Economics

Assessing the potential of different Economies

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Factors influencing expansion into a market Ease of doing business The ease of doing business is influenced by several factors: government policies, political stability, corruption, and stability of the economy A firm is more likely to […]
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Assessing the potential of different Economies
Growing Economies

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Asia (India and China) There has been a rise of emerging markets such as India and China since WW2, leading to a change in the pattern of trade The manufacturing sector of the UK has declined […]
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Growing Economies
Efficiency and Competitiveness using Lean Production

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Quality Lean Production – keeping wastage to a minimal during the different stages of the production process, with the intention to reduce costs. It aims to meet customer demand and do things right the first time round to […]
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Efficiency and Competitiveness using Lean Production
Capacity Utilisation

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Full Capacity and Spare Capacity Capacity Utilisation = (actual level of output / maximum possible output) x 100 This refers to the extent to which companies are operating at the productive capacity and can therefore be […]
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Capacity Utilisation
Competing on Price

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes  Pricing Strategies Cost Plus This can be used when a retailer wants to find out the gross profit margin of a sale in advance Since retailers know the cost will be covered if they sell the good, […]
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Competing on Price
Competing on Price

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes  Pricing Strategies Cost Plus This can be used when a retailer wants to find out the gross profit margin of a sale in advance Since retailers know the cost will be covered if they sell the good, […]
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Competing on Price
Research & Development and Innovation

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Competitive Advantage through Innovation When a firm produces goods / services that are better than it’s competitors, it has comparative advantage A firm can use pricing techniques, quality, cost, or operate in a niche market to […]
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Research & Development and Innovation
Types / Sources of Credit and the impact of Credit within the Economy

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Types of Credit Loans This involves borrowing money which is then repaid at a later date with added interest payments Secured Loans – these are secured against the borrower’s assets to protect the bank’s funds if the […]
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Types / Sources of Credit and the impact of Credit within the Economy
Risk and Liability

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes The meaning of Risk Risk is the probability of damage or a loss occurring Banks lend capital to consumers / firms / other financial institutions, and therefore carry a risk – the risk of the capital […]
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Risk and Liability
Understanding the Consumer

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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes  Primary and Secondary market research data Primary Research This is carried out directly by conducting surveys, interviews, and observations By extracting data through primary research, it allows firms to explore exactly what they need to Data tends […]
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Understanding the Consumer

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