Specification points

WJEC A-level Economics A520QS

79 points in 51 topics, with WJEC's codes and titles.

Grade boundaries·WJEC command words

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

1 Scarcity, choice and opportunity cost

2 Production possibility frontiers (PPFs)

3 Specialisation, division of labour and exchange

4 Factors influencing demand and supply in product markets

5 The determination of equilibrium price and output in a freely competitive market

6 Consumer and producer surplus

7 Price, income and cross price elasticities of demand, price elasticity of supply

8 Wage determination

9 Labour market issues

10 How resources are allocated in a free market economy

11 Costs, revenues and profits

12 The growth of firms

13 Efficiency

14 Background to market structures

15 Business objectives

16 Perfect competition

17 Monopolistic competition

18 Monopoly

19 Oligopoly

20 Competition policy

21 Privatisation

22 Understanding market failure

23 Why and how governments intervene in markets

24 The effects of government intervention

25 The circular flow of income model

26 The components of aggregate demand (AD)

27 The AD function

28 The aggregate supply (AS) function

29 Short run aggregate supply (SRAS)

30 Long run aggregate supply (LRAS)

31 AD/AS analysis

32 The short run Phillips curve

33 The long run Phillips curve

34 Government policy objectives

35 Economic growth

36 Unemployment

37 Inflation and deflation

38 The balance of payments

39 Control of the national (public sector) debt

40 Fiscal policy

41 Monetary policy

42 Exchange rates and exchange rate policy

43 Supply side policies

44 Advantages and disadvantages of free trade

45 Protectionism

46 Globalisation

47 Trade and the UK

48 European Union

49 Measurement

50 Obstacles

51 Solutions