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1.1.3 The economic problem
The main economic problem, types of resoruces - renewable and non renewable, opportunity cost, factors of production
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- Summary
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The main economic problem, types of resoruces - renewable and non renewable, opportunity cost, factors of production
1.1 Nature of Economics Package - Edexcel Economics A
1.1 Nature of Economics Package - Edexcel Economics A 1.1.1 -Economics as a social science 1.1.2 Positive and normative economic statements 1.1.3 The economic problem 1.1.4 Production possibility frontiers 1.1.5 Specialisation and the division of labour 1.1.6 Free market economies, mixed economy and command economy
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- • 6 items •
- 1.1.1 Economics as a social science • Summary
- 1.1.2 Positive and normative economic statements • Summary
- 1.1.3 The economic problem • Summary
- 1.1.4 Production possibility frontiers • Summary
- 1.1.5 Specialisation and the Division of labour - Edexcel economics notes • Summary
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1.1 Nature of Economics Package - Edexcel Economics A 1.1.1 -Economics as a social science 1.1.2 Positive and normative economic statements 1.1.3 The economic problem 1.1.4 Production possibility frontiers 1.1.5 Specialisation and the division of labour 1.1.6 Free market economies, mixed economy and command economy
1.1.6 Free Market economies, Mixed Economy and command economy. Marx, Smith and Hayek
Free Market Economy - what it is, advantages and disadvatages, Command Economy - what it is, advatages and disadvantages Mixed Economy - what it is, advatages and disadvantages Economic systems Karl Marx and his beliefes Adam Smith and his beliefes Friedrich Hayek and his beliefes
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- Summary
- • 2 pages •
Free Market Economy - what it is, advantages and disadvatages, Command Economy - what it is, advatages and disadvantages Mixed Economy - what it is, advatages and disadvantages Economic systems Karl Marx and his beliefes Adam Smith and his beliefes Friedrich Hayek and his beliefes
1.1.5 Specialisation and the Division of labour - Edexcel economics notes
Specialisation, Division of Labour, Advantages and disadvantages of division of labour both for the employer and the employee. Characteristics of money Functions of money: Medium of exchange, Measure of value, Store of value, Method of deferred payment Forms of money
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- Summary
- • 2 pages •
Specialisation, Division of Labour, Advantages and disadvantages of division of labour both for the employer and the employee. Characteristics of money Functions of money: Medium of exchange, Measure of value, Store of value, Method of deferred payment Forms of money
1.1.4 Production possibility frontiers
PPF graphs and what they show including opportunity cost and straight line PPF graphs
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- Summary
- • 3 pages •
PPF graphs and what they show including opportunity cost and straight line PPF graphs
1.1.2 Positive and normative economic statements
Positive and normative statements
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- Summary
- • 1 pages •
Positive and normative statements
1.1.1 Economics as a social science
Cetris paribus explanation
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- Summary
- • 1 pages •
Cetris paribus explanation