Economics
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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Entrepreneurial Motives
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Profit as an Incentive Entrepreneurs take risks to gain the reward of profit Entrepreneurs want to generate profit and avoid making a loss Entrepreneurs make a profit by bringing together the different factors of production Non-financial Motives […]
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Role of an Entrepreneur in an Economy
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes The process of Creative Destruction Creative destruction leads to the development of new goods / services through innovation and advanced technology Firms may be incentivised to enter the market if they see firms possessing monopoly power and […]
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Labour Market Factor Immobility
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Market Failure in the Labour Market Occupational Immobility – workers experience difficulty in moving from one job to another due to the lack of transferable skills they have Geographical Immobility – workers experience difficulty in moving from one […]
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Economic Agents
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Stakeholders Stakeholders are anyone who is interested in how a business is run Shareholder The share price and value of the dividend goes up as shareholders want the firm to make a large amount of profit […]
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Financial Regulation – OCR Spec
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Role in regulation of the Banking Industry Regulation helps to ensure the behaviour of banks is clear to institutions and those who conduct business with the bank It is important to regulate banks as they have […]
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Macroeconomic Indicators – OCR Spec
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Trends in the Macroeconomic Indicators over the last 20 years Economic Growth The UK has generally experienced economic growth throughout the last 20 years, however output fell during the Financial Crisis in 2008. In 2008 and […]
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Commericial Banks and Investment Banks – AQA Spec
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The difference between a Commercial Bank and Investment Bank Commercial Bank Manages deposits, cheques and saving accounts for different individuals / firms Using the money saved with them, they can make loans Investment Bank Facilitates the trade of investments such as bonds and stocks Investment banks tend to have a higher risk tolerance due to […]
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Uses of Index Numbers
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How are Index Numbers calculated and interpreted? Index Numbers allow comparisons to be made between different years and measure the magnitude of change over time A base year is used for comparison with other years and is therefore given the index number of 100 How do Index Numbers measure changes in the price level and changes in […]
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Public Ownership, Privatisation, Regulation and Deregulation of Markets – AQA Spec
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes The arguments for and against the Public Ownership of firms and industries Nationalisation – government gain control of an industry and the private sector assets are sold to the public sector E.g the railway network was nationalised in […]
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