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Economics 4EC1/01R November 2020

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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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