A brief overview of OCR economics. Main topics and recommended revision guide for OCR.
F581 – Markets in Action
- The reasons for individuals, organisations, and societies having to make choices
- Competitive markets and how they work
- Market failure and government intervention
Unit F582: The National and International Economy
- Aggregate demand and aggregate supply and their interaction
- Government economic policy objectives and indicators of national economic performance
- The application of macroeconomic policy instruments; and the international economy
Revision Guide OCR AS Economics
- 60 pages of revision notes for OCR AS economics.
- Laid out in simple but concise form.
- Use of diagrams needed in exam.
- Suggestions for evaluation that can be used in exam.
- The Revision Guide comes in PDF format.
Readers Question: What are the key economic diagrams for AS OCR Economics?
Unit 1 Diagrams
The key diagrams for Markets and market failure are the basic supply and demand diagrams
More complicated are the diagrams for externalities.
Then you need to know who to deal with the externalities through taxes and subsidies.
There are other diagrams such as for Monopoly. But, at AS level a basic supply and demand diagram showing an inelastic demand and rising price is fine.