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Pearson Edexcel International GCSE Economics (4EC1)

1.1 The market system

1.1.1 The economic problem

1.1.1.a Scarcity, finite resources and choice

1.1.1.b Opportunity cost and its effect on economic agents

1.1.1.c Production possibility curve diagrams

1.1.1.d Interpreting production possibility curves

1.1.1.e Causes of positive and negative economic growth

1.1.2 Economic assumptions

1.1.3 Demand, supply and market equilibrium

1.1.4 Elasticity

1.1.5 The mixed economy

1.1.6 Externalities

1.2 Business economics

1.2.1 Production

1.2.2 Productivity and division of labour

1.2.3 Business costs, revenues and profit

1.2.4 Business competition

1.2.5 The labour market

1.2.6 Government intervention

2.1 Government and the economy

2.1.1 Macroeconomic objectives

2.1.2 Government policies

2.1.3 Relationships between objectives and policies

2.2 The global economy

2.2.1 Globalisation

2.2.2 International trade

2.2.3 Exchange rates

3 Quantitative skills

Graph construction

Quantitative interpretation and decision-making

Question Bank/IGCSE Edexcel Economics/1.1 The market system/1.1.1 The economic problem/1.1.1.d Interpreting production possibility curves

Edexcel IGCSE Economics 1.1.1.d PPC interpretation

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