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Edexcel iGCSE Economics - Paper 1

This class was created by Brainscape user jasmin darrington. Visit their profile to learn more about the creator.

By: jasmin darrington
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Decks in this class (12)

The economic problem
What is the basic economic problem 1,
Define opportunity cost 2,
What does a ppc ppf show 3
5  cards
Economic assumptions
What are the underlying assumptio...,
Why might consumers fail to maxim...,
Why might producers fail to maxim...
3  cards
Demand, supply and market equilibrium
Define demand 1,
What causes shifts in the demand ...,
Define supply 3
9  cards
Elasticity
What is the definition of price e...,
What is the ped formula 2,
How do you calculate ped using ch...
17  cards
The mixed economy
What is the definition of a mixed...,
What are the definitions of the p...,
What are the differences between ...
15  cards
Externalities
What are external costs 1,
What are some examples of externa...,
What are external benefits 3
6  cards
Production
What are the four factors of prod...,
What are the three main sectors o...,
How has the importance of the pri...
4  cards
Productivity and division of labour
What is the definition of product...,
What factors affect the productiv...,
What factors affect the productiv...
9  cards
Business costs, revenues and profit
What is the formula for total rev...,
What is the formula for total cos...,
What is the formula for total fix...
15  cards
Business competition
What are the advantages of compet...,
What are the disadvantages of com...,
What are the advantages of large ...
16  cards
The Labour market
What factors affect the demand fo...,
What factors affect the supply of...,
Why is the quantity and quality o...
9  cards
Government intervention
What are the government policies ...,
What are the advantages and disad...,
What are the advantages and disad...
16  cards

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Edexcel iGCSE Economics - Paper 1

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