Using real events and relevant newspaper extracts, this text seeks to explain key concepts in economics. It includes summaries and "Makes you think!" sections to develop students' understanding and aid revision. It accounts for the new SCAA criteria for A Level economics.
Using real events and relevant newspaper extracts, this text seeks to explain key concepts in economics. It includes summaries and "Makes you think!" sections to help develop students' understanding and aid revision. All material has been trailed with A Level and first year undergraduate students. The text has been written in the light of new SCAA criteria for A Level economics and the new syllabuses. It should be useful for a modular approach to A Level, allowing students to gain an understanding of economics as part of a business course.
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Doing economics. Part 1 The market economy: scarcity and choice; specialization; demand; supply; price; elasticity; the factors of production; business - their costs, revenue and profit; economies of scale; business ownership; the aims of business; the benefits of competition; setting up and closing down. Part 2 When the market fails: public and merit goods; privatization in the UK; monopolies - good or bad?; the environment - are externalities a necessary evil?; when should governments intervene in markets?. Part 3 The national and international economy: demand, supply and the circular flow of income; inflation; unemployment; regional policy; economic growth; the balance of payments; international trade; exchange rates; the European Union; economic development.
Essential Economics by Adrian Lyons
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