51ºÚÁÏ

Revision resources for each part of the specification
Retrieval grids
Knowledge organisers
Thinking hard grids
Revision sheets

3.1.1.1 Economic activity
3.1.1.2 The factors of production
3.1.1.3 Making choices
3.1.2.1 Markets and allocation of resources
3.1.2.2 Economic sectors
3.1.2.3 Specialisation, division of labour, and exchange
3.1.3.1 Demand for goods and services
3.1.3.2 Supply for goods and services
3.1.3.3 Equilibrium price
3.1.3.4 Intermarket relationships
3.1.3.5 Price elasticity of demand
3.1.3.6 Price elasticity of supply
3.1.4.1 The importance of cost, revenue and profit for producers
3.1.4.2 Production and productivity
3.1.4.3 Economies of scale
3.1.5.1 The importance of market structures on producers and consumers
3.1.5.2 Competitive markets
3.1.5.3 Non-competitive markets
3.1.5.4 The labour market
3.1.6.1 Misallocation of resources
3.1.6.2 Externalities
3.2.1.1 Interest rates, saving, borrowing, spending and investment
3.2.1.2 Government income and expenditure
3.2.2.1 Economic objectives of the government
3.2.2.2 Economic growth
3.2.2.3 Employment and unemployment
3.2.2.4 Inflation and price stability
3.2.2.5 Balance of payments
3.2.2.6 Distribution of income
3.2.3.1 Fiscal policy
3.2.3.2 Monetary policy
3.2.3.3 Supply-side policies
3.2.3.4 Policies to correct positive and negative externalities
3.2.4.1 Why countries trade and the importance of international trade to the UK
3.2.4.2 Exchange rates
3.2.4.3 Free-trade agreements including the European Union
3.2.4.4 Globalisation: benefits and drawbacks
3.2.5.1 The role of money
3.2.5.2 The role and importance of the financial sector for the economy