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EconAce

Paper 3

A Level levels

Units 7-11: the depth — utility and efficiency, market structures, labour markets, money and banking, development and globalisation.

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  1. 1

    Utility, Indifference Curves & Budget Lines

    Marginal and total utility, the equi-marginal principle, and income and substitution effects.

    7.17.2
  2. 2

    Efficiency, Market Failure & Externalities

    Locked

    Productive and allocative efficiency, Pareto optimality, and private, external and social costs and benefits.

    7.37.4
  3. 3

    Costs, Revenue & Production

    Locked

    Short-run and long-run production, returns to scale, and the full family of cost and revenue curves.

    7.5
  4. 4

    Market Structures

    Locked

    Perfect competition, monopoly, monopolistic competition, oligopoly, contestable markets and price discrimination.

    7.6
  5. 5

    Growth, Survival & Objectives of Firms

    Locked

    Internal and external growth, integration, why small firms survive, and alternatives to profit maximisation.

    7.77.8
  6. 6

    Efficient Allocation, Equity & Redistribution

    Locked

    Policies to correct market failure, plus poverty measurement and the redistribution of income and wealth.

    8.18.2
  7. 7

    Labour Market Forces & Intervention

    Locked

    Demand for and supply of labour, wage determination, trade unions, monopsony and minimum wages.

    8.3
  8. 8

    Circular Flow, Growth, Employment & Money

    Locked

    The multiplier and accelerator, sustainable growth, Keynesian and monetarist views, and money and banking.

    9.19.29.39.4
  9. 9

    Macro Objectives, Conflicts & Policy Effectiveness

    Locked

    How macroeconomic objectives interrelate and conflict, and how effective each policy option really is.

    10.110.210.3
  10. 10

    Balance of Payments, Development & Globalisation

    Locked

    Correcting external disequilibrium, exchange rate policy, economic development indicators and globalisation.

    11.111.211.311.411.511.6

Each level draws its questions at random from a larger pool, so no two attempts are the same. A level unlocks once you have attempted the one before it, and counts as complete once you score 80% or better.