Syllabus / Specification / Overview
Basic Economic Ideas
basic economic ideas (30) classification of goods and services (7) factors of production (7) public goods (7) opportunity cost (6) PPC (6) production possibility curve (5) economic systems (5) planned economy vs market economy vs mixed economy (4) scarcity (4) division of labour (3) merit goods (3) specialization (3) demerit goods (3) planned economy (3) normative statement (3) ceteris paribus (3) positive statement (3) short run vs long run vs very long run (3) mixed economy (3) market economy (2) medium of exchange (2) production possibility frontier (2) barter (2) command economy (2) merit goods vs demerit goods (2) double coincidence of wants (2) private goods (2) economic methodology (2) free-rider problem (2) for whom to produce (2) PPF (2) efficiency (2) free goods (2) what to produce (2) how to produce (2)
Price System and Microeconomy
demand curve (7) rationing (4) elasticities in economics (4) PES (3) supply curve (3) market equilibrium (3) YED (3) Price Elasticity of Supply (3) price elasticity of demand (3) joint supply (3) consumer theory (3) functions of price (3) PED (3) XED (3) marginal utility (2) derived demand (2) cross elasticity of demand (2) market equilibrium vs market disequilibrium (2) total utility (2) consumer surplus (2) complements (2) effective demand (2) equi-marginal principle (2) consumer surplus vs producer surplus (2) market disequilibrium (2) utility theory (2) producer surplus (2) inferior goods (2) normal goods (2) joint demand (2) substitutes (2) signalling (2) income elasticity of demand (2) diminishing marginal utility (2)
Micro Intervention
taxation (13) market failure (8) micro intervention (6) inequality (5) microeconomic government intervention (4) income tax (4) minimum price (3) price floor (3) subsidy (3) minimum wage (3) price controls (3) gini coefficient (3) progressive tax system (3) direct tax (2) buffer stock (2) inheritance tax (2) income vs wealth (2) price ceiling (2) maximum price (2) transfer payments (2) indirect tax (2) rates of tax (2) direct tax vs indirect tax (2)
Macroeconomy
economic growth (14) AD-AS analysis (11) inflation (11) unemployment (9) aggregate demand (9) aggregate supply (6) national income statistics (5) GDP (5) equilibrium level of national income (5) circular flow of income (5) real GDP (5) leakages (4) injections vs leakages (4) causes of unemployment (4) types of unemployment (4) GNI (3) full employment (3) frictional unemployment (3) natural rate of unemployment (3) causes of inflation (3) actual growth (3) structural unemployment (3) injections (3) potential growth (3) NNI (3) cost-push inflation (2) national income (2) gross domestic product (2) real value (2) net national income (2) gross national income (2) demand-pull inflation (2) real data (2) cyclical unemployment (2)