Edexcel A Level Economics A:復習筆記1.2.4 Supply
Supply Supply?is the amount of a good/service that a producer is willing and able to supply at a given price in a given time period A?supply curve?is a graphical representation of the?price?and?qua...
Edexcel A Level Economics A:復習筆記1.2.3 Price, Income & Cross Elasticities of Demand
Price Elasticity of Demand (PED) The?law of demand?states that when there is an increase in price, there will be a fall in quantity demanded Economists are interested?by how much?the?quantity deman...
Edexcel A Level Economics A:復習筆記1.2.2 Demand
Demand Demand?is the amount of a good/service that a consumer is willing and able to purchase at a given price in a given time period If a consumer is willing to purchase a good, but cannot afford ...
Edexcel A Level Economics A:復習筆記1.2.1 Rational Decision Making
Rational Decision Making When analysing markets, a?range of assumptions?are made about the?rationality?of?economic agents involved in the transactions In classical economic theory, the word?...
Edexcel A Level Economics A:復習筆記1.1.6 Free Market Economies, Mixed Economy and Command Economy
Free Market, Mixed & Command Economies In order to solve the basic economic problem of?scarcity, economic systems emerge or are created by different economic agents within the economy Th...
Edexcel A Level Economics A:復習筆記1.1.5 Specialisation & the Division of Labour
Specialisation & The Division of Labour Scotsman?Adam Smith?is often referred to as the 'father of Economics' He published?'The Wealth of Nations'?in March 1776 and explained many fundam...
Edexcel A Level Economics A:復習筆記1.1.4 Production Possibility Frontiers
Production Possibility Frontiers The?Production Possibility Frontiers?(PPF)?model is an?economic model?that considers the?maximum possible production?(output) that a country can generate if ...
Edexcel A Level Economics A:復習筆記1.1.3 The Economic Problem
The Basic Economic Problem: Scarcity The?basic economic problem?is that resources are?scarce There are?finite resources?available in relation to the?infinite wants and needs?that humans have...
Edexcel A Level Economics A:復習筆記1.1.2 Positive & Normative Economic Statements
Positive & Normative Statements Positive economics?is concerned with?objective statements?of how a market or an economy works These?positive economic statements?are based on empirical ev...
