Price system and Microeconomy
Topics covered in this Unit
All candidates study these AS Level topics
- Demand and supply curves
- Price elasticity, income elasticity and cross-elasticities of demand
- Price elasticity of supply
- Interaction of demand and supply
- Market equilibrium and disequilibrium
- Consumer and producer surplus
A Level candidates also study these additional topics
- Law of diminishing marginal utility
- Indifference curves
- Budget lines
- Types of cost, revenue and profit, short-run and long-run production
- Different market structures
- Growth and survival of firms
- Differing objectives of a firm
Revision Notes
Article Count:
30
Interactive quizzes
Article Count:
6