The paper focuses on economic principles and practical issues, combining microeconomic and macroeconomic themes. Section A examines labor markets, economic growth, income distribution, elasticity, market structures, taxation, and externalities. Key topics include the circular flow of income, customs unions, monetary policy, public goods, and economic efficiency. Section B evaluates UK living standards and inequality post-financial crisis, exploring wage policies, global economic slowdowns, and government interventions. Themes such as fiscal policy, subsidies, productivity, and labor market dynamics are emphasized. The paper integrates theoretical analysis and real-world applications, encouraging critical evaluation of policy decisions and economic phenomena.