Theme 1 – Introduction to Markets and Market Failure

This theme is included in AS Paper 1 and A Level Paper 1 and Paper 3 for Edexcel Economics (A).

Notes:

Flashcards
Glossary of Key Words
Exam Technique – A-level
Exam Technique – AS-level
Exam Technique – Essay Skills

Summary Notes

1.1. Nature of Economics
1.2. How Markets Work
1.3. Market Failure
1.4. Government Intervention

Detailed Notes

1.1. Nature of Economics
1.2. How Markets Work
1.3. Market Failure
1.4. Government Intervention

Example Answers

A-level – Business Objectives
A-level – Paper 1 June 2017
A-level – Paper 1 Specimen
A-level – Reduction in Excise Duty
A-level – Tradable Pollution Permits
AS-level – Electric Cars Tax
AS-level – Paper 1 June 2016
AS-level – Paper 1 June 2017
AS-level – Paper 1 Specimen

Videos:

1.1 Nature of Economics

A General Introduction to Economics
PPF and Opportunity Cost
Market and Planned Economies
Specialisation
Division of Labour
Functions of money

1.2 How Markets Work

Price Elasticity of Supply
Price Elasticity of Demand