Economics (8136) AQA Topic Questions

3.1 How markets work

3.1.1 Economic foundations Economic activity The factors of production Making choices

3.1.3 How prices are determined Demand for goods and services Supply for goods and services Equilibrium price Intermarket relationships Price elasticity of demand Price elasticity of supply

3.1.5 Competitive and concentrated markets The importance of market structures on producers and consumers Competitive markets Non-competitive markets The labour market

3.1.2 Resource allocation Markets and allocation of resources Economic sectors Specialisation, division of labour, and exchange

2.4 The marketing mix

3.1.4 Production, costs, revenue and profit The importance of cost, revenue and profit for producers Production and productivity Economies of scale

3.1.6 Market failure Misallocation of resources Externalities

3.2 How the economy works

3.2.1 Introduction to the national economy Interest rates, saving, borrowing, spending and investment Government income and expenditure

3.2.3 How the government manages the economy Fiscal policy Monetary policy Supply-side policies Policies to correct positive and negative externalities

3.2.5 The role of money and financial markets The role of money The role and importance of the financial sector for the economy Non-competitive markets The labour market

3.2.2 Government objectives Economic objectives of the government Economic growth Employment and unemployment Inflation and price stability Balance of payments Distribution of income

3.2.4 International trade and the global economy Why countries trade and the importance of international trade to the UK Exchange rates Free-trade agreements including the European Union Globalisation: benefits and drawbacks

3.1.6 Market failure Misallocation of resources Externalities