Economics
Conflicts – Macro-economic objectives (AS/A LEVELS/IB/IAL)
682
0
Conflicts – Macro-economic objectives Economic Growth & Inflation (1-3%) A rise in economic growth (GDP) could lead to a rise in demand pull inflation. This would only cause a problem if inflation increased above the government’s target rate of 1-3%. Economic Growth & Balance of Payments A rise in economic growth will lead to a […]
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Opportunity Cost (AS/A LEVELS/IB/IAL)
686
0
Opportunity cost is to do with making choices.
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Positive Economics (AS/A LEVELS/IB/IAL)
659
0
Positive economics is concerned with factual information.
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PPF Curves – Production Possibility Frontiers (AS/A LEVELS/IB/IAL)
9422
0
A production possibility frontier (PPF) shows the maximum potential output of two goods or services that can be produced when all resources are fully employed.
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Direct & Indirect Taxes (AS/A LEVELS/IB/IAL)
2397
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A tax is a compulsory charge on the price of goods and services.
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Normative Economics (AS/A LEVELS/IB/IAL)
628
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Normative economics is concerned with value-judgements and opinions.
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Factors of Production (AS/A LEVELS/IB/IAL)
616
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Factors of production (Capital, Enterprise, Labour, Land) are used to produce goods and services.
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