157 Micro Economics AS Level Revision Notes Series Book 1 by Imran Latif

UNIT 1 BASIC ECONOMIC IDEAS AND RESOURCE ALLOCATION
BASIC ECONOMIC PROBLEM
PRODUCTION POSSIBILITY CURVE
ECONOMIC STRUCTURE
POSITIVE AND NORMATIVE STATEMENTS
CLASSIFICATION OF GOODS AND SERVICES:
BASIC ECONOMIC QUESTIONS
MEANING OF THE TERM ‘CETERIS PARIBUS'
DECISIONS AT THE MARGIN
SHORT RUN, LONG RUN AND VERY LONG RUN
ECONOMIC SYSTEMS
DIFFICULTIES FACED BY TRANSITION ECONOMIES:
TOPICAL PAST PAPER ESSAY QUESTIONS
UNIT 2 DEMAND, SUPPLY & EQUILIBRIUM
DEMAND
SUPPLY
EQUILIBRIUM
INTERDEPENDENT MARKETS & PRICES
ECONOMIC AGENTS IN A MARKET ECONOMY
THE FUNCTION OF PRICES IN THE MARKET
TOPICAL PAST PAPER ESSAY QUESTIONS
UNIT 3 ELASTICITY
INTERPRETING THE ELASTICITY FIGURES:
ELASTICITY OF DEMAND
PRICE ELASTICITY OF SUPPLY (PES)
DETERMINANTS OF PES
INCOME ELASTICITY OF DEMAND
CROSS ELASTICITY OF DEMAND (XED)
PRACTICAL APPLICATIONS OF ELASTICITY
LIMITATIONS OF THE CONCEPT OF ELASTICITY
PAST PAPERS QUESTIONS
UNIT 4 GOVERNMENT MICROECONOMIC INTERVENTION
CONSUMER SURPLUS
PRODUCER SURPLUS:
TOTAL SURPLUS:
EFFICIENCY AND MARKET EQUILIBRIUM
FINANCIAL INTERVENTION:
PRICE CONTROLS:
PRIVATIZATION
NATIONALIZATION AND DIRECT PROVISION OF GOODS AND SERVICES
PAST PAPERS QUESTIONS