OCR • Economics

Evaluate the usefulness/ significance of PED/YED/XED/PES

Evaluate the extent to which the price of food is likely to rise by more than the price of air travel

Evaluate the effect o an increase in energy price on the producer surplus on energy supply firms Evaluate the impact of a price ceiling may have on the levels of so summer surplus in a market Evaluate the consequences on consumer and producer surplus as a result of a fall in prices

Evaluate the role of specialisation and division of labour at addressing the basic economic problem

Essay plans Evaluate whether the free market system is the most effective Evaluate the effectiveness of incentives in the behaviour of economic agents

evaluate how the problem of scarcity can be used to explain the requirement to make choices between economic and free goods

Economics is the study of scarcity and its implications I will help you in this. Everything about economics is here.

This document gives an introduction to macroeconomics in a level economics and studies the AD/AS model that is commonly used throughout the course.

Clear, comprehensive notes expressing the relevant information to help you succeed in A-Level economics.

A summary of PES (price elasticity of supply)