Edexcel IGCSE Economics 1.1.3 G Equilibrium Price and Quantity and How They Are Determined 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

1.1.3 Demand, supply and market equilibrium

1.1.3.b Use of demand curve diagram to show

1.1.3.c Factors that may cause a shift in the demand curve,

1.1.3.e Use of supply curve diagram to show

1.1.3.f Factors that may cause a shift in the supply curve,

1.1.3.g Equilibrium price and quantity and how they are determined

1.1.3.h Use of diagrams to show

1.1.3.i Define, calculate and draw excess demand and excess supply

1.1.3.j Use of market forces to remove excess supply or excess

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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