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A Level
Economics
AQA
Revision Notes
The National & International Economy
10. How the Macroeconomy Works
Determinants of Long-run Aggregate Supply
Determinants of Long-run Aggregate Supply
(AQA A Level Economics)
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Individuals, Firms, Markets & Market Failure
1. Economic Methodology & the Economic Problem
Economic Methodology
Economic Activity
Economic Resources
Scarcity, Choice & the Allocation of Resources
Production Possibility Diagrams
2. Individual Economic Decision Making
Consumer Behaviour
Imperfect Information
Behavioural Economics
Using Behavioural Economics
3. Price Determination in Competitive Markets
Demand Curves
Demand Curves: Real World Analysis
Supply Curves
Supply Curves: Real World Analysis
The Determination of Market Equilibrium
Analysing Changes to Market Equilibrium
Price Elasticity of Demand (PED)
Income & Cross Elasticities of Demand
Price Elasticity of Supply (PES)
Interrelationships Between Markets
4. Production, Costs & Revenue
Production & Productivity
Specialisation & Division of Labour
Diminishing Returns & Returns to Scale
Costs of Production
Explaining the Shapes of the Cost Curves
Economies & Diseconomies of Scale
Short-run & Long-run Relationships
Marginal, Average &Total Revenue
Profit
Technological Change
5. Perfect & Imperfectly Competitive Markets & Monopolies
Market Structures
The Objectives of Firms
Perfect Competition
Monopolistic Competition
Oligopoly
Oligopoly: Price & Non-Price Competition
Monopoly & Monopoly Power
Price Discrimination
Competition & Competitive Market Processes
Contestable & Non-contestable Markets
Market Structure, Efficiency & Resource Allocation
Consumer & Producer Surplus
6. The Labour Market
Factors Influencing the Demand for Labour
Factors Influencing the Supply of Labour
Determining Wage Rates: Competitive Labour Markets
Determining Wage Rates: Imperfectly Competitive Labour Markets
The Influence of Trade Unions on Wages & Employment
The National Minimum Wage (NMW)
Discrimination in the Labour Market
7. Income & Wealth Distribution
Income & Wealth Distribution
The Lorenz Curve & Gini Coefficient
The Problem of Poverty
Government Policies to Reduce Poverty & Inequity
8. The Market Mechanism, Market Failure & Government Intervention
The Market (Price) Mechanism
An Introduction to Market Failure
Market Failure: Public, Private & Quasi Public Goods
Market Failure: Negative Externalities
Market Failure: Positive Externalities
Market Failure: Tragedy of the Commons
Market Failure: Merit & Demerit Goods
Market Failure: Market Imperfections
Government Intervention: An Introduction
Government Intervention: Indirect Taxation & Subsidies
Government Intervention: Price Controls
Government Intervention: Competition Policy
Government Intervention: Public Ownership Versus Privatisation
Government Intervention: Regulation & Deregulation
Government Intervention: Other Methods
Government Failure
The National & International Economy
9. Measuring Macroeconomic Performance
Government Macroeconomic Objectives
Macroeconomic Objectives: Conflicts & Changes
Macroeconomic Indicators
Using Index Numbers
Using National Income Data
10. How the Macroeconomy Works
The Circular Flow of Income
Injections & Withdrawals into the Circular Flow
Aggregate Demand (AD)
Short-run Aggregate Supply (SRAS)
Long-run Aggregate Supply (LRAS)
Macroeconomic Equilibrium
The Determinants of Aggregate Demand
The Multiplier & Basic Accelerator Process
Determinants of Long-run Aggregate Supply
11. Economic Performance
Economic Growth
The Impact of Economic Growth
The Economic Cycle
Employment & Unemployment
Price Level: Inflation
Price Level: Deflation
Price Level: Global Influences
Conflicts Between the Macroeconomic Objectives
12. Financial Markets & Monetary Policy
Financial Markets
Financial Assets
Commercial & Investment Banks
Central Banks & Monetary Policy
Monetary Policy Transmission Mechanisms
Regulating the Financial System
13. Fiscal & Supply-side Policies
Fiscal Policy: An Introduction
Fiscal Policy: Types of Public Expenditure & Taxation
Fiscal Policy: Budget Balances & National Debt
An Introduction to Supply-side Policies
Types of Supply-side Policies
14. The International Economy
Globalisation
International Trade
The Benefits & Costs of Trade
Protectionist Policies: An Introduction
Protectionist Policies: Tariffs
Protectionist Policies: Quotas & Export Subsidies
Types of Economic Integration
The Balance of Payments
Correcting Balance of Payment Deficits & Surpluses
Floating Exchange Rate Systems
Fixed Exchange Rate Systems
Currency Unions
Economic Growth & Development
Factors that Affect Growth & Development
Policies to Promote Growth & Development
More Exam Questions you might like
How the Macroeconomy Works
Economic Performance
Financial Markets & Monetary Policy
Fiscal & Supply-side Policies
The International Economy
Economic Methodology & the Economic Problem
Individual Economic Decision Making
Price Determination in Competitive Markets
Production, Costs & Revenue
Perfect & Imperfectly Competitive Markets & Monopolies