WJEC AS Economics B520QS · 4
Factors influencing demand and supply in product markets
- Code
- 4
- Topic of
- WJEC AS Economics B520QS
- Course
- AS Economics B520QS
- Board
- WJEC
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.
Topics in B520QS
- 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 Understanding market failure
- 12 Why and how governments intervene in markets
- 13 The effects of government intervention
- 14 The circular flow of income model
- 15 The components of aggregate demand (AD)
- 16 The AD function
- 17 The aggregate supply (AS) function
- 18 AD/AS analysis
- 19 Government policy objectives
- 20 Fiscal policy
- 21 Monetary policy
- 22 Exchange rates and exchange rate policy
- 23 Supply side policies
- 24 Free trade and protectionism