Edexcel Economics a Theme 1

Description This book is intended as both a revision guide and student notes for Edexcel Economics A Theme 1: Introduction to markets and market failure.

Topics covered include:

Basic economic problem Opportunity cost Specialisation and the division of labour Behavioural economics Economic systems Demand/supply Market clearing Elasticities - PED, PES, YED, XED Incidence of taxation The housing market Market failure Public goods & private goods Detailed examples of market failure covered:

Road pricing Healthcare Higher education New airports and runways Buffer stock schemes Agriculture Pollution Fishing Although mainly aimed at the Edexcel A Level syllabus it may also have relevance for other students on other economics courses post-16 or degree level.