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AQA AS-level Economics Topics

Tornike Asatiani - Co-founder & COO of Edumentors
Tornike Asatiani January 3, 2024

Economic Methodology and the Economic Problem

Economic methodology
The nature and purpose of economic activity
Economic resources
Scarcity, choice and the allocation of resources Content
Production possibility diagrams

Price Determination in a Competitive Market

The determinants of the demand for goods and services
Price, income and cross elasticities of demand
The determinants of the supply of goods and services
Price elasticity of supply
The determination of equilibrium market prices
The interrelationship between markets

Production, Costs and Revenue

Production and productivity
Specialisation, division of labour and exchange
Costs of production
Economies and diseconomies of scale
Average revenue, total revenue and profit

Competitive and Concentrated Markets

Market structures
The objectives of firms
Competitive markets
Monopoly and monopoly power
The competitive market process

The Market Mechanism, Market Failure and Government Intervention in Markets

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