Unit 1 Basic economic ideas

Class notes on the topic of Specialisation & Division of Labour. Includes definitions, and advantages & disadvantages in regards to workers, firms and nations.

Class notes on the topic of Money. Includes definitions and explanations regarding the types of money, functions of money and characteristics of money.

Class notes on the topic of Economies in Transition. Includes the problems with transitioning from a centrally planned economy to a market economy.

Class notes on the topic of Elasticity.

Class notes on the topic of Role of Enterprise. Explains the contributions of enterprise and division of labour to an economy.

Class notes on the topic of Positive & Normative Statements. Includes explanations on how to identify the different kinds of statements.

I have summarised all the content within the first unit of A levels economics. As a bonus I have also added additionally A grade answers for questions which will help you in developing your answers.

Lecture notes on Production Possibility Curve (PPC)

Use these revision flashcards to ensure you have all the important materials in your long term memory. It contains : - All As level Key terms - All As-level Graphs - All As level formulas - Guide on how to use the revision flashcards Hope this helps you , Good luck.