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Economics 4EC1/01 January 2023 | Edexcel IGCSE Past Papers With Mark Scheme

1. Microeconomic Concepts and Productivity: Calculation of labor productivity, division of labor definition, factors of production, and public sector explanation.

2. Market Structures and Competition: Identification of oligopoly market, barriers to entry, impact of trade unions on wages, and reasons for business expansion or staying small.

3. Elasticity and Pricing: Price elasticity of demand calculation, impact of celebrity endorsements on demand, effect of income changes on transportation services, and market equilibrium shifts.

4. Government Policies and Economic Interventions: Rationale for providing flood defenses, impact of trade unions on business operations, disadvantages of government subsidies, and taxation policies.

5. Business Growth and Economies of Scale: Analysis of mergers, cost reductions through scale, impact on employment, and international business expansion strategies.

6. Trade and Fiscal Policy: Government spending on infrastructure, role of exchange rates, free trade advantages, and effects of fiscal policy on employment and inflation.
Edexcel International GCSE Economics (4EC1) Jan 2023

omer uner

Classification: Edexcel Paper 1
Page count: 24
Viewed: 40
Last update: 2 months ago
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