Edexcel IGCSE Economics 1.1.2 A Underlying Assumptions That Topic Practice

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Pearson Edexcel International GCSE Economics

1.1 The market system

1.1.1 The economic problem

1.1.2 Economic assumptions

1.1.2.a Underlying assumptions that

1.1.2.b Reasons why consumers may not maximise their benefit

1.1.2.c Reasons why producers may not maximise their profit

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

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