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Unit 1: Markets in Action

1.3.1 - Introductory concepts

1.3.2 - Consumer behaviour and demand

1.3.4 - Price determination

1.3.4.1a - Equilibrium price and quantity, and how they are determined. market

1.3.4.1b - Causes of changes in the equilibrium price and quantity as a equilibrium result of

1.3.4.1c - operation of market forces to eliminate excess demand and excess supply

1.3.4.2a - distinction between consumer and producer surplus. producer surplus

1.3.4.2b - changes in demand or supply might affect consumer and producer surplus

1.3.4.3a - rationing, incentive and signalling functions of the price price mechanism mechanism

1.3.4.3b - price mechanism in the context of different types of markets, including local, national

1.3.4.4a - impact of indirect taxes on consumers, producers and the subsidies government

1.3.4.4b - incidence of indirect taxes on consumers and producers

1.3.4.4c - impact of subsidies on consumers, producers and the government

1.3.4.4d - incidence of subsidies on consumers and producers

1.3.5 - Market failure

1.3.6 - Government intervention in markets

Unit 2: Macroeconomic Performance and Policy

2.3.1 - Measures of economic performance

2.3.2 - Aggregate demand (AD)

2.3.3 - Aggregate supply (AS)

2.3.4 - National income

2.3.5 - Economic growth

2.3.6 - Macroeconomic objectives and policies

A-Level Edexcel Economics AS 1.3.4.1c - operation of market forces to eliminate excess demand and excess supply Topic Practice

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