Edexcel IGCSE Economics 1.2.1 A Factors of Production 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

1.1.4 Elasticity

1.1.5 The mixed economy

1.1.6 Externalities

1.2 Business economics

1.2.1 Production

1.2.1.a Factors of production

1.2.1.b Sectors of the economy

1.2.1.c C hanges in the importance of these sectors in terms of

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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