Edexcel A Level Economics A:复习笔记4.2.2 Inequality
Inequality Income & wealth inequality are two different concepts Income inequality refers to the unequal distribution (flow) of income to households i.e rent, wages, interest & profit Wealt...
Edexcel A Level Economics A:复习笔记4.2.1 Absolute & Relative Poverty
Absolute & Relative Poverty Absolute poverty is a situation where individuals cannot afford to acquire the basic necessities for a healthy & safe existence These necessities include shelter...
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Edexcel A Level Economics A:复习笔记4.1.9 International Competitiveness
Measures of International Competitiveness International competitiveness refers to how well a country's products compete in international markets Competitiveness can change over time In order to mak...
Edexcel A Level Economics A:复习笔记4.1.8 Exchange Rates
Exchange Rate Systems An exchange rate is the price of one currency in terms of another e.g. £1 = €1.18 International currencies are essentially products that can be bought & sold on the foreig...
Edexcel A Level Economics A:复习笔记4.1.7 Balance of Payments
Components of the Balance of Payments The Balance of Payments (BoP) for a country is a record of all the financial transactions that occur between it and the rest of the world The BoP has two main ...
Edexcel A Level Economics A:复习笔记4.1.6 Restrictions on Free Trade
Reasons for Restrictions on Free Trade (Protectionism) Free trade aims to maximise global output based on the principle of comparative advantage However, there are numerous reasons why countries wo...
Edexcel A Level Economics A:复习笔记4.1.5 Trading Blocs & the World Trade Organisation (WTO)
Types of Trading Blocs A trading bloc is a group of countries who come together & agree to reduce or eliminate any barriers to trade that exist between them There are different levels of econom...
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 &...
