Revision Notes
Limit Pricing (AS/A LEVELS/IB/IAL)
1632
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Theme 3
This pricing strategy is used by firms to discourage new entrants.
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Macro-economic Objectives (AS/A LEVELS/IB/IAL)
2573
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The government of the day has key objectives it tries to achieve when in power.
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Conflicts – Macro-economic objectives (AS/A LEVELS/IB/IAL)
3127
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes 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 […]
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Opportunity Cost (AS/A LEVELS/IB/IAL)
2185
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Opportunity cost is to do with making choices.
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Positive Economics (AS/A LEVELS/IB/IAL)
2080
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Positive economics is concerned with factual information.
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PPF Curves – Production Possibility Frontiers (AS/A LEVELS/IB/IAL)
33308
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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)
7622
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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)
2021
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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)
2776
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Factors of production (Capital, Enterprise, Labour, Land) are used to produce goods and services.
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