Revision slides
Kahoot
34 questions
edexcel theme 1
A-Level Economics (17 questions) - Theme 1 - 1 of 2
A-Level Economics (20 questions) - Theme 1 - 2 of 2
14 questions Edexcel Economics A Theme 1 Revision
30 questions Economics theme 1 Micro economics
Micro economics AQA
A-Level Economics (17 questions) - Theme 1 - 1 of 2
A-Level Economics (20 questions) - Theme 1 - 2 of 2
14 questions Edexcel Economics A Theme 1 Revision
30 questions Economics theme 1 Micro economics
Micro economics AQA
Theme 1: Introduction to markets and market failure
Overview
This theme is one of two in this qualification that focuses on microeconomics. This theme introduces students to the
microeconomic nature of economics, looking at economic problems and the ways economists think and work.
Content from Theme 1 will be assessed in Paper 1. Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies.
Content
In this theme, students will consider how markets work, looking at how supply and demand interact to allocate
resources in local, national and international markets. They will learn how to apply supply and demand analysis to
real-world situations and be able to offer explanations of consumer behaviour. This will involve looking at both how
consumers act in a rational way to maximise utility and how firms maximise profit, but also why consumers may not
behave rationally.
Having investigated how markets work, students will then look at market failure. They will look at the nature and
causes of market failure before considering the strengths and weaknesses of possible government intervention to
remedy market failures. This theme will provide a coherent coverage of microeconomic content with students drawing on local, national and global contexts.
Students are encouraged to use an enquiring, critical and thoughtful approach to the study of economics and to
develop an ability to think as an economist.
To develop their knowledge, skills and understanding in economics, students need to have acquired competence in
quantitative skills that are relevant to and applied in the context of this theme
Overview
This theme is one of two in this qualification that focuses on microeconomics. This theme introduces students to the
microeconomic nature of economics, looking at economic problems and the ways economists think and work.
Content from Theme 1 will be assessed in Paper 1. Students will need to apply their knowledge and understanding to both familiar and unfamiliar contexts in the assessments and demonstrate an awareness of current economic events and policies.
Content
In this theme, students will consider how markets work, looking at how supply and demand interact to allocate
resources in local, national and international markets. They will learn how to apply supply and demand analysis to
real-world situations and be able to offer explanations of consumer behaviour. This will involve looking at both how
consumers act in a rational way to maximise utility and how firms maximise profit, but also why consumers may not
behave rationally.
Having investigated how markets work, students will then look at market failure. They will look at the nature and
causes of market failure before considering the strengths and weaknesses of possible government intervention to
remedy market failures. This theme will provide a coherent coverage of microeconomic content with students drawing on local, national and global contexts.
Students are encouraged to use an enquiring, critical and thoughtful approach to the study of economics and to
develop an ability to think as an economist.
To develop their knowledge, skills and understanding in economics, students need to have acquired competence in
quantitative skills that are relevant to and applied in the context of this theme