Economics A Pearson Microeconomic course checklist (Theme 2 & Theme 4)

This is a course checklist for Microeconomics (A) Theme 2 & Theme 4 Pearson Edexcel.

Questions to check for understanding broken down by topic. The aim of this resource is to help students check their knowledge for each topic and to support students identify gaps.

Sample:

2.1.1 Economic Growth
• Can you define GDP? (there are three ways)
• Can you recognise a recession and a boom from a graph of real GDP data?
• Can you identify the difference between levels of GDP and rates of change of GDP from a graph?
• Can you define real/nominal/current prices/constant prices?
• Can you calculate real data from nominal data and vice versa?
• Can you calculate total GDP from per capita GDP and vice versa?
• Can you explain the difference between GNI and GDP?
• Can you explain why GDP rates in different countries are different?
• Can you explain what PPP adjusted data is?
• Can you explain how PPP adjusted data might differ from GDP data in USD?
• Can you explain how GDP data might not be an accurate measure of standards of living
• Can you explain the link between rising/falling incomes and subjective happiness using economics terminology?