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Pearson Edexcel International GCSE Economics (4EC1)

1.1 The market system

1.1.1 The economic problem

1.1.2 Economic assumptions

1.1.3 Demand, supply and market equilibrium

1.1.4 Elasticity

1.1.5 The mixed economy

1.1.5.a Mixed economy

1.1.5.b Public and private sector

1.1.5.c Public and private sector ownership, control and aims

1.1.5.d What, how and for whom to produce in a mixed economy

1.1.5.e Market failure and inefficient resource allocation

1.1.5.f Why governments intervene in markets

1.1.5.g Public goods and the free-rider problem

1.1.5.h Public and private sector roles in production

1.1.5.i Relative importance of public and private sectors

1.1.5.j Privatisation

1.1.5.k Effects of privatisation on stakeholders

1.1.6 Externalities

1.2 Business economics

2.1 Government and the economy

2.2 The global economy

3 Quantitative skills

IGCSE/Edexcel/Economics//Concept/1.1 The market system/1.1.5 The mixed economy/1.1.5.e Market failure and inefficient resource allocation

1.1 The market system

Syllabus: 2026
Section: 1.1
Level: —

Exam analysis

Most tested topics

The economic problem
Economic assumptions
Demand, supply and market equilibrium
Elasticity
The mixed economy
Externalities