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Economics 4EC1/01R November 2020

Economics 4EC1/01R November 2020

1. Market Structures and Costs: Identifying economic sectors, calculating total revenue, and understanding internal economies of scale.

2. Supply and Demand Dynamics: Impact of price changes on equilibrium, shifts in demand and supply curves, and effects of birth rate changes on markets.

3. Government Policies and Economic Effects: Role of taxation and subsidies, addressing negative externalities, and assessing public sector investment benefits.

4. Production and Costs: Calculation of fixed and variable costs, total cost analysis, and the impact of economies of scale on firms.

5. Labour Market and Business Decisions: Effects of retirement age changes, analysing business takeovers, and evaluating small firm advantages.

6. Market Failures and Interventions: Consequences of collusion, price-fixing cases, and effects of infrastructure investment on economic growth.

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Classification: Paper 1
Page count: 28
Viewed: 128
Last update: 7 months ago
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