Edexcel economics a notes Study guides, Revision notes & Summaries

Summary Edexcel A-Level Economics revision notes 1.1 Scarcity, choice and potential conflicts 1.1.1 The Economic Problem The problem of scarcity is when there are finite resources but unlimited demand. This means that choices have to be made and resources have to be distributed and used optimally. Scarcity – The shortage of resources in relation to the quantity of human wants. – Insufficient resources to supply everyone’s needs and wants. Scarcity causes opportunity cost. ...

These notes include all the topics you need to know for paper 2 Edexcel Economics A. It covers theme 2 and 4. For every topic it includes the diagrams, definitions of key concept and explanations. You can use these notes for your revision for exam in May as it covers everything.

Summary Edexcel A-Level Economics revision notes 1.1 Scarcity, choice and potential conflicts 1.1.1 The Economic Problem The problem of scarcity is when there are finite resources but unlimited demand. This means that choices have to be made and resources have to be distributed and used optimally. Scarcity – The shortage of resources in relation to the quantity of human wants. – Insufficient resources to supply everyone’s needs and wants. Scarcity causes opportunity cost. ...

Summary Edexcel A-Level Economics revision notes 1.1 Scarcity, choice and potential conflicts 1.1.1 The Economic Problem The problem of scarcity is when there are finite resources but unlimited demand. This means that choices have to be made and resources have to be distributed and used optimally. Scarcity – The shortage of resources in relation to the quantity of human wants. – Insufficient resources to supply everyone’s needs and wants. Scarcity causes opportunity cost. ...

Summary International A level Edexcel Economics Unit 1 Notes TOPIC 1 – INTRODUCTORY CONCEPTS What is economics? • Economics is the concerned with the ways by which societies organise scarce resources in order to satisfy wants. Economics as a social science • Economics is a social science which concerns the study of human behaviour • As a result, economists cannot conduct scientific laboratory experiments like in natural sciences • They typically examine what has already occu...

Summary International A level Edexcel Economics Unit 1 Notes TOPIC 1 – INTRODUCTORY CONCEPTS What is economics? • Economics is the concerned with the ways by which societies organise scarce resources in order to satisfy wants. Economics as a social science • Economics is a social science which concerns the study of human behaviour • As a result, economists cannot conduct scientific laboratory experiments like in natural sciences • They typically examine what has already occu...

Edexcel economics igcse micro notes 1. Economic Problems 1. What is economics? A social science studies the behavior of individual organization/the-entire economy. 2. Why do we study economics? Because there is a basic economic problem which has risen due to the scarcity of resources. 3. Define the following: • Wants: people’s desire towards good/service • Need: basic requirements needed for human survival • Scarcity: When we are unable to fulfill our unlimited wants from ...

This document is a revision document covering all the content for economics edexcel a level 3.5 labour markets. A* analysis and evaluation. get your grades up, content may also be useful for other exam boards apart from Edexcel A.