A2 WJEC Revision Guide
£5.00
- (e-book)
- WJEC A2 level (units 3-4)
- All content for A2 macro and A2 micro economics
- Last updated June 2022
Description
More details on content of WJEC A2 economics
Unit 3 – A2 Microeconomics
- Costs of production
- Law of diminishing returns
- Economies of scale
- Revenue
- Profit
- Profit maximisation
- The growth of firms
- Types of efficiency
- Market structures
- Examples of barriers to entry
- Contestable markets
- Business objectives
- Perfect competition
- Monopolistic competition
- Monopoly
- Price discrimination
- Oligopoly
- Collusion
- Nash equilibrium
- Competition policy
- Mergers
- Privatisation
- Public ownership
- Regulation of privatised industries
Unit 4 – A2 Macroeconomics
- Aggregate supply (AS) – SRAS / LRAS
- The Phillips curve
- Economic growth
- Output gaps
- Unemployment and employment
- Inflation
- Deflation
- The balance of payments
- Terms of trade
- Fiscal policy
- Government borrowing
- The national debt
- Monetary policy
- Financial stability
- Regulation of the financial system
- International trade
- Globalisation
- Economic integration
- Euro/ Monetary union
- Economic development
