Edexcel International GCSE (9–1) Economics (Modular) 4XEC1 · 1.1.2

Economic assumptions

Code: 1.1.2
In: 1.1 The market system
Topic: 1 Microeconomics and Business Economics
Course: International GCSE (9–1) Economics (Modular) 4XEC1
Board: Edexcel

Codes and titles are read by a script from Edexcel's published specification and have not been checked by a person. What each point covers is in the specification itself: Edexcel’s specification.

Points under 1.1.2

1.1.2.a Assumptions of benefit and profit maximisation
1.1.2.b Why consumers may not maximise their benefit
1.1.2.c Why producers may not maximise their profit

Points in 1.1 The market system

1.1.1 The economic problem
1.1.2 Economic assumptions
1.1.3 Demand, supply and market equilibrium
1.1.4 Elasticity
1.1.5 The mixed economy
1.1.6 Externalities