Economics Revision Questions | e-Consult
Economics 9708
Scarcity, choice and opportunity cost
Economic methodology
Factors of production
Resource allocation in different economic systems
Production possibility curves
Classification of goods and services
Demand and supply curves
Price elasticity, income elasticity and cross elasticity of demand
Price elasticity of supply
The interaction of demand and supply
Consumer and producer surplus
Reasons for government intervention in markets
Utility
Indifference curves and budget lines
Causes of a shift in the budget
Efficiency and market failure
Private costs and benefits, externalities and social costs and benefits
Types of cost, revenue and profit, short-run and long-run production
Different market structures
Growth and survival of firms
Differing objectives and policies of firms
Government policies to achieve efficient resource allocation and correct market failure
Equity and redistribution of income and wealth
Labour market forces and government intervention
The circular flow of income
Economic growth and sustainability
Employment/unemployment
Money and banking
Government macroeconomic policy objectives
Links between macroeconomic problems and their interrelatedness
Effectiveness of policy options to meet all macroeconomic objectives
Policies to correct disequilibrium in the balance of payments
Exchange rates
Economic development
Characteristics of countries at different levels of development
Relationship between countries at different levels of development
Globalisation