Introduction Section 1. The basic economic problem 1. The nature of the economic problem 2. Factors of production 3. Opportunity cost 4. Production possibility curves Exam-style structured questions for Section 1 Section 2. The allocation of resources 5. Microeconomics and macroeconomics 6. The role of markets in allocating resources 7. Demand 8. Supply 9. Price determination 10. Causes of price changes 11. Price elasticity of demand 12. Price elasticity of supply 13. Market economic system 14. Market failure 15. Mixed economic system Exam-style structured questions for Section 2 Section 3. Microeconomic decision makers 16. Money and banking 17. Households 18. Workers 19. Trade unions 20. Firms 21. Firms and production 22. Firms' costs, revenue and objectives 23. Market structure Exam-style structured questions for Section 3 Section 4. Government and the macroeconomy 24. The role of government 25. The macroeconomic aims of government 26. Fiscal policy 27. Monetary policy 28. Supply-side policy 29. Economic growth 30. Employment and unemployment 31. Inflation and deflation Exam-style structured questions for Section 4 Section 5. Economic development 32. Living standards 33. Poverty 34. Population 35. Differences in economic development between countries Exam-style structured questions for Section 5 Section 6. International trade and globalisation 36. International specialisation 37. Free trade and protection 38. Foreign exchange rates 39. Current account of balance of payments Exam-style structured questions for Section 6 Suggested Answers Glossary.
Introduction Section 1. The basic economic problem 1. The nature of the economic problem 2. Factors of production 3. Opportunity cost 4. Production possibility curves Exam-style structured questions for Section 1 Section 2. The allocation of resources 5. Microeconomics and macroeconomics 6. The role of markets in allocating resources 7. Demand 8. Supply 9. Price determination 10. Causes of price changes 11. Price elasticity of demand 12. Price elasticity of supply 13. Market economic system 14. Market failure 15. Mixed economic system Exam-style structured questions for Section 2 Section 3. Microeconomic decision makers 16. Money and banking 17. Households 18. Workers 19. Trade unions 20. Firms 21. Firms and production 22. Firms' costs, revenue and objectives 23. Market structure Exam-style structured questions for Section 3 Section 4. Government and the macroeconomy 24. The role of government 25. The macroeconomic aims of government 26. Fiscal policy 27. Monetary policy 28. Supply-side policy 29. Economic growth 30. Employment and unemployment 31. Inflation and deflation Exam-style structured questions for Section 4 Section 5. Economic development 32. Living standards 33. Poverty 34. Population 35. Differences in economic development between countries Exam-style structured questions for Section 5 Section 6. International trade and globalisation 36. International specialisation 37. Free trade and protection 38. Foreign exchange rates 39. Current account of balance of payments Exam-style structured questions for Section 6 Suggested Answers Glossary.
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