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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

1.1.4 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

1.2.2.a Productivity

1.2.2.b Factors affecting productivity

1.2.2.c Division of labour

1.2.2.d Division of labour: effects on workers and businesses

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/1.2 Business economics/1.2.2 Productivity and division of labour/1.2.2.d Division of labour: effects on workers and businesses

Edexcel IGCSE Economics 1.2.2.d advantages and disadvantages of division of labour

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