A2 WJEC Revision Guide

£5.00

  • (e-book)
  • WJEC A2 level (units 3-4)
  • All content for A2 macro and A2 micro economics

 

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