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Pearson Edexcel International GCSE Economics (4EC1)

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 Movements and shifts on demand curves

1.1.3.c Factors that shift demand

1.1.3.e Movements and shifts on supply curves

1.1.3.f Factors that shift supply

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

1.1.3.h Market equilibrium, excess demand and excess supply diagrams

1.1.3.i Calculating and drawing excess demand and excess supply

1.1.3.j Market forces removing excess demand or supply

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/1.1.3 Demand, supply and market equilibrium/1.1.3.j Market forces removing excess demand or supply

Edexcel IGCSE Economics 1.1.3.j market forces removing excess demand or supply

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