Edexcel A Level Economics A:复习笔记4.1.4 Terms of Trade
The Terms of Trade Terms of trade refer to the ratio of a country’s average price of exports to the country’s average price of imports The relative price of imports & exports can have a direct ...
Edexcel A Level Economics A:复习笔记4.1.3 Pattern of Trade
Factors Influencing the Pattern of Trade Numerous factors influence the pattern of trade between countries Patterns of trade can change significantly over time e.g. up to the 1980s the UK traded pr...
Edexcel A Level Economics A:复习笔记4.1.2 Specialisation & Trade
Absolute & Comparative Advantage International trade decreases prices & increases the variety of goods/services available to a nation This results in a higher standard of living Comparative...
Edexcel A Level Economics A:复习笔记4.1.1 Globalisation
Characteristics of Globalisation Globalisation is the economic integration of different countries through increasing freedoms in the cross-border movement of people, goods/services, technology &...
Edexcel A Level Economics A:复习笔记3.6.2 The Impact of Government Intervention
The Impact of Government Intervention The Desired Outcomes Of Government Intervention Prices Profit Efficiency Affordable & stable prices Permitting enough to keep firms in the industry (normal...
Edexcel A Level Economics A:复习笔记3.6.1 Government Intervention
Intervention to Control Mergers The Competition & Markets Authority (CMA) is the UK Government regulator tasked with ensuring that the creation of monopoly power is avoided & that consumers...
Edexcel A Level Economics A:复习笔记3.5.3 Wage Determination in Competitive & Non-competitive Markets
Diagrammatic Analysis of the Labour Market Labour market equilibrium occurs where the demand for labour (DL) is equal to the supply of labour (SL) The DL is the demand by firms for workers The SL i...
Edexcel A Level Economics A:复习笔记3.5.2 Supply of Labour
Factors Influencing the Supply of Labour There are numerous factors that influence the amount of labour supplied to a particular industry Different factors are present in different markets e.g. in ...
Edexcel A Level Economics A:复习笔记3.5.1 Demand for Labour
Factors That Influence The Demand for Labour The labour market is composed of sellers of labour (households) & buyers of labour (firms) Workers supply their labour & firms demand labour The...
