AS Level Economics 9708 lectures
17 short lectures, one for each part of the syllabus, in the order it is taught. Each one teaches a topic on the board in a few minutes. The teaching part is free to watch; a free account opens the rest of every lecture: worked examples, practice questions and real past-paper questions answered.
Chapter 1 Basic economic ideas and resource allocation
- Scarcity, opportunity cost, factors of production and enterpriseAt AS Level the basic ideas are the same as at O Level, but you must use them precisely and evaluate.4 min
- Production possibility curves, specialisation and the division of labourThe production possibility curve shows the limits of what an economy can produce.4 min
- Economic systems and types of goodsEvery economy answers what, how and for whom to produce.5 min
- Public goods, merit and demerit goods and information failureMarkets fail to provide some goods at all, and provide too little or too much of others.4 min
Chapter 2 The price system and the microeconomy
- Demand, supply and related goodsDemand and supply analysis is the core tool of AS microeconomics.4 min
- Equilibrium, the price mechanism and consumer and producer surplusMarkets move towards the price where demand equals supply.4 min
- Price elasticity of demand and total revenueFirms and governments need to know not just that demand falls when price rises, but by how much.4 min
- Income, cross and supply elasticitiesDemand responds not only to a good's own price, but to income and to the prices of other goods.4 min
Chapter 3 Government microeconomic intervention
- Reasons for intervention, indirect taxes and subsidiesMarkets fail in many ways, so governments intervene.4 min
- Maximum and minimum prices, buffer stocks, regulation and provisionBesides taxes and subsidies, governments can fix prices, store goods to stabilise prices, provide goods directly, regula4 min
- Measuring and addressing inequalityIn every economy, some people earn and own far more than others.4 min
Chapter 4 The macroeconomy
- The circular flow of income, aggregate demand and aggregate supplyMacroeconomics studies the whole economy: total output, the price level, employment.4 min
- Economic growth and unemploymentEconomic growth raises living standards; unemployment wastes resources and harms people.4 min
- Measuring inflation, its causes and consequences, and deflationInflation is a sustained rise in the general price level; deflation is a sustained fall.4 min
Chapter 5 Government macroeconomic intervention
Chapter 6 International economic issues
- International trade, comparative advantage, protectionism and the terms of tradeEven a country that can make everything more efficiently than another can gain from trade.4 min
- The current account, exchange rates and correcting imbalancesEvery payment between a country and the rest of the world is recorded in its balance of payments.4 min
Also for AS Level Economics 9708
Which topics come up most in AS Level Economics 9708 past papers, counted from every paper since 2004.