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Finding the least difficult questions in the database based on the percentage of students who got it correct. A high percentage indicates the question is quite easy. The questions are presented in order starting with the easiest. Some of these have come from the examiner comment. Note this only works for some questions since not all questions have ever been answered or mentioned in examiner comments. Some topic/keyword combinations will therefore yield zero results.

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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
HINT: Tag keyword first and a found topic may be added automatically.

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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
HINT: Tag keyword first and a found topic may be added automatically.

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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
HINT: Tag keyword first and a found topic may be added automatically.

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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
HINT: Tag keyword first and a found topic may be added automatically.

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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
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Keyword:	KEYWORD - -economic growth -protectionism aims of government economic policy aims of government policy analyse particular situations to show changes in total and average cost as output changes. analyse the different motives for spending saving and borrowing. analyse the problems and consequences of these population changes for countries at different stages of development. annual change in prices basic assumption of economic problem capital and labour intensive agriculture capital goods central banks and commercial banks centrally planned economy ceteris paribus commercial bank conserving resources versus using resources costs customs barriers define exchange rates. define opportunity cost and analyse particular circumstances to illustrate the concept. define price elasticity of demand and supply and perform simple calculations. define the factors of production land labour capital enterprise. define the nature of the economic problem finite resources and unlimited wants. define total and average cost fixed and variable cost and perform simple calculations. define total and average revenue and perform simple calculations. demand demand and supply demand curve demonstrate the principle of equilibrium price and analyse simple market situations with changes in demand and supply. demonstrate the usefulness of price elasticity in particular situations e.g. revenue changes consumer expenditure. describe and evaluate integration economies and diseconomies of scale. describe and evaluate the effects of changes in structure of business organisations. describe methods of protection. describe simple measures and indicators of comparative describe the aims of government policies e.g. full employment price stability economic growth redistribution of income balance of payments stability. describe the allocation of resources in market and mixed economic systems. describe the causes of changes in demand and supply conditions and analyse such changes to show effects in the market. describe the differences in earnings between different occupational groups male female skilled unskilled private public agricultural manufacturing services. describe the effects of changing size and structure of population on an economy. describe the factors that affect population growth birth rate death rate fertility rate net migration and discuss reasons for the different rates of growth in different countries. describe the functions of central banks stock exchanges commercial banks. describe the functions of money and the need for exchange. describe the government as a producer of goods and services and as an employer. describe the main reasons for the different sizes of firms size of market capital organisation. describe the principle of profit maximisation as a goal. describe the structure of the current account of the Balance of Payments. describe the type of business organisation in the public and private sectors: sole proprietors partnerships private companies public companies multinationals cooperatives public corporations. describe the types of taxation direct indirect progressive regressive proportional and the impact of taxation. describe trade unions and their role in an economy. describe what determines the demand for factors of production. developing country discuss differences in living standards within countries and between countries both developed and developing. discuss how and why different income groups have different expenditure patterns spending saving borrowing. discuss the advantages and disadvantages of monopoly. discuss the causes and consequences of exchange rate fluctuations. discuss the causes and consequences of unemployment. discuss the government�s influence regulation subsidies taxes on private producers. discuss the government’s influence regulation subsidies taxes on private producers. discuss the merits of free trade and protection. discuss the possible conflicts between government aims. diversification division of labour duplicate economic development economic potential economic problem economic resources economic systems economies of scale economy of scale environmental impact equilibrium point equilibrium price equilibrium quantity evaluate the implications of particular courses of action in terms of opportunity cost. external benefit external cost factors of production fixed cost free market economy fundamental economic question government revenue human resources impact of taxation income inequality inflation integration international trade KEYWORD2 labour market levels of employment living standards. For example GDP per head Human Development Index HDI. market economy market failure maximise profits mixed economy money monopoply motives for spending saving and borrowing normative opportunity cost output define Gross Domestic Product GDP. pay ped percentage of output positive statement possible policy conflicts price elasticity price quantity prices describe how the retail price index is calculated. private and social costs production possibility curve profit public and private goods public expenditure versus private expenditure public expenditure versus private expenditure. recognise and discuss policies to alleviate poverty. revenue role of government scarcity short and long run social benefit social cost specialisation stock exchange subsidies tariffs tax tertiary sector the economic problem trade balance trade union type of business organisation types and sizes of business organisation types of business types of business organizations types of economy value of output variable variable cost volume of imports workers working population	this is topic box
Topic:	TOPIC-1 Basic economic problem: choice and the allocation of resources2 The allocation of resources: how the market works market failure3 The individual as producer consumer and borrower4 The private firm as producer and employer5 Role of government in an economy6 Economic indicators7 Developed and developing economies8 International aspectsduplicateelasticityTOPIC	topic box
HINT: Tag keyword first and a found topic may be added automatically.