PPT covering: Methods of measuring business size, e.g. number of people employed, value of output, capital employed (profit is not a method of measuring business size) Limitations of methods of measuring business size

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

3.3.1 Product: • The costs and benefits of developing new products • Brand image; impact on sales and customer loyalty • The role of packaging • The product life cycle: main stages and extension strategies; draw and interpret a product life cycle diagram • How stages of the product life cycle can influence marketing decisions, e.g. promotion and pricing decisions 3.3.2 Price: • Pricing methods (benefits and limitations of different methods), e.g. cost plus, competitive, penetration, skimming, and promotional • Recommend and justify an appropriate pricing method in given circumstances • Understand the significance of price elasticity: difference between price elastic demand and price inelastic demand; importance of the concept in pricing decisions (knowledge of the formula and calculations of PED will not be assessed *Unit 3 review sample questions and answers

3.3.3 Place – distribution channels: • Advantages and disadvantages of different channels, e.g. use of wholesalers, retailers or direct to consumers • Recommend and justify an appropriate distribution channel in given circumstances 3.3.4 Promotion: • The aims of promotion • Different forms of promotion and how they influence sales, e.g. advertising, sales promotion • The need for cost-effectiveness in spending the marketing budget on promotion 3.3.5 Technology and the marketing mix: • Define and explain the concept of e-commerce • The opportunities and threats of e-commerce to business and consumers • Use of the internet and social media networks for promotion *Unit 3 review sample questions and answers

The effect of having a high number of firms on price, quality, choice, profit. Characteristics, advantages and disadvantages of monopoly. *Unit 3 review Note: diagrams are not required. Note: the theory of perfect and imperfect competition and diagrams are not required Questions with suggested solutions

6.2.1 Environmental concerns and ethical issues as both opportunities and constraints for businesses: • How business activity can impact on the environment, e.g. global warming • The concept of externalities: possible external costs and external benefits of business decisions • Sustainable development; how business activity can contribute to this • How and why business might respond to environmental pressures and opportunities, e.g. pressure groups • The role of legal controls over business activity affecting the environment, e.g. pollution controls • Ethical issues a business might face: conflicts between profits and ethics • How business might react and respond to ethical issues, e.g. child labour “including questions and suggested answers”

Wage and non-wage factors. The influences of demand and supply, relative bargaining power and government policy, including minimum wage. How changes in demand and supply, relative bargaining strengths, discrimination and government policy can all influence differences in earnings between workers whether they are: skilled/unskilled; primary/secondary/tertiary; male/female; private sector/public sector. Definition, drawing and interpretation of diagrams that illustrate the effects of changes in demand and supply in the labour market. Advantages and disadvantages for workers, firms and the economy. Questions with suggested solutions

IGCSE Econ - 8 mark past paper questions and structured answers. 77 past paper questions (8 mark) across the syllabus with detailed answers providing clear “discuss…” points with evident evaluation. Ideal for revision purposes or end of chapter review.

Possible supply-side policy measures include education and training, labour market reforms, lower direct taxes, deregulation, improving incentives to work and invest, and privatisation. How supply-side policy measures may enable the government to achieve its macroeconomic aims. Review of Unit 4 Questions and suggested answers

Measurement of inflation and deflation using the Consumer Prices Index (CPI). Causes of inflation: demand-pull and cost-push. Causes of deflation: demand-side and supply-side. The consequences of inflation and deflation for consumers, workers, savers, lenders, firms and the economy as a whole. The range of policies available to control inflation and deflation and how effective they might be. Review of Unit 4 Questions and suggested answers

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.

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

2.3 Demand 2.4 Supply 2.5 Price determination 2.7 PED 2.8 PES 2.10 Market failure Question format

2.3.3 Why reducing the size of the workforce might be necessary: • Difference between dismissal and redundancy with examples • Understand situations in which downsizing the workforce might be necessary, e.g. automation or reduced demand for products • Recommend and justify which employees to make redundant in given circumstances 2.3.4 Legal controls over employment issues and their impact on employers and employees: • Legal controls over employment contracts, unfair dismissal, discrimination, health and safety, legal minimum wage

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

The forms, functions and characteristics of money. The role and importance of central banks and commercial banks for government, producers and consumers. Questions and suggested solutions

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