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• How to use this book; Introduction; Introducing command words; Unit 1; Basic economic ideas and resource allocation (AS Level); 1 Scarcity, choice and opportunity cost; 2 Economic methodology; 3 Factors of production; 4 Resource allocation in different economic systems; 5 Production possibility curves; 6 Classification of goods and services; Unit 2; The price system and the micro economy (AS Level); 7 Demand and supply curves; 8 Price elasticity, income elasticity and cross-elasticities of demand; 9 Price elasticity of supply; 10 The interaction of demand and supply; 11 Consumer and producer surplus; Unit 3; Government microeconomic intervention (AS Level); 12 Reasons for government interventions in markets; 13 Methods and effects of government interventions in markets; 14 Addressing income and wealth inequality; Unit 4; The macro economy (AS Level); 15 National income statistics; 16 Introduction to the circular flow of income; 17 Aggregate demand (AD) and aggregate supply (AS) analysis; 18 Economic growth; 19 Unemployment; 20 Price stability; Unit 5; Government macroeconomic intervention (AS Level); 21 Government macroeconomic policy objectives; 22 Fiscal policy; 23 Monetary policy; 24 Supply-side policy; Unit 6; International economic issues (AS Level); 25 The reasons for international trade; 26 Protectionism; 27 Current account of the balance of payments; 28 Exchange rates; 29 Policies to correct imbalances in the current account of the balance of payments; Unit 7; The price system and the micro economy (A Level); 30 Utility; 31 Indifference curves and budget lines; 32 Efficiency and market failure; 33 Private costs and benefits, externalities and social costs and benefits; 34 Types of cost, revenue and profit, short-run and long-run production; 35 Different market structures; 36 Growth and survival of firms; 37 Differing objectives and policies of firms; Unit 8; Government microeconomic intervention (A Level); 38 Government policies to achieve efficient resource allocation and correct market failure; 39 Equity and redistribution of income and wealth; 40 Labour market forces and government intervention; Unit 9; The macro economy (A Level); 41 The circular flow of income; 42 Economic growth and sustainability; 43 Employment and unemployment; 44 Money and banking; Unit 10; Government macroeconomic issues (A Level); 45 Government macroeconomic policy objectives; 46 Links between macroeconomic problems and their interrelatedness; 47 Effectiveness of policy options to meet all macroeconomic objectives; Unit 11; International economic issues (A Level); 48 Policies to correct disequilibrium in the balance of payments; 49 Exchange rates; 50 Economic development; 51 Characteristics of countries at different levels of development; 52 Relationship between countries at different levels of development; 53 Globalisation; Acknowledgements.

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• How to use this book; Introduction; Introducing command words; Unit 1; Basic economic ideas and resource allocation (AS Level); 1 Scarcity, choice and opportunity cost; 2 Economic methodology; 3 Factors of production; 4 Resource allocation in different economic systems; 5 Production possibility curves; 6 Classification of goods and services; Unit 2; The price system and the micro economy (AS Level); 7 Demand and supply curves; 8 Price elasticity, income elasticity and cross-elasticities of demand; 9 Price elasticity of supply; 10 The interaction of demand and supply; 11 Consumer and producer surplus; Unit 3; Government microeconomic intervention (AS Level); 12 Reasons for government interventions in markets; 13 Methods and effects of government interventions in markets; 14 Addressing income and wealth inequality; Unit 4; The macro economy (AS Level); 15 National income statistics; 16 Introduction to the circular flow of income; 17 Aggregate demand (AD) and aggregate supply (AS) analysis; 18 Economic growth; 19 Unemployment; 20 Price stability; Unit 5; Government macroeconomic intervention (AS Level); 21 Government macroeconomic policy objectives; 22 Fiscal policy; 23 Monetary policy; 24 Supply-side policy; Unit 6; International economic issues (AS Level); 25 The reasons for international trade; 26 Protectionism; 27 Current account of the balance of payments; 28 Exchange rates; 29 Policies to correct imbalances in the current account of the balance of payments; Unit 7; The price system and the micro economy (A Level); 30 Utility; 31 Indifference curves and budget lines; 32 Efficiency and market failure; 33 Private costs and benefits, externalities and social costs and benefits; 34 Types of cost, revenue and profit, short-run and long-run production; 35 Different market structures; 36 Growth and survival of firms; 37 Differing objectives and policies of firms; Unit 8; Government microeconomic intervention (A Level); 38 Government policies to achieve efficient resource allocation and correct market failure; 39 Equity and redistribution of income and wealth; 40 Labour market forces and government intervention; Unit 9; The macro economy (A Level); 41 The circular flow of income; 42 Economic growth and sustainability; 43 Employment and unemployment; 44 Money and banking; Unit 10; Government macroeconomic issues (A Level); 45 Government macroeconomic policy objectives; 46 Links between macroeconomic problems and their interrelatedness; 47 Effectiveness of policy options to meet all macroeconomic objectives; Unit 11; International economic issues (A Level); 48 Policies to correct disequilibrium in the balance of payments; 49 Exchange rates; 50 Economic development; 51 Characteristics of countries at different levels of development; 52 Relationship between countries at different levels of development; 53 Globalisation; Acknowledgements.

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• How to use this book; Introduction; Introducing command words; Unit 1; Basic economic ideas and resource allocation (AS Level); 1 Scarcity, choice and opportunity cost; 2 Economic methodology; 3 Factors of production; 4 Resource allocation in different economic systems; 5 Production possibility curves; 6 Classification of goods and services; Unit 2; The price system and the micro economy (AS Level); 7 Demand and supply curves; 8 Price elasticity, income elasticity and cross-elasticities of demand; 9 Price elasticity of supply; 10 The interaction of demand and supply; 11 Consumer and producer surplus; Unit 3; Government microeconomic intervention (AS Level); 12 Reasons for government interventions in markets; 13 Methods and effects of government interventions in markets; 14 Addressing income and wealth inequality; Unit 4; The macro economy (AS Level); 15 National income statistics; 16 Introduction to the circular flow of income; 17 Aggregate demand (AD) and aggregate supply (AS) analysis; 18 Economic growth; 19 Unemployment; 20 Price stability; Unit 5; Government macroeconomic intervention (AS Level); 21 Government macroeconomic policy objectives; 22 Fiscal policy; 23 Monetary policy; 24 Supply-side policy; Unit 6; International economic issues (AS Level); 25 The reasons for international trade; 26 Protectionism; 27 Current account of the balance of payments; 28 Exchange rates; 29 Policies to correct imbalances in the current account of the balance of payments; Unit 7; The price system and the micro economy (A Level); 30 Utility; 31 Indifference curves and budget lines; 32 Efficiency and market failure; 33 Private costs and benefits, externalities and social costs and benefits; 34 Types of cost, revenue and profit, short-run and long-run production; 35 Different market structures; 36 Growth and survival of firms; 37 Differing objectives and policies of firms; Unit 8; Government microeconomic intervention (A Level); 38 Government policies to achieve efficient resource allocation and correct market failure; 39 Equity and redistribution of income and wealth; 40 Labour market forces and government intervention; Unit 9; The macro economy (A Level); 41 The circular flow of income; 42 Economic growth and sustainability; 43 Employment and unemployment; 44 Money and banking; Unit 10; Government macroeconomic issues (A Level); 45 Government macroeconomic policy objectives; 46 Links between macroeconomic problems and their interrelatedness; 47 Effectiveness of policy options to meet all macroeconomic objectives; Unit 11; International economic issues (A Level); 48 Policies to correct disequilibrium in the balance of payments; 49 Exchange rates; 50 Economic development; 51 Characteristics of countries at different levels of development; 52 Relationship between countries at different levels of development; 53 Globalisation; Acknowledgements.