1. Fundamental Economic Concepts | Scarcity, opportunity cost, factors of production, supply and demand analysis.
2. Market Mechanisms & Elasticity | Price elasticity of demand, equilibrium price, revenue changes due to supply shifts.
3. Macroeconomic Policies & Indicators | GDP, inflation, monetary policy, progressive taxation, economic growth effects.
4. Labour Market & Wages | Minimum wage policies, trade unions′ role, wage determination, employment incentives.
5. International Economics & Trade | Specialization, exchange rates, trade barriers, balance of payments, foreign investment effects.
6. Market Structures & Government Intervention | Competition, market failure, external benefits, government policies to regulate the economy.
Laura Bellini
Classification: Paper 1
Page count: 12
Viewed: 103
Last update: 6 months ago
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