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Unit 3: Business Behaviour

3.3.1 - Types and sizes of businesses

3.3.2 - Revenue, costs and profits

3.3.3 - Market structures and contestability

3.3.4 - Labour markets

3.3.5 - Government intervention

Unit 4: Developments in the Global Economy

4.3.1 - Causes and effects of globalisation

4.3.2 - Trade and the global economy

4.3.3 - Balance of payments, exchange rates and international competitiveness

4.3.4 - Poverty and inequality

4.3.4.1a - distinction between absolute and relative poverty

4.3.4.1b - Measures of absolute and relative poverty

4.3.4.1c - Causes of changes in absolute and relative poverty: • economic growth • education and

4.3.4.2a - distinction between wealth inequality and income inequality

4.3.4.2b - Measurements of inequality: • the Lorenz curve • the Gini coefficient

4.3.4.2c - Causes of inequality in income and wealth within countries and between countries

4.3.4.2d - impact of inequality on: • enterprise • incentives • savings • education • migration •

4.3.4.2e - impact of economic change and development on inequality

4.3.4.2f - significance of the free market economy (capitalism) for inequality

4.3.5 - The role of the state in the macroeconomy

4.3.6 - Growth and development in developing, emerging and developed economies

A-Level Edexcel Economics A2 4.3.4.2a - distinction between wealth inequality and income inequality Topic Practice

4.3.4.2a - distinction between wealth inequality and income inequality

• The distinction between wealth inequality and income inequality.

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