Economics IGSCE 9-1 Revision Notes for Edexcel

Economics Edexcel International IGCSE Revision
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Chapters included:

MICROECONOMICS:

The economic problem
Economic assumptions
The demand curve
Factors that may shift the demand curve
The supply curve
Factors that may shift supply curve
Market equilibrium
Price elasticity of demand
Price elasticity of supply
Income elasticity
The mixed economy
Privatisation
Externalities
The factors of production and sectors of the economy
Productivity and division of labour
Business costs, revenues and profit
Economies and diseconomies of scale
Competitive markets
Advantages of large and small firms
Monopoly
Oligopoly
Labour market
The impact of changes in the supply and demand for labour and trade union activity in labour markets
Government intervention

MACROECONOMICS:

Economic growth
Inflation
Unemployment
Balance of payments on the current account
Protecting the environment
Redistribution of income
Fiscal policy
Monetary policy
Supply side policies
Relationships between objectives and policies
Globalisation
Multinational companies (MNCs) and foreign direct investment
International trade
Protectionism
The world trade organization and world trade patterns
Exchange rates and their determination
Impact of changing exchange rates
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