Syllabus / Specification / Overview
Basic Economic Ideas
basic economic ideas (30) factors of production (7) public goods (7) classification of goods and services (7) opportunity cost (6) PPC (6) production possibility curve (5) economic systems (5) planned economy vs market economy vs mixed economy (4) scarcity (4) demerit goods (3) mixed economy (3) normative statement (3) short run vs long run vs very long run (3) ceteris paribus (3) planned economy (3) specialization (3) positive statement (3) merit goods (3) division of labour (3) PPF (2) free goods (2) economic methodology (2) private goods (2) how to produce (2) free-rider problem (2) market economy (2) efficiency (2) what to produce (2) production possibility frontier (2) barter (2) double coincidence of wants (2) medium of exchange (2) merit goods vs demerit goods (2) command economy (2) for whom to produce (2)
Price System and Microeconomy
demand curve (7) rationing (4) elasticities in economics (4) joint supply (3) functions of price (3) Price Elasticity of Supply (3) XED (3) price elasticity of demand (3) YED (3) market equilibrium (3) PED (3) consumer theory (3) supply curve (3) PES (3) income elasticity of demand (2) normal goods (2) total utility (2) signalling (2) market equilibrium vs market disequilibrium (2) joint demand (2) substitutes (2) inferior goods (2) derived demand (2) effective demand (2) cross elasticity of demand (2) complements (2) utility theory (2) diminishing marginal utility (2) equi-marginal principle (2) marginal utility (2) market disequilibrium (2) consumer surplus (2) producer surplus (2) consumer surplus vs producer surplus (2)
Micro Intervention
taxation (14) market failure (8) micro intervention (6) inequality (5) income tax (4) microeconomic government intervention (4) progressive tax system (4) price controls (3) direct tax (3) minimum wage (3) gini coefficient (3) indirect tax (3) price floor (3) minimum price (3) transfer payments (3) direct tax vs indirect tax (3) subsidy (3) income vs wealth (2) buffer stock (2) maximum price (2) rates of tax (2) marginal rate of tax (2) average rate of tax (2) inheritance tax (2) price ceiling (2) regressive tax system (2) proportional tax system (2)
Macroeconomy
economic growth (19) inflation (16) unemployment (14) AD-AS analysis (14) aggregate demand (9) equilibrium level of national income (7) real GDP (6) aggregate supply (6) GDP (6) national income statistics (5) circular flow of income (5) causes of unemployment (5) types of unemployment (5) causes of inflation (4) injections vs leakages (4) leakages (4) frictional unemployment (4) structural unemployment (4) GNI (3) cost-push inflation (3) injections (3) demand-pull inflation (3) natural rate of unemployment (3) NNI (3) full employment (3) potential growth (3) cyclical unemployment (3) actual growth (3) consequences of inflation (2) real value (2) disinflation (2) nominal GDP (2) national income (2) deflation (2) consequences of economic growth (2) effects of economic growth (2) demand-deficient unemployment (2) labour force survey (2) consequences of unemployment (2) causes of economic growth (2) gross national income (2) claimant count (2) effects of inflation (2) effects of unemployment (2) real data (2) investment (2) net national income (2) gross domestic product (2) measures of unemployment (2)
Macro Intervention
fiscal policy (16) macro policy (15) macro intervention (13) monetary policy (8) macro objectives (7) government budget (5) interest rate (3) supply-side policy (3) government spending (3) budget deficit (3) budget surplus (3) money supply (3) quantitative easing (2) expansionary fiscal policy (2) contractionary fiscal policy (2) national debt (2)