)
- 15.32Practice Questions: The Price System And The Microeconomy (As Level): Demand And Supply Curves: Distinction Between The Shift In The Demand Or Supply Curve And The Movement Along These Curves
- 15.33Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Definition Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand (Ped, Yed, Xed)
- 15.34Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Price Elasticity Of Demand
- 15.35Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Income Elasticity Of Demand
- 15.36Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of: Cross Elasticity Of Demand
- 15.37Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Descriptions Of Elasticity Values: Perfectly Elastic, (Highly) Elastic, Unitary Elasticity, (Highly) Inelastic, Perfectly Inelastic
- 15.38Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Variation In Price Elasticity Of Demand Along The Length Of A Straight-line Demand Curve
- 15.39Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Price Elasticity Of Demand
- 15.40Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Income Elasticity Of Demand
- 15.41Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Factors Affecting: Cross Elasticity Of Demand
- 15.42Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Relationship Between Price Elasticity Of Demand And Total Expenditure On A Product
- 15.43Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity, Income Elasticity And Cross Elasticity Of Demand: Implications For Decision-making Of Price Elasticity, Income Elasticity And Cross Elasticity Of Demand
- 15.44Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Definition Of Price Elasticity Of Supply (Pes)
- 15.45Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Formula For And Calculation Of Price Elasticity Of Supply
- 15.46Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Significance Of Relative Percentage Changes, The Size And Sign Of The Coefficient Of Price Elasticity Of Supply
- 15.47Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Factors Affecting Price Elasticity Of Supply
- 15.48Practice Questions: The Price System And The Microeconomy (As Level): Price Elasticity Of Supply: Implications For Speed And Ease With Which Firms React To Changed Market Conditions
- 15.49Practice Questions: The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Definition Of Market Equilibrium And Disequilibrium
- 15.50Practice Questions: The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Effects Of Shifts In Demand And Supply Curves On Equilibrium Price And Quantity
- 15.51Practice Questions: The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Demand (Complements)
- 15.52Practice Questions: The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Alternative Demand (Substitutes)
- 15.53Practice Questions: The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Derived Demand
- 15.54Practice Questions: The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Relationships Between Different Markets: Joint Supply
- 15.55Practice Questions: The Price System And The Microeconomy (As Level): The Interaction Of Demand And Supply: Functions Of Price In Resource Allocation; Rationing, Signalling (Transmission Of Preferences) And Incentivising
- 15.56Practice Questions: The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Consumer Surplus
- 15.57Practice Questions: The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Meaning And Significance Of Producer Surplus
- 15.58Practice Questions: The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Causes Of Changes In Consumer And Producer Surplus
- 15.59Practice Questions: The Price System And The Microeconomy (As Level): Consumer And Producer Surplus: Significance Of Price Elasticity Of Demand And Of Supply In Determining The Extent Of These Changes
- 15.60Practice Questions: Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Non-provision Of Public Goods
- 15.61Practice Questions: Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Addressing The Over-consumption Of Demerit Goods And The Under-consumption Of Merit Goods
- 15.62Practice Questions: Government Microeconomy Intervention (As Level): Reasons For Government Intervention In Markets: Controlling Prices In Markets
- 15.63Practice Questions: Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Specific Indirect Taxes
- 15.64Practice Questions: Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Impact And Incidence Of Subsidies
- 15.65Practice Questions: Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Direct Provision Of Goods And Services
- 15.66Practice Questions: Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Maximum And Minimum Prices
- 15.67Practice Questions: Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Buffer Stock Schemes
- 15.68Practice Questions: Government Microeconomy Intervention (As Level): Methods And Effects Of Government Intervention In Markets: Provision Of Information
- 15.69Practice Questions: Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Difference Between Income As A Flow Concept And Wealth As A Stock Concept
- 15.70Practice Questions: Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Measuring Income And Wealth Inequality: Gini Coefficient (Calculation Not Required)
- 15.71Practice Questions: Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Economic Reasons For Inequality Of Income And Wealth
- 15.72Practice Questions: Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Minimum Wage
- 15.73Practice Questions: Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Transfer Payments
- 15.74Practice Questions: Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: Progressive Income Taxes, Inheritance And Capital Taxes
- 15.75Practice Questions: Government Microeconomy Intervention (As Level): Addressing Income And Wealth Inequality: Policies To Redistribute Income And Wealth: State Provision Of Essential Goods And Services
- 15.76Practice Questions: The Macroeconomy (As Level): National Income Statistics: Meaning Of National Income
- 15.77Practice Questions: The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross Domestic Product (Gdp)
- 15.78Practice Questions: The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Gross National Income (Gni)
- 15.79Practice Questions: The Macroeconomy (As Level): National Income Statistics: Measurement Of National Income: Net National Income (Nni)
- 15.80Practice Questions: The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Market Prices To Basic Prices
- 15.81Practice Questions: The Macroeconomy (As Level): National Income Statistics: Adjustment Of Measures From Gross Values To Net Values
- 15.82Practice Questions: The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Circular Flow Of Income In A Closed Economy And An Open Economy: The Flow Of Income Between Households, Firms And Government And The International Economy
- 15.83Practice Questions: The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Injections And Leakages (Multiplier Not Required)
- 15.84Practice Questions: The Macroeconomy (As Level): Introduction To The Circular Flow Of Income: Equilibrium And Disequilibrium (Marginal And Average Propensities Not Required)
- 15.85Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Demand (Ad)
- 15.86Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Components Of Ad And Their Meanings: Ad = C + I + G + (X – M)
- 15.87Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of Ad (Detailed Knowledge Of The Components Of Ad Is Not Required)
- 15.88Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The Ad Curve (Downward Sloping)
- 15.89Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The Ad Curve
- 15.90Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Definition Of Aggregate Supply (As)
- 15.91Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Determinants Of As
- 15.92Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Shape Of The As Curve In The Short Run (Sras, Upward Sloping Line Or Sweeping Curve) And The Long Run (Lras, Either A Vertical Line Or In Three Sections – Highly Elastic, Upward Sloping, Vertical)
- 15.93Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Causes Of A Shift In The As Curve In The Short Run (Sras) And In The Long Run (Lras)
- 15.94Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Distinction Between A Movement Along And A Shift In Ad And As
- 15.95Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Establishment Of Equilibrium In The Ad/as Model And The Determination Of The Level Of Real Output, The Price Level And Employment
- 15.96Practice Questions: The Macroeconomy (As Level): Aggregate Demand And Aggregate Supply Analysis: Establishment Of Equilibrium In The Ad/as Model And The Determination Of The Level Of Real Output, The Price Level And Employment
- 15.97Practice Questions: The Macroeconomy (As Level): Economic Growth: Meaning Of Economic Growth
- 15.98Practice Questions: The Macroeconomy (As Level): Economic Growth: Measurement Of Economic Growth
- 15.99Practice Questions: The Macroeconomy (As Level): Economic Growth: Distinction Between Growth In Nominal Gdp And Real Gdp
- 15.100Practice Questions: The Macroeconomy (As Level): Economic Growth: Causes Of Economic Growth
- 15.101Practice Questions: The Macroeconomy (As Level): Economic Growth: Consequences Of Economic Growth
- 15.102Practice Questions: The Macroeconomy (As Level): Unemployment: Meaning Of Unemployment
- 15.103Practice Questions:The Macroeconomy (As Level): Unemployment: Measures Of Unemployment, With Reference To Possible Difficulties In Measurement
- 15.104Practice Questions: The Macroeconomy (As Level): Unemployment: Causes And Types Of Unemployment: Frictional, Structural, Cyclical, Seasonal And Technological
- 15.105Practice Questions: The Macroeconomy (As Level): Unemployment: Consequences Of Unemployment
- 15.106Practice Questions: The Macroeconomy (As Level): Price Stability: Definition Of Inflation, Deflation And Disinflation
- 15.107Practice Questions: The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Consumer Price Index (Cpi)
- 15.108Practice Questions: The Macroeconomy (As Level): Price Stability: Measurement Of Changes In The Price Level: Possible Difficulties In Measurement
- 15.109Practice Questions: The Macroeconomy (As Level): Price Stability: Distinction Between Money Values (Nominal) And Real Data
- 15.110Practice Questions: The Macroeconomy (As Level): Price Stability: Causes Of Inflation: Cost-push And Demand-pull Inflation
- 15.111Practice Questions: The Macroeconomy (As Level): Price Stability: Consequences Of Inflation
- 15.112Practice Questions: Government Macroeconomic Intervention: Government Macroeconomic Policy Objectives: Use Of Government Policy To Achieve Macroeconomic Objectives: Price Stability, Low Unemployment, Economic Growth (Policy Conflicts And Trade-offs Are Not Required)
- 15.113Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Meaning Of Government Budget
- 15.114Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Distinction Between A Government Budget Deficit And A Government Budget Surplus
- 15.115Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Meaning And Significance Of The National Debt
- 15.116Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Taxation: Types Of Taxes: Direct/indirect, Progressive/regressive/proportional
- 15.117Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Taxation: Rates Of Tax: Marginal And Average Rates Of Taxation (Mrt, Art)
- 15.118Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Taxation: Reasons For Taxation
- 15.119Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Types Of Spending: Capital (Investment) And Current
- 15.120Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Government Spending: Reasons For Government Spending
- 15.121Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Distinction Between Expansionary And Contractionary Fiscal Policy
- 15.122Practice Questions: Government Macroeconomic Intervention: Fiscal Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Fiscal Policy On The Equilibrium Level Of National Income And The Level Of Real Output, The Price Level And Employment
- 15.123Practice Questions: Government Macroeconomic Intervention: Monetary Policy: Definition Of Monetary Policy
- 15.124Practice Questions: Government Macroeconomic Intervention: Monetary Policy: Tools Of Monetary Policy: Interest Rates, Money Supply And Credit Regulations
- 15.125Practice Questions: Government Macroeconomic Intervention: Monetary Policy: Distinction Between Expansionary And Contractionary Monetary Policy
- 15.126Practice Questions: Government Macroeconomic Intervention: Monetary Policy: Ad/as Analysis Of The Impact Of Expansionary And Contractionary Monetary Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 15.127Practice Questions: Government Macroeconomic Intervention: Supply-side Policy: Meaning Of Supply-side Policy, In Terms Of Its Effect On Lras Curves
- 15.128Practice Questions: Government Macroeconomic Intervention: Supply-side Policy: Objectives Of Supply-side Policy: Increasing Productivity And Productive Capacity
- 15.129Practice Questions: Government Macroeconomic Intervention: Supply-side Policy: Tools Of Supply-side Policy, For Example Training, Infrastructure Development, Support For Technological Improvement
- 15.130Practice Questions: Government Macroeconomic Intervention: Supply-side Policy: Ad/as Analysis Of The Impact Of Supply-side Policy On The Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 15.131Practice Questions: International Economic Issues (As Level): The Reasons For International Trade: Distinction Between Absolute And Comparative Advantage
- 15.132Practice Questions: International Economic Issues (As Level): The Reasons For International Trade: Benefits Of Specialisation And Free Trade (Trade Liberalisation), Including The Trading Possibility Curve
- 15.133Practice Questions: International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Measurement Of The Terms Of Trade
- 15.134Practice Questions: International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Causes Of Changes In The Terms Of Trade
- 15.135Practice Questions: International Economic Issues (As Level): The Reasons For International Trade: Exports, Imports And The Terms Of Trade: Impact Of Changes In The Terms Of Trade
- 15.136Practice Questions: International Economic Issues (As Level): Limitations Of The Theories Of Absolute And Comparative Advantage
- 15.137Practice Questions: International Economic Issues (As Level): Protectionism: Meaning Of Protectionism In The Context Of International Trade
- 15.138Practice Questions: International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Tariffs
- 15.139Practice Questions: International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Import Quotas
- 15.140Practice Questions: International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Export Subsidies
- 15.141Practice Questions: International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Embargoes
- 15.142Practice Questions: International Economic Issues (As Level): Protectionism: Different Tools Of Protection And Their Impact: Excessive Administrative Burdens (‘red Tape’)
- 15.143Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments:Current Account: Trade In Goods, Trade In Services, Primary Income And Secondary Income
- 15.144Practice Questions: International Economic Issues (As Level): Protectionism: Arguments For And Against Protectionism
- 15.145Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Components Of The Current Account Of The Balance Of Payments: Definition Of Balance And Imbalances (Deficit And Surplus) In The Current Account Of The Balance Of Payments
- 15.146Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods
- 15.147Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Services
- 15.148Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Balance Of Trade In Goods And Services
- 15.149Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Calculation Of: Current Account Balance (Cab)
- 15.150Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Causes Of Imbalances In The Current Account Of The Balance Of Payments
- 15.151Practice Questions: International Economic Issues: Current Account Of The Balance Of Payments: Consequences Of Imbalances In The Current Account Of The Balance Of Payments For The Domestic And External Economy
- 15.152Practice Questions: International Economic Issues: Exchange Rates: Definition Of Exchange Rate
- 15.153Practice Questions: International Economic Issues: Exchange Rates: Determination Of A Floating Exchange Rate
- 15.154Practice Questions: International Economic Issues: Exchange Rates: Distinction Between Depreciation And Appreciation Of A Floating Exchange Rate
- 15.155Practice Questions: International Economic Issues: Exchange Rates: Causes Of Changes In A Floating Exchange Rate: Demand And Supply Of The Currency
- 15.156Practice Questions: International Economic Issues: Exchange Rates: Ad/as Analysis Of The Impact Of Exchange Rate Changes On The Domestic Economy’s Equilibrium National Income And The Level Of Real Output, The Price Level And Employment
- 15.157Practice Questions: International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Government Policy Objective Of Stability Of The Current Account
- 15.158Practice Questions: International Economic Issues: Policies To Correct Imbalances In The Current Account Of The Balance Of Payments: Effect Of Fiscal, Monetary, Supply-side And Protectionist Policies On The Current Account
- Mock Tests/ Mock ExamsMock Exams For Final Preparation0
- Class RecordingsClass Recordings From Previous Sessions/ Current Session For Content0
- Other MaterialOther Useful Material For Exams1
- Notes (Rearranged Version 2)Notes Arranged In A Different Style For Preparation Ease Version 26
- Notes + Written Material For Contents of The Syllabus Version 2Notes for Chapters + Written Resources Regarding The Content Version 229
- 20.1Scarcity, Choice And Opportunity Cost
- 20.2Economic Methodology
- 20.3Factors of Production
- 20.4Resource Allocation In Different Economic Systems
- 20.5Production Possibility Curves
- 20.6Classification of Goods And Services
- 20.7Demand And Supply Curves
- 20.8Price Elasticity, Income Elasticity And Cross Elasticity of Demand
- 20.9Price Elasticity of Supply
- 20.10The Interaction of Demand And Supply
- 20.11Consumer And Producer Surplus
- 20.12Reasons For Government Intervention In Markets
- 20.13Methods And Effects of Government Intervention In Markets
- 20.14Addressing Income And Wealth Inequality
- 20.15National Income Statistics
- 20.16Introduction To The Circular Flow of Income
- 20.17Aggregate Demand And Aggregate Supply Analysis
- 20.18Economic Growth
- 20.19Unemployment
- 20.20Price Stability
- 20.21Government Macroeconomic Policy Objectives
- 20.22Fiscal Policy
- 20.23Monetary Policy
- 20.24Supply-Side Policy
- 20.25The Reasons For International Trade
- 20.26Protectionism
- 20.27Current Account of The Balance of Payments
- 20.28Exchange Rates
- 20.29Policies To Correct Imbalances In The Current Account of The Balance of Payments
- Quizzes For Preparation Version 2Quizzes With Detailed Explained Answers And Common Mistakes Discussed In Detail29
- 21.1Scarcity, Choice And Opportunity Cost
- 21.2Economic Methodology
- 21.3Factors of Production
- 21.4Resource Allocation In Different Economic Systems
- 21.5Production Possibility Curves
- 21.6Classification of Goods And Services
- 21.7Demand And Supply Curves
- 21.8Price Elasticity, Income Elasticity And Cross Elasticity of Demand
- 21.9Price Elasticity of Supply
- 21.10The Interaction of Demand And Supply
- 21.11Consumer And Producer Surplus
- 21.12Reasons For Government Intervention In Markets
- 21.13Methods And Effects of Government Intervention In Markets
- 21.14Addressing Income And Wealth Inequality
- 21.15National Income Statistics
- 21.16Introduction To The Circular Flow of Income
- 21.17Aggregate Demand And Aggregate Supply Analysis
- 21.18Economic Growth
- 21.19Unemployment
- 21.20Price Stability
- 21.21Government Macroeconomic Policy Objectives
- 21.22Fiscal Policy
- 21.23Monetary Policy
- 21.24Supply-Side Policy
- 21.25The Reasons For International Trade
- 21.26Protectionism
- 21.27Current Account of The Balance of Payments
- 21.28Exchange Rates
- 21.29Policies To Correct Imbalances In The Current Account of The Balance of Payments
- Cheat Sheets Version 2Short, Quick Revision Cheat Sheets Version 229
- 22.1Scarcity, Choice And Opportunity Cost
- 22.2Economic Methodology
- 22.3Factors of Production
- 22.4Resource Allocation In Different Economic Systems
- 22.5Production Possibility Curves
- 22.6Classification of Goods And Services
- 22.7Demand And Supply Curves
- 22.8Price Elasticity, Income Elasticity And Cross Elasticity of Demand
- 22.9Price Elasticity of Supply
- 22.10The Interaction of Demand And Supply
- 22.11Consumer And Producer Surplus
- 22.12Reasons For Government Intervention In Markets
- 22.13Methods And Effects of Government Intervention In Markets
- 22.14Addressing Income And Wealth Inequality
- 22.15National Income Statistics
- 22.16Introduction To The Circular Flow of Income
- 22.17Aggregate Demand And Aggregate Supply Analysis
- 22.18Economic Growth
- 22.19Unemployment
- 22.20Price Stability
- 22.21Government Macroeconomic Policy Objectives
- 22.22Fiscal Policy
- 22.23Monetary Policy
- 22.24Supply-Side Policy
- 22.25The Reasons For International Trade
- 22.26Protectionism
- 22.27Current Account of The Balance of Payments
- 22.28Exchange Rates
- 22.29Policies To Correct Imbalances In The Current Account of The Balance of Payments
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