GCSE Economics Unit 2 - Complete Unit Pack + Answer Pack (Exam based)

This Unit 2 pack has been developed based on over ten years of teaching experience and is designed to help students thoroughly engage with the content and structure of the IGCSE Economics syllabus. It reflects a deep understanding of what is required to excel in the CIE (Cambridge International Examinations) assessments. A great deal of effort has gone into ensuring that the material not only aligns with CIE standards but also provides students with a clear, structured way to practice and review key concepts.

Contents of the Pack:
This Unit 2 pack covers The Allocation of Resource" as per the IGCSE Economics syllabus, including key topics such as:

• Economic Systems: Different types of economic systems (market, mixed, and planned) and their characteristics.
• The Price Mechanism: How supply and demand interact to allocate resources in a market economy, including equilibrium, shortages, and surpluses.
• Price Elasticity of Demand and Supply (PED and PES): Understanding how prices react to changes in demand and supply, with a focus on elasticity.
• Market Failure: Identifying instances where the market fails to allocate resources efficiently, including externalities, public goods, and the role of government intervention.
• Government Intervention: Understanding how and why governments intervene in markets through taxes, subsidies, price controls, and regulations to correct market failures.
• Structure:
• Student Workbook: This version of the pack is designed for students to complete. It contains a variety of questions tailored to different mark schemes (2, 4, 6, and 8 marks), which reflect the exam-style questions used by CIE. It includes spaces for students to write their answers, helping them practice exam technique while reinforcing the key concepts taught in Unit 2.

Answer Guide: The review version includes detailed, model answers for all the questions, enabling students to self-assess their performance. The answers follow the CIE standards for clarity, depth, and structure, ensuring that students understand not just the right answers, but how to articulate them effectively in an exam setting. This guide helps students refine their answers and better understand the expectations of examiners.