{"id":11996,"date":"2024-01-03T15:34:43","date_gmt":"2024-01-03T15:34:43","guid":{"rendered":"https:\/\/edumentors.co.uk\/blog\/?p=11996"},"modified":"2024-01-03T15:34:44","modified_gmt":"2024-01-03T15:34:44","slug":"aqa-as-level-economics-topics","status":"publish","type":"post","link":"https:\/\/edumentors.co.uk\/blog\/aqa-as-level-economics-topics\/","title":{"rendered":"AQA AS-level Economics Topics"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<h2 class=\"wp-block-heading\">Economic Methodology and the Economic Problem<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"335\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.41-PM-1024x335.jpg\" alt=\"Economic methodology\" class=\"wp-image-11997\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.41-PM-1024x335.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.41-PM-300x98.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.41-PM-768x251.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.41-PM-1536x502.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.41-PM-2048x669.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"264\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.49-PM-1024x264.jpg\" alt=\"The nature and purpose of economic activity\n\" class=\"wp-image-11998\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.49-PM-1024x264.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.49-PM-300x77.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.49-PM-768x198.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.49-PM-1536x395.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.49-PM-2048x527.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"239\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.55-PM-1024x239.jpg\" alt=\"Economic resources\n\" class=\"wp-image-11999\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.55-PM-1024x239.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.55-PM-300x70.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.55-PM-768x179.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.55-PM-1536x358.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.12.55-PM-2048x477.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"252\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.01-PM-1024x252.jpg\" alt=\"Scarcity, choice and the allocation of resources\nContent\" class=\"wp-image-12000\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.01-PM-1024x252.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.01-PM-300x74.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.01-PM-768x189.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.01-PM-1536x378.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.01-PM-2048x503.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"277\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.07-PM-1024x277.jpg\" alt=\"Production possibility diagrams\" class=\"wp-image-12001\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.07-PM-1024x277.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.07-PM-300x81.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.07-PM-768x207.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.07-PM-1536x415.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.13.07-PM-2048x553.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Price Determination in a Competitive Market<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"237\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.46.59-PM-1024x237.jpg\" alt=\"The determinants of the demand for goods and services\n\" class=\"wp-image-12002\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.46.59-PM-1024x237.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.46.59-PM-300x69.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.46.59-PM-768x178.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.46.59-PM-1536x355.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.46.59-PM-2048x474.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"335\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.06-PM-1024x335.jpg\" alt=\"Price, income and cross elasticities of demand\n\" class=\"wp-image-12003\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.06-PM-1024x335.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.06-PM-300x98.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.06-PM-768x251.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.06-PM-1536x502.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.06-PM-2048x669.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"274\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.11-PM-1024x274.jpg\" alt=\"The determinants of the supply of goods and services\n\" class=\"wp-image-12004\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.11-PM-1024x274.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.11-PM-300x80.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.11-PM-768x206.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.11-PM-1536x411.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.11-PM-2048x548.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"183\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.16-PM-1024x183.jpg\" alt=\"Price elasticity of supply\n\" class=\"wp-image-12005\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.16-PM-1024x183.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.16-PM-300x54.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.16-PM-768x138.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.16-PM-1536x275.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.16-PM-2048x367.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"249\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.23-PM-1024x249.jpg\" alt=\"The determination of equilibrium market prices\n\" class=\"wp-image-12006\" style=\"aspect-ratio:4.112449799196787;width:839px;height:auto\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.23-PM-1024x249.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.23-PM-300x73.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.23-PM-768x186.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.23-PM-1536x373.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.23-PM-2048x497.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"231\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.28-PM-1024x231.jpg\" alt=\"The interrelationship between markets\n\" class=\"wp-image-12007\" style=\"aspect-ratio:4.432900432900433;width:840px;height:auto\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.28-PM-1024x231.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.28-PM-300x68.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.28-PM-768x173.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.28-PM-1536x346.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.47.28-PM-2048x462.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Production, Costs and Revenue<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"221\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.02-PM-1024x221.png\" alt=\"Production and productivity\n\" class=\"wp-image-12012\" style=\"aspect-ratio:4.633484162895928;width:840px;height:auto\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.02-PM-1024x221.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.02-PM-300x65.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.02-PM-768x166.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.02-PM-1536x332.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.02-PM-2048x443.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"230\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.23-PM-1024x230.png\" alt=\"Specialisation, division of labour and exchange\n\" class=\"wp-image-12011\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.23-PM-1024x230.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.23-PM-300x67.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.23-PM-768x173.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.23-PM-1536x345.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.23-PM-2048x460.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"294\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.27-PM-1024x294.png\" alt=\"Costs of production\n\" class=\"wp-image-12010\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.27-PM-1024x294.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.27-PM-300x86.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.27-PM-768x221.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.27-PM-1536x442.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.27-PM-2048x589.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"246\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.33-PM-1024x246.png\" alt=\"Economies and diseconomies of scale\" class=\"wp-image-12009\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.33-PM-1024x246.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.33-PM-300x72.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.33-PM-768x184.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.33-PM-1536x369.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.33-PM-2048x492.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"205\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.37-PM-1024x205.png\" alt=\"Average revenue, total revenue and profit\n\" class=\"wp-image-12008\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.37-PM-1024x205.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.37-PM-300x60.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.37-PM-768x153.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.37-PM-1536x307.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-6.52.37-PM-2048x409.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Competitive and Concentrated Markets<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"235\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.37-PM-1024x235.png\" alt=\"Market structures\n\" class=\"wp-image-12018\" style=\"aspect-ratio:4.357446808510638;width:845px;height:auto\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.37-PM-1024x235.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.37-PM-300x69.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.37-PM-768x176.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.37-PM-1536x352.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.37-PM-2048x470.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"205\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.41-PM-1024x205.png\" alt=\"The objectives of firms\n\" class=\"wp-image-12017\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.41-PM-1024x205.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.41-PM-300x60.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.41-PM-768x154.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.41-PM-1536x307.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.41-PM-2048x410.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"250\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.46-PM-1024x250.png\" alt=\"Competitive markets\" class=\"wp-image-12016\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.46-PM-1024x250.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.46-PM-300x73.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.46-PM-768x188.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.46-PM-1536x376.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.46-PM-2048x501.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"396\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.53-PM-1024x396.png\" alt=\"Monopoly and monopoly power\" class=\"wp-image-12015\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.53-PM-1024x396.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.53-PM-300x116.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.53-PM-768x297.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.53-PM-1536x594.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.53-PM-2048x791.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"227\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.58-PM-1024x227.png\" alt=\"The competitive market process\n\" class=\"wp-image-12014\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.58-PM-1024x227.png 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.58-PM-300x67.png 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.58-PM-768x170.png 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.58-PM-1536x341.png 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.00.58-PM-2048x454.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">The Market Mechanism, Market Failure and Government Intervention in Markets<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"255\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.48-PM-1024x255.jpg\" alt=\"\" class=\"wp-image-12019\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.48-PM-1024x255.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.48-PM-300x75.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.48-PM-768x191.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.48-PM-1536x382.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.48-PM-2048x510.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"353\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.52-PM-1024x353.jpg\" alt=\"\" class=\"wp-image-12020\" style=\"aspect-ratio:2.9008498583569406;width:840px;height:auto\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.52-PM-1024x353.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.52-PM-300x103.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.52-PM-768x265.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.52-PM-1536x529.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.52-PM-2048x706.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"331\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.57-PM-1024x331.jpg\" alt=\"\" class=\"wp-image-12021\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.57-PM-1024x331.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.57-PM-300x97.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.57-PM-768x248.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.57-PM-1536x496.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.26.57-PM-2048x662.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"251\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.01-PM-1024x251.jpg\" alt=\"\" class=\"wp-image-12022\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.01-PM-1024x251.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.01-PM-300x73.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.01-PM-768x188.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.01-PM-1536x376.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.01-PM-2048x502.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"316\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.05-PM-1024x316.jpg\" alt=\"\" class=\"wp-image-12023\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.05-PM-1024x316.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.05-PM-300x93.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.05-PM-768x237.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.05-PM-1536x474.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.05-PM-2048x633.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"293\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.10-PM-1024x293.jpg\" alt=\"\" class=\"wp-image-12024\" style=\"aspect-ratio:3.4948805460750854;width:839px;height:auto\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.10-PM-1024x293.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.10-PM-300x86.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.10-PM-768x220.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.10-PM-1536x439.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.10-PM-2048x586.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"287\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.15-PM-1024x287.jpg\" alt=\"\" class=\"wp-image-12025\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.15-PM-1024x287.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.15-PM-300x84.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.15-PM-768x215.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.15-PM-1536x431.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.15-PM-2048x574.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"360\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.20-PM-1024x360.jpg\" alt=\"\" class=\"wp-image-12026\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.20-PM-1024x360.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.20-PM-300x105.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.20-PM-768x270.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.20-PM-1536x540.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.20-PM-2048x719.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"338\" src=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.24-PM-1024x338.jpg\" alt=\"\" class=\"wp-image-12027\" style=\"aspect-ratio:3.029585798816568;width:840px;height:auto\" srcset=\"https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.24-PM-1024x338.jpg 1024w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.24-PM-300x99.jpg 300w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.24-PM-768x254.jpg 768w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.24-PM-1536x508.jpg 1536w, https:\/\/edumentors.co.uk\/blog\/wp-content\/uploads\/2024\/01\/Screenshot-2024-01-03-at-7.27.24-PM-2048x677.jpg 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Explore AS-level economics topics from economic methodology and the economic problem to the market mechanism, market failure and government intervention in markets<\/p>\n","protected":false},"author":3,"featured_media":12028,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[260,256],"tags":[405],"class_list":["post-11996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-levels-parents","category-a-levels-students","tag-as-level-economics"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/posts\/11996"}],"collection":[{"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=11996"}],"version-history":[{"count":2,"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/posts\/11996\/revisions"}],"predecessor-version":[{"id":12029,"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/posts\/11996\/revisions\/12029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/media\/12028"}],"wp:attachment":[{"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=11996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=11996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edumentors.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=11996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}