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Full Description
Designed to increase confidence, help you recognise different question types and manage test anxiety. Questions provide practice opportunities to help you improve your ability to recall knowledge. Your familiarity with exam language will increase with a focus on command words, time management and marks breakdowns. This text has not been through the endorsement process for the Cambridge Pathway. Any references or materials related to answers, grades, papers or examinations are based on the opinion of the author(s). The Cambridge International Education syllabus or curriculum framework associated assessment guidance material and specimen papers should always be referred to for definitive guidance.
Contents
Contents; How to use this series v; How to use this series vii; Introduction x; Unit 1; The basic economic problem; 1 The nature of the basic economic problem; 2 Factors of production; 3 Opportunity cost; 4 Production possibility curve diagrams; Exam Practice 1; Unit 2; The allocation of resources; 5 The role of markets in allocating resources; 6 Demand; 7 Supply; 8 Price determination; 9 Price changes; 10 Price elasticity of demand (PED); 11 Price elasticity of supply (PES); 12 Market economic system; 13 Market failure; 14 Mixed economic system; Exam practice 2; Unit 3 Microeconomic decision makers; 15 Money and banking; 16 Households; 17 Workers; 18 Firms; 19 Firms and production; 20 Firms' costs, revenue and objectives; 21 Types of markets; Exam practice 3; Unit 4; Government and the macroeconomy; 22 Government macroeconomic intervention; 23 Fiscal policy; 24 Monetary policy; 25 Supply-side policy; 26 Economic growth; 27 Employment and unemployment; 28 Inflation; Exam practice 4; Unit 5; Economic development; 29 Living standards; 30 Poverty; 31 Population; 32 Differences in economic development between countries; Exam practice 5; Unit 6; International trade and globalisation; 33 Specialisation and free tradel; 34 Globalisation and trade restrictions; 35 Foreign exchange rates; 36 Current account of the balance of payments; Exam practice 6
