Definitions, drawing and interpretation of appropriate diagrams showing the effects of three government microeconomic policy measures: maximum and minimum prices in product, labour and foreign exchange markets; indirect taxation; and subsidies. Definition only of government microeconomic policy measures: regulation; privatisation and nationalisation and direct provision of goods. The effectiveness of government intervention in overcoming the drawbacks of a market economic system. Questions and suggested solutions

The key terms associated with market failure: public good, merit good, demerit good, social benefits, external benefits, private benefits, social costs, external costs, private costs. With respect to public goods, merit and demerit goods, external costs and external benefits, abuse of monopoly power and factor immobility. Examples of market failure with respect to these areas only. The implications of misallocation of resources in respect of the over consumption of demerit goods and goods with external costs, and the under consumption of merit goods and goods with external benefits. Note: demand and supply diagrams relating to market failure are not required. Market failure review - PPT Supply and demand review - PPT Questions and suggested solutions doc

Including the roles of the private sector (firms and consumers) and the public sector (government) in a market economy. Including examples of how it works in a variety of different countries. Questions and suggested solutions

Calculation of PES using the formula and interpreting the significance of the result. Drawing and interpretation of supply curve diagrams to show different PES. The key influences on whether supply is elastic or inelastic. The implications for decision making by consumers, producers and government. Supply and demand review doc Questions and suggested solutions

Calculation of PED using the formula and interpreting the significance of the result. Drawing and interpretation of demand curve diagrams to show different PED. The key influences on whether demand is elastic or inelastic. The relationship between PED and total spending on a product/revenue, both in a diagram and as a calculation. The implications for decision making by consumers, producers and government. Supply and demand review doc Questions and suggested solutions

Changing market conditions as causes of price changes. Demand and supply diagrams to be used to illustrate these changes in market conditions and their consequences for equilibrium price and sales.

Definition, drawing and interpretation of demand and supply schedules and curves used to establish equilibrium price and sales in a market. Definition, drawing and interpretation of demand and supply schedules and curves used to identify disequilibrium prices and shortages (demand exceeding supply) and surpluses (supply exceeding demand). Supply and demand review doc Questions and suggested solutions

Definition, drawing and interpretation of appropriate diagrams. A supply curve to be drawn and used to illustrate movements along a supply curve with appropriate terminology, for example extensions and contractions in supply. The link between individual and market supply in terms of aggregation. The causes of shifts in a supply curve with appropriate terminology, for example increase and decrease in supply. Supply and demand review doc Questions and suggested solutions

Definition, drawing and interpretation of appropriate diagrams. A demand curve to be drawn and used to illustrate movements along a demand curve with appropriate terminology, for example extensions and contractions in demand. The link between individual and market demand in terms of aggregation. The causes of shifts in a demand curve with appropriate terminology, for example increase and decrease in demand Supply and demand review doc Questions and suggested solutions

How a market system works; including buyers, sellers, allocation of scarce resources, market equilibrium, and market disequilibrium. Establishing that the economic problem creates three key questions about determining resource allocation What, how, and for whom to produce? How the price mechanism provides answers to these key allocation questions. Questions and suggested solutions

The difference between microeconomics and macroeconomics and the decision makers involved in each.

Definition of PPC points under, on and beyond a PPC movements along a PPC shifts of a PPC Questions and proposed solutions

**Definition of opportunity cost The influence of opportunity cost on decision making** Questions and proposed solutions

Definitions of the factors of production and their rewards Mobility of the factors of production Quantity and quality of the factors of production Questions and proposed solutions

Covering the objectives of the syllabus Finite resources and unlimited wants Economic and free goods Questions and proposed solutions

I have broken the CIE Econs A2 past paper questions into seven categories for easy access - Efficiency, Market structure, Marginal utility, Labour Market, Circular flow of income, Economic development and Government policies. This is taken from the years 2017 - March 2020

PPT aligned to the CIE syllabus. Summative and formative assessments provided with suggested solutions. Topics covered included free-market economy, centrally planned economy, mixed economy, laissez-faire, consumer surplus, marginal consumer, marginal social benefit (MSB), price signal. producer surplus, marginal cost, barriers to entry etc

PPT aligned to the CIE syllabus. Summative and formative assessments provided with suggested solutions. Topics covered included income elasticity of demand (YED), cross-price elasticity of demand (XED), price elasticity of supply (PES)

PPT aligned to the CIE syllabus. Summative and formative assessments provided with suggested solutions. Topics covered included elasticity, price elasticity of demand (PED), perfectly elastic demand, perfectly inelastic demand, unitary demand etc