This Exam Preparation and Practice book is designed to increase your confidence, help you recognise different question types, understand connections between concepts, reflect on progress and manage test anxiety. A wealth of questions and activities improve your ability to recall knowledge and answer effectively. Your awareness and familiarity with exam language is increased by the focus on command words, time management, and the marks breakdown within and across exam papers. Self-assessment checklists and sample answers also help to deepen learning. Includes digital access and over 400 auto-marked questions and past-paper question practice. Any references or materials related to answers, grades, papers or examinations are based on the opinion of the author(s). The Cambridge International Education syllabus or curriculum framework associated assessment guidance material and specimen papers should always be referred to for definitive guidance.

Features

• A variety of case studies put theory into real-life contexts and give you the opportunity to apply your knowledge and skills.
• Build useful exam skills through active learning and focusing on questions rather than content summaries.
• Recognise effective learning techniques to become a critical thinker and apply your knowledge beyond the exam.
• Learn key command words, the variety of question types, how your time should be distributed throughout the exam paper, and how the marks breakdown within and across exam papers.
• ‘Reflection on progress’ opportunities and self-assessment checklists help you to process your own learning.
• ‘Knowledge recall’ questions help you consolidate your learning.
• Learn to recognise connections between concepts and present these connections clearly. The past paper question practice sections give you opportunities to draw your knowledge of several topics together.

CONTENTS

• How to use this series
• How to use this book
• Exam skills framework
• Introduction
• 1 Basic economic ideas and resource allocation (AS Level)
• 1 Scarcity, choice and opportunity cost
• 2 Economic methodology
• 3 Factors of production
• 4 Resource allocation in different economic systems
• 5 Production possibility curves
• 6 Classification of goods and services
• 2 The price system and the micro economy (AS Level)
• 7 Demand and supply curves
• 8 Price elasticity, income elasticity and cross-elasticities of demand
• 9 Price elasticity of supply
• 10 The interaction of demand and supply
• 11 Consumer and producer surplus
• 3 Government microeconomic intervention (AS Level)
• 12 Reasons for government interventions in markets
• 13 Methods and effects of government interventions in markets
• 14 Addressing income and wealth inequality
• 4 The macro economy (AS Level)
• 15 National income statistics
• 16 Introduction to the circular flow of income
• 17 Aggregate demand (AD) and aggregate supply (AS) analysis
• 18 Economic growth
• 19 Unemployment
• 20 Price stability
• 5 Government macroeconomic intervention (AS Level)
• 21 Government macroeconomic policy objectives
• 22 Fiscal policy
• 23 Monetary policy
• 24 Supply-side policy
• 6 International economic issues (AS Level)
• 25 The reasons for international trade
• 26 Protectionism
• 27 Current account of the balance of payments
• 28 Exchange rates
• 29 Policies to correct imbalances in the current account of the balance of payments
• 7 The price system and the micro economy (A Level)
• 30 Utility
• 31 Indifference curves and budget lines
• 32 Efficiency and market failure
• 33 Private costs and benefits, externalities and social costs and benefits
• 34 Types of cost, revenue and profit, short-run and long-run production
• 35 Different market structures
• 36 Growth and survival of firms
• 37 Differing objectives and policies of firms
• 8 Government microeconomic intervention (A Level)
• 38 Government policies to achieve efficient resource allocation and correct market failure
• 39 Equity and redistribution of income and wealth
• 40 Labour market forces and government intervention
• 9 The macro economy (A Level)
• 41 The circular flow of income
• 42 Economic growth and sustainability
• 43 Employment and unemployment
• 44 Money and banking
• 10 Government macroeconomic issues (A Level)
• 45 Government macroeconomic policy objectives
• 46 Links between macroeconomic problems and their interrelatedness
• 47 Effectiveness of policy options to meet all macroeconomic objectives
• 11 International economic issues (A Level)
• 48 Policies to correct disequilibrium in the balance of payments
• 49 Exchange rates
• 50 Economic development
• 51 Characteristics of countries at different levels of development
• 52 Relationship between countries at different levels of development
• 53 Globalisation
• Glossary
• Appendix
• Index