{"title":"A Level Economics","description":"","products":[{"product_id":"economics-as-level-p-1-mcqs-topical-worked-solutions","title":"151 Economics AS Level Paper 1 (MCQ's) Topical Worked Solutions","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eEconomics AS Level Paper 1 (MCQ's)\u003c\/h2\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eUNIT-1 BASIC ECONOMIC IDEAS\u003c\/strong\u003e\u003cbr\u003eKey Unit 1 Basic Economic Ideas\u003cbr\u003e\u003cstrong\u003eUNIT-2 DEMAND, SUPPLY \u0026amp; EQUILIBRIUM\u003c\/strong\u003e\u003cbr\u003eKey Unit 2 Demand, Supply \u0026amp; Equilibrium\u003cbr\u003e\u003cstrong\u003eUNIT-3 ELASTICITY\u003c\/strong\u003e\u003cbr\u003eKey Unit 3 Elasticity\u003cbr\u003e\u003cstrong\u003eUNIT-4 MARKET FAILURE\u003c\/strong\u003e\u003cbr\u003eKey Unit 4 Market Failure\u003cbr\u003e\u003cstrong\u003eUNIT-5 AD \u0026amp; AS\u003c\/strong\u003e\u003cbr\u003eKey Unit 5 AD \u0026amp; AS\n\u003cp\u003e\u003ca href=\"https:\/\/readnwrite.org\/product\/economics-o-level-p-1-mcqs-topical-worked-solutions\/\"\u003e\u003cstrong\u003eEconomics AS Level Paper\u003c\/strong\u003e\u003c\/a\u003e 1 (MCQ's)\u003cbr\u003e\u003cstrong\u003eUNIT-6 MONEY, INFLATION, LABOUR \u0026amp; UNEMPLOYMENT\u003c\/strong\u003e\u003cbr\u003eKey Unit 6 Money, Inflation, Labour \u0026amp; Unemployment\u003cbr\u003e\u003cstrong\u003eUNIT-7 INTERNATIONAL TRADE\u003c\/strong\u003e\u003cbr\u003eKey Unit 7 International Trade\u003cbr\u003e\u003cstrong\u003eUNIT-8 EXCHANGE RATE\u003c\/strong\u003e\u003cbr\u003eKey Unit 8 Exchange Rate\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT-9 BALANCE OF PAYMENTS\u003c\/strong\u003e\u003cbr\u003eKey Unit 9 Balance Of Payments\u003cbr\u003e\u003cstrong\u003eYEARLY PAST PAPERS\u003c\/strong\u003e ………………-ONWARDS\u003cbr\u003e\u003cstrong\u003eKEY ALL YEARS\u003c\/strong\u003e\u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477110517,"sku":"SKU-13","price":2160.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/151.png?v=1773749517"},{"product_id":"economics-a-level-p-3-topical-solved","title":"153 Economics A Level Topical Solved Paper 3","description":"\u003cp\u003eThis book provides a thorough exercise of paper 3 for students taking Cambridge International\u003c\/p\u003e\n\u003cp\u003eExaminations Economics A Level Topical Solved Paper. Multiple Choice Questions from past examinations are sorted into relevant chapters and topics which will enable students to practice their understanding systematically.\u003cbr\u003e\u003c\/p\u003e\u003ch3\u003e\u003c\/h3\u003e\u003cbr\u003e\u003ch3\u003e153 Economics A Level Topical Solved Paper 3\u003c\/h3\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003e \t\u003cli\u003eAll variants included\u003c\/li\u003e\n\u003cbr\u003e \t\u003cli\u003eAnswers with detailed explanations\u003c\/li\u003e\n\u003cbr\u003e \t\u003cli\u003eReferences of repeated questions included\u003c\/li\u003e\n\u003cbr\u003e \t\u003cli\u003eQuestions order new to old\u003c\/li\u003e\n\u003cbr\u003e \t\u003cli\u003eAccording to new Syllabus\u003c\/li\u003e\n\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003ch3\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003c\/h3\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 1 THEORY OF CONSUMER BEHAVIOR\u003c\/strong\u003e\u003cbr\u003e1.1 (a) LDMU-Meaning\u003cbr\u003e1.1 (b) LDMU-Diagram\u003cbr\u003e1.1 (c) LDMU-Numericals\u003cbr\u003e1.1 (d) LEMU-Meaning\u003cbr\u003e1.1 (e) LEMU-Numericals\u003cbr\u003e1.2 (a) Budget Line\u003cbr\u003e1.2 (b) Indifference curves\u003cbr\u003e1.2 (c) Changes in consumer equilibrium\u003cbr\u003e1.2 (d) Types of goods\u003cbr\u003e1.3 Others\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003cbr\u003eUNIT 2 PRODUCTION \u0026amp; COST\u003c\/strong\u003e\u003cbr\u003e2.1 (a) LDR-Meaning\u003cbr\u003e2.1 (b) LDR-Diagrams\u003cbr\u003e2.1 (c) LDR-Numericals\u003cbr\u003e2.2 (a) Accounting cost and economic cost\u003cbr\u003e2.2 (b) SR Costs-Meaning and definitions\u003cbr\u003e2.2 (c) SR Costs-Numericals\u003cbr\u003e2.2 (d) SR Costs-Relationship between curves\u003cbr\u003e2.3 Relationship between short-run cost and LDR\u003cbr\u003e2.4 (a) Long run production function\u003cbr\u003e2.4 (b) Least-cost inputs mix\u003cbr\u003e2.4 (c) Isocost and isoquant approach\u003cbr\u003e2.4 (d) Returns to scale\u003cbr\u003e2.5 (a) Internal economies and dis economies of scale\u003cbr\u003e2.5 (b) LRAC and minimum efficient scale\u003cbr\u003e2.6 (a) External economies and dis economies of scale\u003cbr\u003e2.7 Small firms\u003cbr\u003e2.8 (a) Internal growth\u003cbr\u003e2.8 (b) External growth\u003cbr\u003e2.9 Others\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003cbr\u003eUNIT 3 MARKET STRUCTURE PART 1\u003c\/strong\u003e\u003cbr\u003e3.1 Prince marker behavior and revenue curves\u003cbr\u003e3.2 (a) Profit maximization rule-Diagrams\u003cbr\u003e3.2 (b) Profit maximization rule-Numericals\u003cbr\u003e3.3 Short run prince and output determination\u003cbr\u003e3.4 Long run prince and output determination\u003cbr\u003e3.5 Survival of a firm in short-run and long-run\u003cbr\u003e3.6 Theory of excess capacity\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 4 MARKET STRUCTURE PART 2 \u003c\/strong\u003e\u003cbr\u003e4.1 Features of oligopoly\u003cbr\u003e4.2 Kinked demand curve\u003cbr\u003e4.3 Game theory\u003cbr\u003e4.4 Price collusion\u003cbr\u003e4.5 Determinants of strength of collusion\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 5 MARKET STRUCTURE PART 3\u003c\/strong\u003e\u003cbr\u003e5.1 (a) Revenue maximization\u003cbr\u003e5.1 (b) Coincidence of profit and revenue maximization\u003cbr\u003e5.1 (c) MC pricing and other government interventions in markets\u003cbr\u003e5.1 (d) Other objectives\u003cbr\u003e5.1 (e) Principle-agent problem\u003cbr\u003e5.2 (a) Price discrimination-Meaning\u003cbr\u003e5.2 (b) Price discrimination-Conditions\u003cbr\u003e5.2 (c) Price discrimination-Consequences\u003cbr\u003e5.3 Barriers to entry and exit\u003cbr\u003e5.4 Comparison of market structures\u003cbr\u003e5.5 Contestable markets\u003cbr\u003e5.6 Advantages and disadvantages of monopoly\u003cbr\u003e5.7 others\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 6 ECONOMIC EFFICIENCY\u003c\/strong\u003e\u003cbr\u003e6.1 (a) Technical efficiency and X-Efficiency\u003cbr\u003e6.1 (b) Dynamic efficiency\u003cbr\u003e6.2 Allocative efficiency\u003cbr\u003e6.3 PPC and economic efficiency\u003cbr\u003e6.4 Pareto optimality\u003cbr\u003e6.5 Economic efficiency vs equity\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 7 MARKET FAILURE\u003c\/strong\u003e\u003cbr\u003e7.1 Causes of market failure\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003cbr\u003e\u003cb\u003e\u003cbr\u003eUNIT 8 GOVERNMENT MICROECONOMICS INTERVENTION\u003c\/b\u003e\u003cbr\u003e8.1 Government policies to correct market failure\u003cbr\u003e8.2 Government failure\u003cbr\u003e8.3 Cost benefit analysis (CBA)\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003cbr\u003eUNIT 9 LABOUR MARKET\u003cbr\u003e\u003c\/strong\u003e9.1 (a) Supply curve for an individual worker\u003cbr\u003e9.1 (b) The market supply curve for labor\u003cbr\u003e9.1 (c) Marginal cost of labor-Numericals\u003cbr\u003e9.2 MRP Theory\u003cbr\u003e9.3 (a) Wage determination in perfect market-Numericals\u003cbr\u003e9.3 (b) Wage determination in perfect market-Diagrams\u003cbr\u003e9.4 (a) Wage determination in monopsony\u003cbr\u003e9.4 (b) Wage determination with trade union\u003cbr\u003e9.4 (c) Strength of trade union\u003cbr\u003e9.5 Wage differentials\u003cbr\u003e9.6 Transfer earnings and economic rent\u003cbr\u003e9.7 National minimum wage\u003cbr\u003e9.8 Others\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 10 GLOBALIZATION\u003c\/strong\u003e\u003cbr\u003e10.1 Consequences of formation of trading blocs\u003cbr\u003e10.2 Others\u003cbr\u003e\u003cstrong\u003e ANSWER SECTION\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003e\u003cbr\u003eUNIT 11 BALANCE OF PAYMENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 12 EXCHANGE RATE\u003c\/strong\u003e\u003cbr\u003e12.1 Trade weighted exchange rate\u003cbr\u003e12.2 Exchange rate systems\u003cbr\u003e12.3 (a) Effects of exchange rate changes\u003cbr\u003e12.3 (b) Marshal learner condition and J curve\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cb\u003eUNIT 13 AGGREGATE EXPENDITURE \u0026amp; MULTIPLIER\u003c\/b\u003e\u003cbr\u003e13.1 Components of aggregate expenditure\u003cbr\u003e13.2 Changes in marginal and average propensities\u003cbr\u003e13.3 NIE-Numericals\u003cbr\u003e13.4 Inflationary\/Deflationary gaps\u003cbr\u003e13.5 (a) Multiplier-Meaning\u003cbr\u003e13.5 (b) Multiplier-Diagrams\u003cbr\u003e13.5 (c) Multiplier-Numericals Level 1\u003cbr\u003e13.5 (d) Multiplier-Numericals Level 2\u003cbr\u003e13.5 (e) Multiplier-Strength\u003cbr\u003e13.6 Accelerator-Meaning\u003cbr\u003e13.7 Others\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 14 MONEY, BANKING AND INTEREST RATE DETERMINATION\u003c\/strong\u003e\u003cbr\u003e14.1 (a) Features and functions of money\u003cbr\u003e14.1 (b) Money supply\u003cbr\u003e14.2 Types of banks\u003cbr\u003e14.3 Credit creation-process and functions\u003cbr\u003e14.4 Changes in money supply\u003cbr\u003e14.5 Liquidity preference theory (LPT)\u003cbr\u003e14.6 Determination of interest rate\u003cbr\u003e14.7 Quantity theory of money (QTM)\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cb\u003eUNIT 15 EFFECTIVENESS OF MACROECONOMIC POLICIES\u003c\/b\u003e\u003cbr\u003e15.1 Effectiveness of macroeconomic policies\u003cbr\u003e15.2 Policies to correct current account surplus and defict\u003cbr\u003e15.3 Policies to reduce unemployment\u003cbr\u003e15.4 Policies to encourage economic growth\u003cbr\u003e15.5 The role of automatic stabilisers\u003cbr\u003e15.6 Laffer curve\u003cbr\u003e15.7 Tax systems\u003cbr\u003e15.8 Others\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 16 MACROECONOMIC OBJECTIVES\u003c\/strong\u003e\u003cbr\u003e16.1 Government economic objectives\u003cbr\u003e16.2 Links between macroeconomic problems and conflicts of aims\u003cbr\u003e16.3 Keynesian and monetarist theoretical approaches\u003cbr\u003e16.4 Others\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 17 EMPLOYMENT \/ UNEMPLOYMENT\u003c\/strong\u003e\u003cbr\u003e17.1 Unemployment\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cb\u003eUNIT 18 ECONOMIC GROWTH \u0026amp; SUSTAINABILITY \u003c\/b\u003e\u003cbr\u003e18.1 Actual and potential growth\u003cbr\u003e18.2 Causes of economic growth\u003cbr\u003e18.3 Costs and benefits of growth\u003cbr\u003e18.4 Inclusive and sustainable growth\u003cbr\u003e18.5 Output gaps\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 19 INCOME DISTRIBUTION \u003c\/strong\u003e\u003cbr\u003e19.1 (a) Lorenz curve\u003cbr\u003e19.1 (b) Gini coefficients\u003cbr\u003e19.2 policies to redistribute income\u003cbr\u003e\u003cstrong\u003eAnswer Section\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 20 ECONOMIC DEVELOPMENT PART 1 \u003c\/strong\u003e\u003cbr\u003e20.1 Living standards\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 21 ECONOMIC DEVELOPMENT PART 2 (DEVELOPMENT VS DEVELOPED)\u003c\/strong\u003e\u003cbr\u003e21.1 Population structure\u003cbr\u003e21.2 Economic structure\u003cbr\u003e21.3 Kuznets curve\u003cbr\u003e21.4 Poverty trap\u003cbr\u003e21.5 Other difference developing and developed countries\u003cbr\u003e\u003cstrong\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 22 ECONOMIC DEVELOPMENT PART 3 (RELATIONSHIP BETWEEN COUNTRIES)\u003cbr\u003eANSWER SECTION\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eUNIT 23 UNSORTED\u003cbr\u003eANSWER SECTION\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477143285,"sku":"SKU-14","price":2750.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/153.jpg?v=1765551003"},{"product_id":"macro-economics-book-2-as-level-notes","title":"158 Macro Economics AS Level Revision Notes Series Book 2 by Imran Latif","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eMacro Economics AS Level Revision Notes Series Book 2\u003c\/h2\u003e\u003cbr\u003eThe idea of writing notes for Cambridge A-level Micro Economics Notes came to me in 2003, when, having already taught for a year, I realized that no single economics book available in the local and international markets covered all the topics with the depth and perspective required by the CIE syllabus.\n\u003cp\u003eBoth students and teachers had to consult 3 to 4 different books to find all the material that they needed—private candidates and 00 teachers had it even worse. Furthermore, it was really difficult for students to keep having to refer through different books when the exams were close and they were starved for time.\u003c\/p\u003e\n\u003cp\u003eI took on the challenge and decided to write a comprehensive text that explicitly followed the syllabus and exam pattern of the CIE.\u003cbr\u003e\u003c\/p\u003e\u003ch3\u003eMacro Economics Notes\u003c\/h3\u003e\u003cbr\u003eA year and a half later, in the middle of 2004, I had finally written and published four entire volumes of A level \u003ca href=\"https:\/\/readnwrite.org\/product\/micro-economics-book-1-as-level-notes\/\"\u003e\u003cstrong\u003eeconomics notes\u003c\/strong\u003e\u003c\/a\u003e. Part of them had been hand-written, and part of them had been typed. Soon, word of their usefulness spread, and they were bought all over Pakistan.\n\u003cp\u003eThe notes had served their purpose well till the end of 2014. Till that point, there had only been minor changes in the syllabus. But now, there was a dire need to update them, for the new syllabus for the 2019 examination introduced some significant changes in course content.\u003c\/p\u003e\n\u003cp\u003eIn this new and improved edition, old topics have been revised and new topics have been added. At the end of each topic there is a relevant list of essay questions spanning from 1990 to 2019.\u003c\/p\u003e\n\u003cp\u003eThese questions provide a clear guideline regarding how the examiners assess students' knowledge on the \u003ca href=\"https:\/\/readnwrite.org\/product\/economics-o-level-p-2-topical\/\"\u003e\u003cstrong\u003etopics for Paper\u003c\/strong\u003e\u003c\/a\u003e 2 and Paper 4, allowing the student to practice effectively.\u003c\/p\u003e\n\u003cp\u003eWhile writing these notes I kept in mind the way in which the examiner tests MCQs as well. The notes have been divided into four volumes to make it easier for those who are following the AS and A2 track separately and for those who are taking the composite exam; the syllabus division in the following pages has been provided for this express purpose. I hope my efforts will help to contribute both to the learning of the student, as well as to the inquisitiveness of any teachers of A-level economics. Your suggestions will help me improve the quality of the content for later editions and will be highly appreciated.\u003c\/p\u003e\n\u003cp\u003e\u003ca href=\"https:\/\/readnwrite.org\/product\/article-no-142-economics-o-level-paper-2-topical-past-papers-by-imran-latif\/\"\u003e\u003cstrong\u003eImran Latif\u003c\/strong\u003e\u003c\/a\u003e\u003c\/p\u003e\n\u003cp\u003eFollowing Topics are covered in this book\u003cbr\u003e\u003c\/p\u003e\u003ch3\u003eMacro Economics Notes\u003c\/h3\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 1 AGGREGATE DEMAND (AD) AND AGGREGATE SUPPLY (AS)\u003c\/strong\u003e\u003cbr\u003eCONCEPTS OF NATIONAL INCOME\u003cbr\u003eSECTORS AND TYPES OF ECONOMIES:\u003cbr\u003eAGGREGATE DEMAND (AD):\u003cbr\u003eWhy does the AD curve slope downward?\u003cbr\u003eChanges in Aggregate Demand\u003cbr\u003eAGGREGATE SUPPLY (AS)\u003cbr\u003eThe short-run aggregate supply curve\u003cbr\u003eThe shape of the long-run aggregate supply curve\u003cbr\u003eINTERACTION OF AGGREGATE DEMAND AND AGGREGATE SUPPLY AND NATIONAL INCOME EQUILIBRIUM\u003cbr\u003eCHANGES IN NATIONAL INCOME EQUILIBRIUM\u003cbr\u003eBUSINESS (TRADE) CYCLE\n\u003cp\u003e\u003cstrong\u003eUNIT 2 MONEY AND INFLATION\u003c\/strong\u003e\u003cbr\u003eMONEY\u003cbr\u003eHistory of specialization, trade, and money\u003cbr\u003eConcepts\u003cbr\u003eFeatures of money\u003cbr\u003eFunctions of money:\u003cbr\u003eINFLATION\u003cbr\u003eMEASUREMENT OF INFLATION \/ VALUE OF MONEY \/ COST OF LIVING\u003cbr\u003eTHE CAUSES OF INFLATION\u003cbr\u003eDemand-pull Inflation\u003cbr\u003eCost-push Inflation\u003cbr\u003eTHE CONSEQUENCES OF INFLATION\u003cbr\u003eCosts:\u003cbr\u003eBenefits\u003cbr\u003eCAUSES AND CONSEQUENCES OF DEFLATION\u003cbr\u003ePAST PAPER QUESTIONS\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 3 INTERNATIONAL TRADE\u003c\/strong\u003e\u003cbr\u003eDOMESTIC AND INTERNATIONAL TRADE\u003cbr\u003eTHEORIES OF INTERNATIONAL TRADE:\u003cbr\u003eTheory of absolute advantage\u003cbr\u003eTheory of Comparative advantage\u003cbr\u003eMutually beneficial rate of exchange:\u003cbr\u003eTrading possibility curve (TPC):\u003cbr\u003eLIMITATIONS OF ABSOLUTE AND COMPARATIVE ADVANTAGE THEORY:\u003cbr\u003ePROTECTIONISM\u003cbr\u003eMethods of protection and their impact\u003cbr\u003eEffectiveness of protectionism:\u003cbr\u003eTHE ARGUMENTS IN FAVOR OF FREE TRADE AND AGAINST PROTECTIONISM\u003cbr\u003eTHE ARGUMENTS IN FAVOR OF PROTECTIONISM AND AGAINST FREE TRADE\u003cbr\u003eTRADE BLOCS OR INTERNATIONAL ECONOMIC INTEGRATION\u003cbr\u003eCONSEQUENCES OF FORMATION OF TRADING BLOCS:\u003cbr\u003e1 creation (Micro Economics Notes)\u003cbr\u003e2 diversion\u003cbr\u003ePAST PAPERS QUESTION\u003cbr\u003e4 Micro Economics Notes\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 4 EXCHANGE RATE\u003c\/strong\u003e\u003cbr\u003eDEFINITIONS AND MEASUREMENT OF EXCHANGE RATES\u003cbr\u003eEXCHANGE RATE SYSTEMS\u003cbr\u003eFree Floating Exchange Rate System\u003cbr\u003eFixed Exchange Rate System\u003cbr\u003eCAUSES OF EXCHANGE RATE DEPRECIATION\u003cbr\u003eCAUSES OF EXCHANGE RATE APPRECIATION\u003cbr\u003eEFFECTS OF DEPRECIATION\/DEVALUATION\u003cbr\u003eEFFECTS OF APPRECIATION\/REVALUATION\u003cbr\u003eADVANTAGES AND DISADVANTAGES OF EXCHANGE RATE SYSTEMS:\u003cbr\u003eManaged floating system\u003cbr\u003eTHE TERMS OF TRADE\u003cbr\u003eMovements in Terms of Trade\u003cbr\u003eThe Impact of changes in the terms of trade\u003cbr\u003ePAST PAPER QUESTIONS\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 5 BALANCE OF PAYMENTS\u003c\/strong\u003e\u003cbr\u003eCOMPONENTS OF THE BALANCE OF PAYMENTS\u003cbr\u003eBALANCE OF PAYMENT DISEQUILIBRIUM\u003cbr\u003eCAUSES OF BALANCE OF PAYMENT DISEQUILIBRIUM\u003cbr\u003eCONSEQUENCES OF A CURRENT ACCOUNT DEFICIT AND A CURRENT ACCOUNT SURPLUS\u003cbr\u003eConsequences of current account deficit:\u003cbr\u003eConsequences of current account surplus:\u003cbr\u003ePAST PAPER QUESTIONS\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 6 GOVERNMENT INTERVENTION IN A MACRO-ECONOMY\u003c\/strong\u003e\u003cbr\u003eMACROECONOMIC POLICIES:\u003cbr\u003e1 policy\u003cbr\u003e2 policy\u003cbr\u003e3-side policy\u003cbr\u003ePOLICIES TO CORRECT CURRENT ACCOUNT DEFICIT\u003cbr\u003e1-switching policies:\u003cbr\u003e2-dampening policies:\u003cbr\u003ePOLICIES TO REDUCE CURRENT ACCOUNT SURPLUS:\u003cbr\u003ePOLICIES TO CORRECT DEMAND-PULL INFLATION\u003cbr\u003ePOLICIES TO CORRECT COST-PUSH INFLATION\u003cbr\u003ePOLICIES TO CORRECT DEFLATION AND THEIR EFFECTIVENESS\u003cbr\u003ePAST PAPER QUESTIONS\u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477208821,"sku":"SKU-16","price":790.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/158-2.png?v=1765551080"},{"product_id":"micro-economics-book-3-a2-level-notes","title":"159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eMicro Economics As Level Revision Notes Series Book 3\u003c\/h2\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 1 THEORY OF CONSUMER BEHAVIOUR\u003c\/strong\u003e\u003cbr\u003eCARDINAL APPROACH\u003cbr\u003eLaw of Diminishing Marginal Utility:\u003cbr\u003eLaw of Equi-marginal Utility\u003cbr\u003eORDINAL APPROACH:\u003cbr\u003eBudget line\u003cbr\u003eIndifference Curves\u003cbr\u003eConsumer Equilibrium through the Ordinal Approach:\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 2 PRODUCTION AND COST\u003c\/strong\u003e\u003cbr\u003eTHE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS):\u003cbr\u003eLEAST-COST INPUTS COMBINATION IN THE LONG RUN:\u003cbr\u003eISOCOST AND ISOQUANT APPROACH:\u003cbr\u003eSCALE OF PRODUCTION AND RETURNS TO SCALE:\u003cbr\u003eSHORT-RUN COSTS:\u003cbr\u003eRELATIONSHIP BETWEEN SHORT-RUN COSTS \u0026amp; LAW OF DIMINISHING RETURNS\u003cbr\u003eECONOMIES AND DISECONOMIES OF SCALE:\u003cbr\u003eSMALL FIRMS:\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 3 RULES OF FIRM'S BEHAVIOUR\u003c\/strong\u003e\u003cbr\u003e1 ECONOMIC THEORY OF PROFIT MAXIMIZATION\u003cbr\u003e2 BUSINESS CONTINUITY RULES\u003cbr\u003e3 TYPES OF PROFITS\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 4 PERFECT COMPETITION\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN SHORT RUN\u003cbr\u003eSHORT-RUN PRICE AND OUTPUT DETERMINATION:\u003cbr\u003eTypes and Determination of Profit\u003cbr\u003eThe Shutdown case of a perfectly competitive firm\u003cbr\u003eDerivation of the supply curve of a perfectly competitive industry in the short run\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN LONG RUN\u003cbr\u003eIS PERFECT COMPETITION A REALISTIC MODEL?\u003cbr\u003e\u003cstrong\u003eUNIT 5 MONOPOLY\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN SHORT RUN\u003cbr\u003eTypes of profits:(Micro Economics As Level book 3)\u003cbr\u003eTypes of losses\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN LONG RUN\u003cbr\u003eBARRIERS TO ENTRY\u003cbr\u003e\u003cstrong\u003eUNIT 6 MONOPOLISTIC COMPETITION\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN SHORT RUN\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN LONG RUN\u003cbr\u003e\u003cstrong\u003eUNIT 7 OLIGOPOLY\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN OLIGOPOLY\u003cbr\u003eKinked Demand Curve\u003cbr\u003ePrice Leadership\u003cbr\u003eCartel:\u003cbr\u003eGame Theory\u003cbr\u003eMERGER AND INTEGRATION (MCQS ONLY)\u003cbr\u003e\u003cstrong\u003eUNIT 8 COMPARISON OF MARKET STRUCTURES\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 9 OBJECTIVES, DISCRIMINATION,\u0026amp; CONTESTABILITY\u003c\/strong\u003e\u003cbr\u003eOBJECTIVES OF FIRMS\u003cbr\u003ePRICE DISCRIMINATION\u003cbr\u003eCONTESTABLE MARKETS\u003cbr\u003eTHEORY OF EXCESS CAPACITY\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 10 ECONOMIC EFFICIENCY AND MARKET FAILURE\u003c\/strong\u003e\u003cbr\u003ePRODUCTIVE EFFICIENCY (PE)\u003cbr\u003eALLOCATIVE EFFICIENCY (AE)\u003cbr\u003eMARKET FAILURE:\u003cbr\u003e1-allocation of resources:\u003cbr\u003e2-allocation of resources:\u003cbr\u003e3 Markets of Public Goods:\u003cbr\u003e4 knowledge\u003cbr\u003e5 immobility\u003cbr\u003e6 termism\n\u003cp\u003e(\u003ca href=\"https:\/\/readnwrite.org\/product\/micro-economics-book-1-as-level-notes\/\"\u003e\u003cstrong\u003eMicro Economics As Level book\u003c\/strong\u003e\u003c\/a\u003e 3)\u003cbr\u003eGOVERNMENT MICROECONOMIC OBJECTIVES:\u003cbr\u003ePOLICIES TO CORRECT MARKET FAILURE OF NEGATIVE EXTERNALITIES AND DEMERIT GOODS\u003cbr\u003e1 Taxes\u003cbr\u003e2 and Regulation\u003cbr\u003e3 bodies\u003cbr\u003e4 in property rights\u003cbr\u003e5 of Information\u003cbr\u003e6 Permits\u003cbr\u003ePOLICIES TO CORRECT MARKET FAILURE OF POSITIVE EXTERNALITIES AND MERIT GOODS\u003cbr\u003e1\u003cbr\u003e2 and Regulation\u003cbr\u003e3 of Information\u003cbr\u003e4 Direct Provision of Goods and Services\u003cbr\u003ePOLICIES TO CORRECT MARKET FAILURE OF PUBLIC GOODS\u003cbr\u003ePOLICIES TO CORRECT THE MARKET FAILURE OF IMPERFECT MARKETS\u003cbr\u003eCOST-BENEFIT ANALYSIS (CBA):\u003cbr\u003eARE MONOPOLIES ALWAYS BAD FOR CONSUMERS?\u003cbr\u003e\u003ca href=\"https:\/\/readnwrite.org\/product\/business-a-level-paper-3-topical-past-paper\/\"\u003e\u003cstrong\u003ePAST PAPERS\u003c\/strong\u003e\u003c\/a\u003e QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 11 LABOUR MARKET\u003c\/strong\u003e\u003cbr\u003eTHE SUPPLY CURVE\u003cbr\u003e1 Curve for an Individual Worker\u003cbr\u003e2 Market Supply Curve for Labour\u003cbr\u003e3 of Labour for a Perfectly Competitive Firm:\u003cbr\u003e4 of Labour in a Monopsony\u003cbr\u003e5 of labour with a Trade Union:\u003cbr\u003eDEMAND FOR LABOUR OR MARGINAL REVENUE PRODUCT (MRP) THEORY:\u003cbr\u003eWAGE DETERMINATION IN PERFECT MARKET\u003cbr\u003eMONOPSONY\u003cbr\u003eTRADE UNION\u003cbr\u003eWAGE DIFFERENTIALS\u003cbr\u003eTRANSFER EARNINGS\u0026amp; ECONOMIC RENT\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 12 INEQUALITY AND POLICIES TO REDISTRIBUTE INCOME\u003c\/strong\u003e\u003cbr\u003eMEASURING INEQUALITY\u003cbr\u003e1 curve\u003cbr\u003e2 coefficient\u003cbr\u003e3 curve\u003cbr\u003e\u003cstrong\u003eGOVERNMENT POLICIES TO REDISTRIBUTE INCOME AND WEALTH\u003c\/strong\u003e\u003cbr\u003e1 benefits (transfer payments)\u003cbr\u003e2 the tax system\u003cbr\u003e3 policies\u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477241589,"sku":"SKU-17","price":870.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/159_0cd4b5a1-c72c-40bb-9cb5-d5c3102fc64b.jpg?v=1772871748"},{"product_id":"macro-economics-book-4-a-level-notes","title":"160 Macro Economics A Level Revision Notes Series Book 4 by Imran Latif","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eMacro Economics A level Revision Notes Series Book 4\u003c\/h2\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003ePREFACE \u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eREFERENCES \u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eA-LEVEL ECONOMICS 9708 SYLLABUS OVERVIEW (2016-18)\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 1 NATIONAL INCOME ACCOUNTING\u003c\/strong\u003e\u003cbr\u003eNATIONAL INCOME CONCEPTS\u003cbr\u003eMETHODS OF CALCULATING NATIONAL INCOME\u003cbr\u003ePROBLEMS IN CALCULATING NATIONAL INCOME:-\u003cbr\u003eUSES OF NATIONAL INCOME STATISTICS\u003cbr\u003eNATIONAL DEBT\u003cbr\u003eBUSINESS (TRADE) CYCLE\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 2 ECONOMIC GROWTH AND DEVELOPMENT\u003c\/strong\u003e\u003cbr\u003eCOMPARISON OF ACTUAL AND POTENTIAL GROWTH\u003cbr\u003eCOSTS AND BENEFITS OF GROWTH, INCLUDING USING AND CONSERVING RESOURCES:\u003cbr\u003eUSING AND CONSERVING RESOURCES\u003cbr\u003eNATIONAL INCOME STATISTICS AND STANDARD OF LIVING\u003cbr\u003eECONOMIC DEVELOPMENT\u003cbr\u003eCLASSIFICATION OF COUNTRIES:\u003cbr\u003ePOLICY APPROACHES FOR ECONOMIC DEVELOPMENT\u003cbr\u003eTHE ROLE OF THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK\u003cbr\u003ePROBLEMS EXISTING IN DEVELOPED COUNTRIES:\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 3 KEYNESIAN THEORY OF INCOME AND EMPLOYMENT\u003c\/strong\u003e\u003cbr\u003eSECTORS AND TYPES OF ECONOMIES:\u003cbr\u003eCIRCULAR FLOW OF INCOME\u003cbr\u003eFROM ACTUAL TO DESIRED EXPENDITURE\u003cbr\u003e1 FUNCTION:\u003cbr\u003e2: SAVING FUNCTION:\u003cbr\u003e3 FUNCTION\u003cbr\u003e4 FUNCTIONS\u003cbr\u003e5 FUNCTION\u003cbr\u003e6 EXPENDITURE FUNCTION:\u003cbr\u003e7\/PLANNED INVESTMENT:-\u003cbr\u003eNATIONAL INCOME EQUILIBRIUM:\u003cbr\u003eINFLATIONARY AND DEFLATIONARY GAPS\u003cbr\u003eMULTIPLIER\u003cbr\u003eACCELERATOR:\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 4 MONEY, BANKING AND INTEREST RATE DETERMINATION\u003c\/strong\u003e\n\u003cp\u003e(Micro Economics A level book 4, Notes)\u003cbr\u003eMONEY\u003cbr\u003eBANKING:\u003cbr\u003eCREDIT CREATION PROCESS:\u003cbr\u003eINTEREST RATE DETERMINATION\u003cbr\u003eLIQUIDITY PREFERENCE THEORY (LPT):\u003cbr\u003eDEMAND FOR MONEY\/LIQUIDITY PREFERENCE (LP):\u003cbr\u003eCHANGES IN EQUILIBRIUM INTEREST RATE:\u003cbr\u003ePAST PAPERS QUESTIONS\u003cbr\u003e4 (Micro Economics A level book 4, Notes)\u003cbr\u003e\u003cstrong\u003eUNIT 5 MACROECONOMIC POLICIES\u003c\/strong\u003e\u003cbr\u003eMONETARY POLICY:\u003cbr\u003eMONETARY TRANSMISSION MECHANISM (MTM)\u003cbr\u003eGOVERNMENT FAILURE ON MACROECONOMIC POLICY\u003cbr\u003ePAST PAPERS QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 6 EMPLOYMENT AND UNEMPLOYMENT\u003c\/strong\u003e\u003cbr\u003eTHE CAUSES OF UNEMPLOYMENT\u003cbr\u003eVOLUNTARY AND INVOLUNTARY UNEMPLOYMENT\u003cbr\u003eFULL-EMPLOYMENT \/ NATURAL RATE OF UNEMPLOYMENT (NRU)\u003cbr\u003eTHE CONSEQUENCES OF UNEMPLOYMENT\u003cbr\u003eMETHODS AND DIFFICULTIES OF MEASURING UNEMPLOYMENT\u003cbr\u003ePOLICIES TO CORRECT UNEMPLOYMENT\u003cbr\u003eTHE PATTERN AND TRENDS IN (UN)EMPLOYMENT\u003cbr\u003eINFLUENCES ON THE SIZE AND COMPOSITION OF THE LABOUR FORCE\u003cbr\u003e\u003ca href=\"https:\/\/readnwrite.org\/product\/accounting-as-level-p2-topical-yearly\/\"\u003e\u003cstrong\u003ePAST PAPER\u003c\/strong\u003e\u003c\/a\u003e QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 7 MACROECONOMIC OBJECTIVES AND CONFLICTS BETWEEN POLICY OBJECTIVES\u003c\/strong\u003e\u003cbr\u003eLONG-RUN PHILIPS CURVE (LRPC):\u003cbr\u003eGOVERNMENT ECONOMIC AIMS:\u003cbr\u003eCONFLICTS AMONG MACROECONOMIC AIMS:\u003cbr\u003eKEYNESIAN AND MONETARIST THEORETICAL APPROACHES\u003cbr\u003ePAST PAPER QUESTIONS\u003c\/p\u003e\n\u003cp\u003e(\u003ca href=\"https:\/\/readnwrite.org\/product\/micro-economics-book-1-as-level-notes\/\"\u003e\u003cstrong\u003eMicro Economics A level book\u003c\/strong\u003e\u003c\/a\u003e 4, Notes)\u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477274357,"sku":"SKU-18","price":860.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/WhatsAppImage2026-03-25at6.20.09PM.jpg?v=1774445050"},{"product_id":"understanding-economics-as-level-book","title":"155 Understanding Economics AS Level Book","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eUnderstanding Economics AS Level Book, Notes and past papers.\u003c\/h2\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003ePREFACE\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eHOW TO USE THIS BOOK \u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eSECTION 1 BASIC ECONOMIC PROBLEM \u003c\/strong\u003e\u003cbr\u003eSCARCITY AND OPPORTUNITY COST\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 2 PRODUCTION POSSIBILITY CURVE \u003c\/strong\u003e\u003cbr\u003ePPC AND SCARCITY\u003cbr\u003ePPC AND OPPORTUNITY COST\u003cbr\u003ePPC AND ECONOMIC EFFICIENCY\u003cbr\u003eSHIFTS IN PPC\u003cbr\u003eCONSUMER GOODS AND CAPITAL GOODS\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 3 ECONOMIC SYSTEMS \u003c\/strong\u003e\u003cbr\u003eFREE MARKET ECONOMY\u003cbr\u003eCOMMAND ECONOMY\u003cbr\u003eMIXED ECONOMY\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 4 POSITIVE AND NORMATIVE STATEMENTS\u003c\/strong\u003e\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 5 DEMAND\u003c\/strong\u003e\u003cbr\u003eLAW OF DEMAND\u003cbr\u003eDEMAND SCHEDULE\u003cbr\u003eDEMAND CURVE\u003cbr\u003eFACTORS CAUSING SHIFTS IN THE DEMAND CURVE (DEMAND DETERMINANTS)\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 6 SUPPLY\u003c\/strong\u003e\u003cbr\u003eLAW OF SUPPLY\u003cbr\u003eSUPPLY SCHEDULE\u003cbr\u003eSUPPLY CURVE\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 7 MARKET EQUILIBRIUM\u003c\/strong\u003e\u003cbr\u003eCHANGES IN THE EQUILIBRIUM PRICE\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 8 ELASTICITY OF DEMAND\u003c\/strong\u003e\u003cbr\u003ePRICE ELASTICITY OF DEMAND (P)\u003cbr\u003eTotal Revenue (TR) or Total Expenditures (TE) method 89\u003cbr\u003eGraphical Method 92\u003cbr\u003ePOINT ELASTICITY OF DEMAND\u003cbr\u003eINCOME ELASTICITY OF DEMAND (M)\u003cbr\u003eCross price elasticity of demand (C) 102\u003cbr\u003eLimitations of demand elasticities 104\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 9 PRICE ELASTICITY OF SUPPLY \u003c\/strong\u003e\u003cbr\u003eDETERMINANTS OF PRICE ELASTICITY OF SUPPLY\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 10 CONSUMER AND PRODUCER SURPLUS\u003c\/strong\u003e\u003cbr\u003eCONSUMER SURPLUS\u003cbr\u003eChanges in Consumer Surplus 140\u003cbr\u003ePRODUCER SURPLUS\u003cbr\u003eChanges in Producer Surplus 142\u003cbr\u003ePRICES AS RATIONING AND ALLOCATIVE MECHANISMS\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 11 TAXES AND SUBSIDIES\u003c\/strong\u003e\u003cbr\u003eTAXES 156\u003cbr\u003e1) Specific tax 156\u003cbr\u003e2) Ad valorem tax (percentage tax) 156\u003cbr\u003eSUBSIDIES\u003cbr\u003eSpecific subsidy 161\u003cbr\u003eAd valorem subsidy (percentage subsidy) 161\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 12 MAXIMUM AND MINIMUM PRICES \u003c\/strong\u003e\u003cbr\u003eMAXIMUM PRICE\u003cbr\u003eImpacts of a maximum price 175\u003cbr\u003eMINIMUM PRICE\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 13 PUBLIC AND PRIVATE GOODS\u003c\/strong\u003e\u003cbr\u003ePUBLIC GOODS\u003cbr\u003ePRIVATE GOODS\u003cbr\u003eMERIT GOODS\u003cbr\u003eDEMERIT GOODS\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 14 FACTORS OF PRODUCTION \u003c\/strong\u003e\n\u003cp\u003e(Understanding Economics AS Level Book, Notes and past papers.)\u003cbr\u003e(1) LAND\u003cbr\u003e(2) CAPITAL\u003cbr\u003e(3) LABOUR\u003cbr\u003e(4) ENTREPRENEURSHIP\u003cbr\u003eDIVISION OF LABOUR\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 15 UNEMPLOYMENT\u003c\/strong\u003e\u003cbr\u003eCOSTS OF UNEMPLOYMENT\u003cbr\u003eREDUCING UNEMPLOYMENT\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 16 MONEY \u003c\/strong\u003e\u003cbr\u003eEVOLUTION OF MONEY\u003cbr\u003eFUNCTIONS OF MONEY\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003eSECTION 17 AGGREGATE DEMAND \u0026amp; AGGREGATE SUPPLY 229\u003cbr\u003eAGGREGATE DEMAND (AD)\u003cbr\u003eAGGREGATE SUPPLY (AS)\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 18 GENERAL PRICE LEVEL: PRICE INDICES\u003c\/strong\u003e\u003cbr\u003eLIMITATIONS OF PRICE INDEX\u003cbr\u003eNOMINAL AND REAL CHANGES\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 19 INFLATION\u003c\/strong\u003e\u003cbr\u003eTYPES OF INFLATION\u003cbr\u003eCAUSES OF INFLATION\u003cbr\u003eCONSEQUENCES OF INFLATION\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 20 PRINCIPLES OF ABSOLUTE \u0026amp; COMPARATIVE ADVANTAGE\u003c\/strong\u003e\u003cbr\u003eTHEORY OF ABSOLUTE ADVANTAGE\u003cbr\u003eTHEORY OF COMPARATIVE ADVANTAGE\u003cbr\u003eEXCEPTIONS TO THE THEORIES OF ABSOLUTE \u0026amp; COMPARATIVE ADVANTAGE\u003cbr\u003eLIMITATIONS TO THE THEORIES\u003cbr\u003eCHALLENGES OF INTERNATIONAL TRADE\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 21 TERMS OF TRADE\u003c\/strong\u003e\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003eSECTION 22 ARGUMENTS FOR FREE TRADE \u0026amp; MOTIVES FOR PROTECTION 296\u003cbr\u003eARGUMENTS FOR FREE TRADE\u003cbr\u003eTYPES (METHODS) OF PROTECTION AND THEIR EFFECTS\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 23 ECONOMIC INTEGRATION \u003c\/strong\u003e\u003cbr\u003eFREE TRADE AREA\u003cbr\u003eCUSTOMS UNION\u003cbr\u003eCOMMON MARKET\u003cbr\u003eFULL ECONOMIC UNION\u003cbr\u003ePOLITICAL UNION\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 24 BALANCE OF PAYMENTS\u003c\/strong\u003e\u003cbr\u003e(I) CURRENT ACCOUNT\u003cbr\u003e(II) FINANCIAL (CAPITAL) ACCOUNT\u003cbr\u003eBALANCE OF PAYMENTS PROBLEMS\u003cbr\u003eWhy is a trade deficit bad? 321\u003cbr\u003eWhy is a trade surplus bad? 322\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 25 EXCHANGE RATES\u003c\/strong\u003e\u003cbr\u003eNOMINAL EXCHANGE RATE\u003cbr\u003eREAL EXCHANGE RATE\u003cbr\u003ePURCHASING POWER PARITY THEORY\u003cbr\u003eMANAGED FLOATING\u003cbr\u003eFLEXIBLE OR FLOATING EXCHANGE RATES\u003cbr\u003eCHANGES IN EXCHANGE RATES\u003cbr\u003eFIXED EXCHANGE RATES\u003cbr\u003eMANAGED FLOAT\u003cbr\u003eADVANTAGES \u0026amp; DISADVANTAGES OF FIXED \u0026amp; FLOATING EXCHANGE RATES\u003cbr\u003ePOLICIES TO CORRECT BALANCE OF PAYMENTS DISEQUILIBRIUM\u003cbr\u003ePOLICIES TO CORRECT A TRADE SURPLUS\u003cbr\u003eIMPACTS OF CHANGES IN INTEREST RATE\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eSECTION 26 FISCAL POLICY\u003c\/strong\u003e\u003cbr\u003eMONETARY POLICY\u003cbr\u003eSUPPLY SIDE POLICIES AND NATURAL RATE OF UNEMPLOYMENT\u003cbr\u003eSYSTEMS OF TAXATION\u003cbr\u003eMULTIPLE CHOICE QUESTIONS\u003cbr\u003e\u003cstrong\u003eANSWERS\u003c\/strong\u003e     393\u003c\/p\u003e\n\u003cp\u003e(\u003ca href=\"https:\/\/readnwrite.org\/product\/understanding-economics-a2-level-book\/\"\u003e\u003cstrong\u003eUnderstanding Economics AS Level Book\u003c\/strong\u003e\u003c\/a\u003e, Notes and past papers.)\u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477307125,"sku":"SKU-19","price":1000.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/91737946_2436140836487688_4573813061235769344_n.jpg?v=1765551019"},{"product_id":"understanding-economics-a2-level-book","title":"156 Understanding Economics A2 Level Book","description":"\u003cp\u003e \u003c\/p\u003e\n\u003ch2\u003eUnderstanding Economics A2 Level Book\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eSection: 1 Utility\u003c\/strong\u003e\u003cbr\u003eLaw of Diminishing Marginal Utility\u003cbr\u003eLaw of Equi Marginal Utility\u003cbr\u003eIndifference Analysis\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 2 Budget Line\u003c\/strong\u003e\u003cbr\u003eShifts In Budget Line\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 3 Normal, Inferior and Giffen Goods\u003c\/strong\u003e\u003cbr\u003eReal Income and Substitution Effects of a Price Change\u003cbr\u003eConsumer's Equilibrium\u003cbr\u003eIncome Consumption Curve (ICC)\u003cbr\u003eImpacts of Changes in Price\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 4 Costs of the businesses\u003c\/strong\u003e\u003cbr\u003eLaws of Variable Proportion\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 5 Cost Curves in the Long Run\u003c\/strong\u003e\u003cbr\u003eEconomies of Scale\u003cbr\u003eLeast Cost Combination\u003cbr\u003eIsoquant and Isocost Approach\u003cbr\u003eMinimum Efficient Scale (MES)\u003cbr\u003eMinimum Efficient Scale (MES) And The Size Of Firms\u003cbr\u003eNatural Monopoly\u003cbr\u003eReasons For The Existence Of Small Firms\u003cbr\u003e\u003cstrong\u003eSection: 6 Economist’s Versus Accountant’s Definition of Costs\u003c\/strong\u003e\u003cbr\u003eDecisions to Continue or Shutdown Businesses\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 7 Market Structures\u003c\/strong\u003e\u003cbr\u003ePerfect Competition\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 8 Monopoly\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 9 Externalities\u003c\/strong\u003e\u003cbr\u003eNegative Externalities\u003cbr\u003ePositive Externalities\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 10 Cost Benefit Analysis\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 11 Comparison between Perfect Competition and Monopoly\u003c\/strong\u003e\u003cbr\u003eEfficiency: Productive and Allocative Efficiency\u003cbr\u003eRemedies to Monopoly Abuse\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 12 Objectives of Firms\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 13 Price Discrimination\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 14 Monopolistic Competition\u003c\/strong\u003e\u003cbr\u003eOligopoly(Understanding \u003ca href=\"https:\/\/readnwrite.org\/product\/micro-economics-book-1-as-level-notes\/\"\u003e\u003cstrong\u003eEconomics As Level Book\u003c\/strong\u003e\u003c\/a\u003e)\u003cbr\u003ePrice rigidness in Oligopoly\u003cbr\u003eCartels\u003cbr\u003eNon-Collusive Oligopoly: Game Theory\u003cbr\u003ePrisoner's Dilemma\u003cbr\u003eConcentration Ratio (Lorenz Curve \u0026amp; Gini Coefficient)\u003cbr\u003eGrowth of Firms\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 15 Contestable Market\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 16 Factor Market\u003c\/strong\u003e\u003cbr\u003eMarginal Revenue Productivity Theory\u003cbr\u003eLabour Supply Curve\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 17 Monopsony\u003c\/strong\u003e\u003cbr\u003eTrade Unions(Understanding Economics As Level )\u003cbr\u003eWage Differentials\u003cbr\u003eEconomic Rent\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 18 National Income Accounting\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 19 Per Capita Income and Standard of Living\u003c\/strong\u003e\u003cbr\u003ePoverty Trap\u003cbr\u003eIntergenerational Equity\u003cbr\u003eNet Economic Welfare (NEW)\u003cbr\u003eAn Introduction of BRICS\u003cbr\u003eHuman Poverty Index\u003cbr\u003eMultidimensional Poverty Index (MPI)\u003cbr\u003eKuznets Curve\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 20 Equilibrium National Income\u003c\/strong\u003e\u003cbr\u003eSquaring The Economic Cycle(Understanding Economics As Level )\u003cbr\u003eEquilibrium Income (a Graphical Treatment)\u003cbr\u003eClose Economy without Government\u003cbr\u003eInvestment Expenditures\u003cbr\u003eEquilibrium National Income\u003cbr\u003eA Situation of Disequilibrium\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 21 Close Economy with Government\u003c\/strong\u003e\u003cbr\u003eEquilibrium Income in a Close Economy with Government\u003cbr\u003eEquilibrium National Income (Three Sectoral Economy)- Graphical Analysis\u003cbr\u003eTransfer Payment Multiplier\u003cbr\u003eInduced Taxes\u003cbr\u003eInflationary and Deflationary Gaps\u003cbr\u003eSystems of Taxation\u003cbr\u003eLaffer Curve\u003cbr\u003eNudge Theory\u003cbr\u003eMeans-Tested Benefit\u003cbr\u003eNegative Income Tax\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 22 Open Economy\u003c\/strong\u003e\u003cbr\u003eEquilibrium Income in an Open Economy\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 23 Principle of Accelerator\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 24 Aggregate Demand (AD)\u003c\/strong\u003e\u003cbr\u003eComparison: Classicals, Monetarists and Keynesians\u003cbr\u003eAggregate Supply (AS)\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 25 Liquidity Preference Theory\u003c\/strong\u003e\u003cbr\u003eLoanable Fund Theory\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 26 Quantity Theory of Money\u003c\/strong\u003e\u003cbr\u003eCredit Creation Process\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 27 Unemployment\u003c\/strong\u003e\u003cbr\u003ePhilips Curve\u003cbr\u003eSupply Side Policies And Natural Rate Of Unemployment\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 28 Interdependence of Economic Policies\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003e\u003cstrong\u003eSection: 29 Developing Economies\u003c\/strong\u003e\u003cbr\u003eMultiple Choice Questions\u003cbr\u003eAnswer Key.\u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477372661,"sku":"SKU-20","price":1120.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/WhatsAppImage2026-03-25at6.03.24PM.jpg?v=1774443827"},{"product_id":"economics-a-level-p-2-topical-work-solution","title":"152 Economics A Level Paper 2 Topical Worked Solutions","description":"\u003cp\u003e \u003c\/p\u003e\n\u003ch2\u003e152 Economics A Level Paper 2 Topical Worked Solutions\u003c\/h2\u003e\n\u003cp\u003e\u003cbr\u003eIn addition to basic knowledge and comprehension, Cambridge International (CI) essay questions test a variety of higher order skills like application, analysis and evaluation.\u003c\/p\u003e\n\u003cp\u003eWhat motivated me to write this book was the fear of thousands of A Level Economics students to meet this challenging task.\u003c\/p\u003e\n\u003cp\u003eThis book makes an effective learning tool for the application of existing knowledge to novel and unfamiliar situations, critical analysis involving logic and reasoning, evaluation of given policies and incorporation of one’s own judgment into a comprehensive, well-structured essay.\u003c\/p\u003e\n\u003cp\u003eThe broader aim, however, is to provide a sense of achievement to students and develop their self confidence as they learn to tackle essay questions effectively. Memorizing the contents of this book and reproducing them as such will have no more than a marginal impact on their skill to produce a well-informed essay.\u003c\/p\u003e\n\u003cp\u003eWe hope our readers bear in mind that investing time and effort in developing essay writing skills today will benefit them endlessly throughout their life. I strongly recommend students to attempt examination questions on their own before consulting the answers provided in this book. They must consult other textbooks, incorporate necessary changes and build what they think is a perfect answer before comparing it with the one this book provides.\u003c\/p\u003e\n\u003cp\u003eI particularly chose to write fully structured essays in place of brief, bulleted answers as the latter kill the entire spirit of a coherent essay.\u003c\/p\u003e\n\u003cp\u003eI hope my readers will be satisfied with the content this book has to offer them. At the same time, I look forward to their criticism and suggestions. Students may also find my other two books, Understanding \u003ca href=\"https:\/\/readnwrite.org\/product\/understanding-economics-as-level-book\/\"\u003e\u003cstrong\u003eEconomics AS Level\u003c\/strong\u003e\u003c\/a\u003e and Understanding Economics A2 Level, useful in meeting the study requirements of the CI Advanced Level Economics syllabus.\u003c\/p\u003e\n\u003cp\u003eThank you\u003c\/p\u003e\n\u003cp\u003eKamran Malik\u003c\/p\u003e\n\u003cp\u003eFollowing \u003ca href=\"https:\/\/readnwrite.org\/product\/business-studies-o-level-topical-work-book\/\"\u003e\u003cstrong\u003etopics are covered in this book\u003c\/strong\u003e\u003c\/a\u003e in the same order.\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003eEconomics A Level Paper 2 Topical Worked Solutions\u003c\/h3\u003e\n\u003cp\u003e\u003cbr\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eTopical\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eWorked Solutions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eQuestions order new to old\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e\u003cbr\u003e\u003cbr\u003e\u003c\/p\u003e\n\u003ch3\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003c\/h3\u003e\n\u003cp\u003e\u003cbr\u003eUNIT-1  ECONOMIC SYSTEMS\u003c\/p\u003e\n\u003cp\u003eUNIT-2  SCARCITY, OPPORTUNITY COST, PRODUCTION POSSIBILITY CURVE\u003c\/p\u003e\n\u003cp\u003eUNIT-3  MARKET EQUILIBRIUM, SHIFTS IN DEMAND\/SUPPLY CURVES\u003c\/p\u003e\n\u003cp\u003eUNIT-4  PED, MED, XED\u003c\/p\u003e\n\u003cp\u003eUNIT-5  PES, PRIMARY GOODS, CONSUMER\/PRODUCERS SURPLUS, INDIRECT TAXES, SUBSIDIES\u003c\/p\u003e\n\u003cp\u003eUNIT-6  MAXIMUM \u0026amp; MINIMUM PRICES\u003c\/p\u003e\n\u003cp\u003eUNIT-7  MERIT, DEMERIT, PRIVATE \u0026amp; PUBLIC GOODS\u003c\/p\u003e\n\u003cp\u003eUNIT-8  FACTORS OF PRODUCTION, DIVISION OF LABOUR, LABOUR PRODUCTIVITY\u003c\/p\u003e\n\u003cp\u003eUNIT-9  INCOME INEQUALITIES\u003c\/p\u003e\n\u003cp\u003eUNIT-10  AD\/AS, CIRCULAR FLOW OF NATIONAL INCOME, ECONOMIC GROWTH\u003c\/p\u003e\n\u003cp\u003eUNIT-11  PRICE INDICES, INFLATION, UNEMPLOYMENT\u003c\/p\u003e\n\u003cp\u003eUNIT-12  INTERNATIONAL TRADE\u003c\/p\u003e\n\u003cp\u003eUNIT-13  FISCAL, MONETARY \u0026amp; SUPPLY SIDE POLICIES\u003c\/p\u003e\n\u003cp\u003eDATA RESPONSE\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477405429,"sku":"SKU-21","price":1050.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/152-2.png?v=1765551021"},{"product_id":"economics-a-level-paper-4-topical-model-essays","title":"154 Economics A-Level Paper-4 Topical Worked Solutions","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eEconomics A Level Paper 4 Topical Solutions\u003c\/h2\u003e\u003cbr\u003e\u003cul\u003e\n\u003cbr\u003e \t\u003cli\u003eElaborated mark schemes\u003c\/li\u003e\n\u003cbr\u003e \t\u003cli\u003eQuestions order new to old\u003c\/li\u003e\n\u003cbr\u003e\n\u003c\/ul\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003eUnit-1 Consumers' Equilibrium, Indifference Curve Analysis\u003cbr\u003eUnit-2 Cost Curves, Size of Firms\u003cbr\u003eUnit-3 Market Structures\u003cbr\u003eUnit-4 Economic Efficiency\u003cbr\u003eUnit-5 Factor Market\u003cbr\u003eUnit-6 Per Capita Income, Living Standards, Developing Economies\u003cbr\u003eUnit-7 Equilibrium Income, Keynesian Multiplier\u003cbr\u003eUnit-8 Monetary Policy\u003cbr\u003eData Response","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477438197,"sku":"SKU-22","price":1520.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/154-3.png?v=1765551010"},{"product_id":"161-economics-as-level-revision-notes-series-by-zain-mushtaq","title":"161 Economics As Level Revision Notes Series By Zain Mushtaq","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eEconomics As Level Revision Notes Series By Zain Mushtaq\u003c\/h2\u003e\u003cbr\u003e\u003ch3\u003eTABLE OF CONTENT\u003c\/h3\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 1 BASIC ECONOMIC PROBLEM AND PPC \u003c\/strong\u003e\u003cbr\u003eNeeds vs Wants\u003cbr\u003eFactor of production and factor Reward\/Payment\u003cbr\u003eRole of enterprise in a modern economy\u003cbr\u003eThe Basic Economic Problem\/Fundamental economic Problem\/Problem of scarcity\u003cbr\u003eOpportunity cost\u003cbr\u003eProduction possibility curves\u003cbr\u003eShape of PPC\u003cbr\u003eProduction points\u003cbr\u003eShifts in PPC\u003cbr\u003eConsumer goods vs capital goods\u003cbr\u003eResource allocation\u003cbr\u003eEconomic systems\u003cbr\u003ePrivate and Public Sectors\u003cbr\u003eMarket System\u003cbr\u003ePlanned System\u003cbr\u003eMixed System\u003cbr\u003ePositive and normative statements\u003cbr\u003eSpecialization and division of labor\n\u003cp\u003e\u003cstrong\u003eUNIT 2 DEMAND AND SUPPLY CURVES \u003c\/strong\u003e\u003cbr\u003eMarket\u003cbr\u003eDemand\u003cbr\u003eNon-Price Determinants of demand\u003cbr\u003eSupply\u003cbr\u003eNon-Price Determinants of Supply\u003cbr\u003eMarket Equilibrium\u003cbr\u003eExcess supply\u003cbr\u003eExcess demand\u003cbr\u003eMicroeconomics Equilibrium Shifts\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 3 ELASTICITIES \u003c\/strong\u003e\u003cbr\u003ePrice elasticity of demand (PED)\u003cbr\u003eDeterminants of PED\u003cbr\u003eOther degrees of PED\u003cbr\u003ePrice elasticity of demand and Total Revenue\u003cbr\u003ePrice elasticity of demand along the demand curve\u003cbr\u003eIncome elasticity of demand (YED)\u003cbr\u003eCross elasticity of demand (XED)\u003cbr\u003ePrice elasticity of supply (PES)\u003cbr\u003eDeterminants of PES\u003cbr\u003eOther degrees of PES\u003cbr\u003eBusiness use and limitations of all elasticites\u003cbr\u003ePED\u003cbr\u003ePES\u003cbr\u003eXED\u003cbr\u003eYED\u003cbr\u003eLimitations\u003cbr\u003eGovernment use of PED and PES\u003cbr\u003eSubsidy\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 4 GOVERNMENT MICROECONOMIC INTERVENTION \u003c\/strong\u003e\u003cbr\u003eFree goods, private goods (economic goods) and public goods\u003cbr\u003ePublic goods\u003cbr\u003eMerit Goods, Demerit Goods as the outcome of imperfect information by the consumers\u003cbr\u003eMerit Goods\u003cbr\u003eDe-Merit Goods\u003cbr\u003eConsumer surplus\u003cbr\u003eProducer surplus\u003cbr\u003eSocial\/Society Surplus\u003cbr\u003ePrice Controls (Maximum and Minimum Prices)\u003cbr\u003eMaximum Price (Price Ceiling) and Market impact\u003cbr\u003eMinimum Price (Price Floor) and Market Impact\u003cbr\u003eIndirect taxes\u003cbr\u003eIndirect Taxation-Market Impact\u003cbr\u003eSubsidy-Market Impact\u003cbr\u003eDirect Provision of Goods and Services\u003cbr\u003eBuffer stock schemes\u003cbr\u003eResource allocation in different economic systems and issue of transition\u003cbr\u003eEconomics systems\/Systems of resource allocation\u003cbr\u003eMarket System\u003cbr\u003ePlanned System\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 5 ADDRESSING INCOME AND WEALTH INEQUALITY\u003c\/strong\u003e\u003cbr\u003eIncome and wealth\u003cbr\u003eMeasuring income and wealth inequality\u003cbr\u003eReasons for inequality\u003cbr\u003ePolicies to redistribute income and wealth\u003cbr\u003eTransfer payments\u003cbr\u003eState provision of essential goods and services\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 6 NATIONAL INCOME STATISTICS\u003c\/strong\u003e\u003cbr\u003eNational income statistics\u003cbr\u003eCircular flow of income\u003cbr\u003eWays of calculating GDP\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 7 AGGREGATE DEMAND AND AGGREGATE SUPPLY ANALYSIS AND PRICE STABILITY\u003c\/strong\u003e\u003cbr\u003eAggregate Demand\u003cbr\u003eShifts in AD\u003cbr\u003eAggregate Supply\u003cbr\u003eClassical Interpretation\u003cbr\u003eKeynes Model (John Maynard Keynes)\u003cbr\u003eDisagreement about Flexibility of wages\u003cbr\u003eShifts of LRAS is dependent on\u003cbr\u003eMacroeconomic equilibrium\u003cbr\u003eInflation\u003cbr\u003eMoney Value vs Real Value\u003cbr\u003eMeasuring inflation using CPI (Consumer Price Index)\u003cbr\u003eCauses if inflation\u003cbr\u003eDemand-pull inflation\u003cbr\u003eCost-push inflation\u003cbr\u003eConsequences of inflation\u003cbr\u003eDeflation\u003cbr\u003eSupply side deflation (Good deflation)\u003cbr\u003eDemand side deflation (Bad deflation)\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 8 ECONOMIC GROWTH\u003c\/strong\u003e\u003cbr\u003eNominal GDP vs Real GDP\u003cbr\u003eReal GDP per head Actual versus Potential Growth\u003cbr\u003eConsequences of economic growth\u003cbr\u003eRecession\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 9 UNEMPLOYMENT\u003c\/strong\u003e\u003cbr\u003eMeasures of unemployment\u003cbr\u003eCauses and types of unemployment\u003cbr\u003eConsequences of unemployment\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 10 EXCHANGE RATES\u003c\/strong\u003e\u003cbr\u003eExchange rate\u003cbr\u003eFree Floating Exchange Rate System\u003cbr\u003eDetermination of foreign exchange rate\u003cbr\u003eThe consequences of a fall in exchange rate (Depreciation)\u003c\/p\u003e\n\u003cp\u003eThe consequences of a rise in exchange rate (Appreciation)\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 11 CURRENT ACCOUNT OF THE BALANCE OF PAYMENTS\u003c\/strong\u003e\u003cbr\u003eCurrent account\u003cbr\u003eCauses and consequences of current account deficit\u003cbr\u003eConsequences of current account deficit\u003cbr\u003eCauses and consequences of current account surplus Consequences of current account surplus\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 12 TRADE PROTECTIONISM AND TERM OF TRADE\u003c\/strong\u003e\u003cbr\u003eAssumptions\u003cbr\u003eAbsolute Advantage\u003cbr\u003eComparative Advantage\u003cbr\u003eAbsolute Advantage\u003cbr\u003eComparative Advantage\u003cbr\u003eLimitations of this model\u003cbr\u003eFree Trade\u003cbr\u003eBenefits of free trade\u003cbr\u003eFree Trade Diagram\u003cbr\u003eProtectionism\u003cbr\u003eMethods of protection and their impact\u003cbr\u003eTariffs\u003cbr\u003eThe terms of trade (TOT)\u003cbr\u003eMovements in TOT\u003cbr\u003eFactors affecting terms of trade\u003cbr\u003eShort-Run Cause\u003cbr\u003eLong-Run Cause\u003cbr\u003eThe impact of changes in terms of trade on balance of trade\u003cbr\u003ePolicies to correct imbalances in the current of the balance of payments\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 13 GOVERNMENT MACROECONOMIC POLICY OBJECTIVES\u003c\/strong\u003e\u003cbr\u003eMacroeconomic objectives\u003cbr\u003eFiscal Policy\u003cbr\u003eTaxation\u003cbr\u003eTax systems\u003cbr\u003eDirect Tax vs Indirect tax\u003cbr\u003eImpact of direct taxes\u003cbr\u003eAdvantages\u003cbr\u003eCanons of taxation\u003cbr\u003eReasons for taxation\u003cbr\u003eGovernment Spending\u003cbr\u003eFiscal policy and LRAS\u003cbr\u003eThe Budget Position\u003cbr\u003eMonetary Policy\u003cbr\u003eTypes of monetary policy\u003cbr\u003eMonetary Policy and LRAS\u003cbr\u003eSupply side policy measures\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eMEET MY FAMILY\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e \u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408481468661,"sku":"SKU-127","price":1000.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/161.png?v=1765551058"},{"product_id":"162-economics-a2-level-revision-notes-series-by-zain-mushtaq","title":"162 Economics A2 Level Revision Notes Series By Zain Mushtaq","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eEconomics A2-Level Revision Notes Series By Zain Mushtaq\u003c\/h2\u003e\u003cbr\u003e\u003ch3\u003eTABLE OF CONTENT\u003c\/h3\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 1 CONSUMER BEHAVIOUR\u003c\/strong\u003e\u003cbr\u003eLaw of diminishing marginal utility\u003cbr\u003eIndifference curves and budget lines\n\u003cp\u003e\u003cstrong\u003eUNIT 2 TYPES OF COSTS, REVENUE AND PROFIT, SHORT-RUN AND LONG-RUN PRODUCTION \u003c\/strong\u003e\u003cbr\u003eThe short run and the long run\u003cbr\u003eLaw of diminishing returns (Law of variable proportions)\u003cbr\u003eShort-run costs\u003cbr\u003eAverage costs and marginal cost\u003cbr\u003eProduction and costs in the long run\u003cbr\u003eEconomies and dis-economies of scale\u003cbr\u003eTypes of internal Economies of scale\u003cbr\u003eTypes of internal Dis-economies of scale\u003cbr\u003eExternal economies and dis-economies of scale\u003cbr\u003eConstant returns to scale\u003cbr\u003eRevenue\u003cbr\u003eprofit\u003cbr\u003eEconomic profit\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 3: DIFFERENT MARKET STRUCTURES\u003c\/strong\u003e\u003cbr\u003eMarket Structures\u003cbr\u003ePerfect Competition (Characteristics)\u003cbr\u003eProfits for firms in Perfect Competition in Short Run\u003cbr\u003eEconomic Loss in Short Run (continue to produce or shut down)\u003cbr\u003eShort-run supply curve of the perfectly competitive firm\u003cbr\u003eProfits for firms in Perfect Competition in Long Run (Normal Profit only)\u003cbr\u003ePerfect Competition and Efficiency in the long run\u003cbr\u003eMonopoly (Characteristics)\u003cbr\u003eBarriers to entry\/Exit (Sources of Monopoly power)\u003cbr\u003eMonopoly Profit (Profit Maximization MC=MR)\u003cbr\u003eMonopoly market outcomes and efficiency\u003cbr\u003eOligopoly\u003cbr\u003eCompetitive Theories\u003cbr\u003eGame Theory\u003cbr\u003eCollusive Theories\u003cbr\u003eCartel\u003cbr\u003ePrice Leadership (Tacit Collusion)\u003cbr\u003eMonopolistic Competition\u003cbr\u003eShort-Run Equilibrium\u003cbr\u003eLong-Run Equilibrium\u003cbr\u003eEfficiency in monopolistic competition and comparison with perfect competition\u003cbr\u003eContestable Markets\u003cbr\u003eDiffering objectives of a firm\u003cbr\u003eAlternative objectives of firms\u003cbr\u003eSales revenue maximisation\u003cbr\u003eSales volume maximisation (Growth maximization)\u003cbr\u003eProfit satisficing\/Allocative efficiency\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 4 MARKET FAILURE\u003c\/strong\u003e\u003cbr\u003eMarket Failure and Government Intervention\u003cbr\u003eExternalities\u003cbr\u003ePositive Consumption Externality (MSB\u0026gt;MPB)\u003cbr\u003eNegative Production Externality (MSC\u0026gt;MPC)\u003cbr\u003ePositive Production Externality (MSC\u0026gt;MPC)\u003cbr\u003ePublic Goods\u003cbr\u003eMarket power (Monopoly)\u003cbr\u003eImperfect information\/information failure\u003cbr\u003eFactor Mobility\u003cbr\u003eBehavioral insights and 'nudge' theory\u003cbr\u003eEvaluation of intervention tools:\u003cbr\u003eCost Benefit Analysis (CBA)\u003cbr\u003eNationalization and Privatization\u003cbr\u003eGovernment Failure\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 5: LABOUR MARKET FORCES AND GOVERNMENT INTERVENTION\u003c\/strong\u003e\u003cbr\u003eDemand for and supply of labour\u003cbr\u003eSupply of labour\u003cbr\u003eIndustry and firm labor supply curves\u003cbr\u003eElasticity of Supply for Labour\u003cbr\u003eEconomic rent and transfer earnings\u003cbr\u003eWage Determination\u003cbr\u003eCase #1: Perfect Competition\u003cbr\u003eCase #2: Monopsony (Labour is supplied competitively but demanded monopsonistically)\u003cbr\u003eCase #3: Trade Union [Labour is demanded competitively and supplied monopolistically (Trade union)]\u003cbr\u003eCase # 4: Monopsony vs Trade Union (Bilateral Monopoly) (Labour is supplied and demanded with market power)\u003cbr\u003eCase #5: Government (National Minimum Wage)\u003cbr\u003eWage Differential\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 6: EQUITY AND REDISTRIBUTION OF INCOME AND WEALTH\u003c\/strong\u003e\u003cbr\u003eEquity and equality\u003cbr\u003eEquity and efficiency\u003cbr\u003eGovernment policies to redistribute income and wealth\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 7: THE CIRCULAR FLOW OF INCOME\u003c\/strong\u003e\u003cbr\u003eNational Income determination\u003cbr\u003e2 Sector Model\/ Closed Economy with no Government\u003cbr\u003eInvestment\u003cbr\u003eMultiplier effect\u003cbr\u003eFactors affecting Investment\u003cbr\u003eShift of investment curve\u003cbr\u003eParadox of thrift and Accelerator theory\u003cbr\u003e3 Sector Model\/Closed Economy with Government\u003cbr\u003e4 Sector Model\/Open Economy with Government\u003cbr\u003eInflationary Gap and Deflationary gap\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 8: EXCHANGE RATES\u003c\/strong\u003e\u003cbr\u003eExchange rate systems\u003cbr\u003eFixed Exchange rate\u003cbr\u003eIf market forces are pushing down the value of currency up the value of currency\u003cbr\u003eIf market forces are pushing up the value of currency\u003cbr\u003eThe consequences of a fall in exchange rate (Depreciation\/Devaluation)\u003cbr\u003eThe consequences of a rise in exchange rate (Appreciation\/Re valuation)\u003cbr\u003eTypes of exchange rates\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eUNIT 9: MONEY AND BANKING\u003c\/strong\u003e\u003cbr\u003eMoney\u003cbr\u003eMoney Market\u003cbr\u003eMoney Demand (Liquidity Preference 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