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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.

CIE O-Level Economics (2281) Nov 2024

Laura Bellini

Classification: Paper 1

Page count: 12

Viewed: 41

Last update: 3 months ago

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Economics 2281/13 Oct Nov 2024 | Cambridge O-Level Past Papers With Mark Scheme

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