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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

1.2.3 Business costs, revenues and profit

1.2.4 Business competition

1.2.4.a Advantages and disadvantages of competition to firms,

1.2.4.b Advantages and disadvantages of large firms and small

1.2.4.c Factors influencing the growth of firms

1.2.4.d Reasons firms stay small

1.2.4.e Monopoly

1.2.4.f Main features of monopoly

1.2.4.g Advantages and disadvantages of monopoly

1.2.4.h Oligopoly

1.2.4.i Main features of oligopoly

1.2.4.j Advantages and disadvantages of oligopoly

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

IGCSE Economics 1.2.4.d Reasons firms stay small Topic Practice

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