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Edexcel A-Level Economics (Year 1)

This class was created by Brainscape user Labis Gurung. Visit their profile to learn more about the creator.

By: Labis Gurung
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Decks in this class (10)

Theme 1 - Introduction to Markets and Market Failure (1.1 - The Nature of Economics)
Describe what is meant by the cet...,
Define a normative statement 1,
Define a positive statement 1 ref...
32  cards
Theme 1 - Introduction to Markets and Market Failure (1.2 - How Markets Work)
Describe the neo classical theory...,
What is meant by consumer utility...,
Which 4 groups of economic agents...
65  cards
Theme 1 - Introduction to Markets and Market Failure (1.3 - Market Failure)
What is market failure 1,
State 4 of the possible market fa...,
State and describe the 2 types of...
27  cards
Theme 1 - Introduction to Markets and Market Failure (1.4 - Government Intervention)
What is the purpose of government...,
State and describe 2 types of ind...,
How would taxation work to solve ...
46  cards
Theme 2 - The UK economy - Performance and Policies (2.1 - Economic Growth)
Define gdp 1 ref 211 economic growth,
Define national income 1 ref 221 ...,
What are the 3 main methods of ca...
57  cards
Theme 2 - The UK economy - Performance and Policies (2.2 - Aggregate Demand)
Define aggregate demand 1 ref 221...,
Describe what an aggregate demand...,
What is the main reason for the a...
29  cards
Theme 2 - The UK economy - Performance and Policies (2.3 - Aggregate Supply)
Ref 231 aggregate supply,
What are the 2 types of aggregate...,
Define short run aggregate supply...
14  cards
Theme 2 - The UK economy - Performance and Policies (2.4 - National Income)
Define the circular flow of incom...,
State 3 factors which can inject ...,
State 3 factors which can withdra...
16  cards
Theme 2 - The UK economy - Performance and Policies (2.5 - Economic Growth)
Define actual growth 1,
Define potential growth 1 ref 251...,
What is the main factor which can...
24  cards
Theme 2 - The UK economy - Performance and Policies (2.6 - Macroeconomic Objectives and Policies)
What is the purpose of a macroeco...,
What is the mnemonic used to repr...,
State 4 possible macroeconomic ob...
37  cards

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Edexcel A-Level Economics (Year 1)

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