1. Normative and Positive Statements in Economics – Identification of economic statements as normative or positive using real-world policy examples.
2. Price Elasticity of Demand for Newspapers – Calculation of price elasticity based on sales data for the Daily Mail and factors influencing consumer demand.
3. Functions of the Price Mechanism in Markets – Analysis of how price signals guide dentists in providing private or NHS treatment.
4. Income Changes and Demand for Public Transport – Explanation of whether bus travel is a normal or inferior good based on household income shifts.
5. Consumer Surplus and Public Broadcasting – Assessment of how the BBC’s licence fee pricing affects consumer surplus in media consumption.
6. Government Intervention in Energy Markets – Evaluation of the microeconomic impact of maximum price controls on energy supply and demand.