Edexcel A Level Economics A:复习笔记1.3.2 Externalities
Externalities & Different Types of Costs Externalities occur when there is an external impact on a third party not involved in the economic transaction These impacts can be positive or negative...
Edexcel A Level Economics A:复习笔记1.3.1 Types of Market Failure
Understanding Market Failure In a free market, the price mechanism determines the most efficient allocation of scarce resources in response to the competing wants and needs in the marketplace Scarc...
Edexcel A Level Economics A:复习笔记1.2.10 Alternative Views of Consumer Behaviour
Alternative Views of Consumer Behaviour Free markets are built on the assumptions of rational decision making In classical economic theory, the word 'rational' means that economic agents are able t...
Edexcel A Level Economics A:复习笔记1.2.9 Indirect Taxes and Subsidies
Indirect Taxes An indirect tax is paid on the consumption of goods/services It is only paid if consumers make a purchase It is usually levied by the government on demerit goods to reduce the quanti...
Edexcel A Level Economics A:复习笔记1.2.8 Producer & Consumer Surplus
Producer & Consumer Surplus Consumer surplus is the difference between the amount the consumer is willing to pay for a product and the price they have actually paid For example, if a consumer i...
Edexcel A Level Economics A:复习笔记1.2.7 Price Mechanism
Functions of The Price Mechanism The price mechanism is the interaction of demand and supply in a free market This interaction determines prices which are the means by which scarce resources are al...
Edexcel A Level Economics A:复习笔记1.2.6 Price Determination
Price Determination & Equilibrium Price Determination In a free market economy, prices are determined by the interaction of demand and supply in a market A market is any place that brings buyer...
2022年牛津大学各专业本科面试时间已公布！
近期，牛津大学公布了2022入围2023入学的申请者临时面试时间表！ 今年牛津依旧采用线上面试的形式，牛津在面试时间表里公布了三个时间，分别为：提前安排好的面试时间、额外面试通知时间和额外面试时间。 大部分...
Edexcel A Level Economics A:复习笔记1.2.5 Elasticity of Supply
Price Elasticity of Supply (PES) The law of supply states that when there is an increase in price (ceteris paribus), producers will increase the quantity supplied and vice versa Economists are inte...
