Cambridge AS & A Level Economics
7The price system and the microeconomy (A Level)
In this topic
- 7.1 Utility
- 7.2 Indifference curves and budget lines
- 7.3 Efficiency and market failure
- 7.4 Private costs and benefits, externalities and social costs and benefits
- 7.5 Types of cost, revenue and profit, short-run and long-run production
- 7.6 Different market structures
- 7.7 Growth and survival of firms
- 7.8 Differing objectives and policies of firms
Lessons
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Utility, diminishing marginal utility and the equi-marginal principle
50 min
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Indifference curves, budget lines and the income and substitution effects
55 min
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Judging how well markets use resources: the five kinds of efficiency
50 min
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Cost-benefit analysis: weighing the full costs and benefits of a project
60 min
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Externalities: private, external and social costs and benefits
60 min
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Long-run costs and economies of scale
45 min
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Normal and supernormal profit and the shutdown decision
40 min
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Revenue and the profit-maximising output
45 min
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Short-run costs: total, average and marginal
45 min
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Short-run production and diminishing returns
40 min
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Collusion, cartels and the Prisoner's Dilemma
45 min
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Market structures: features, barriers and contestability
40 min
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Monopolistic competition
40 min
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Monopoly and natural monopoly
45 min
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Oligopoly: interdependence and pricing behaviour
45 min
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Perfect competition
45 min
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How firms grow: organic growth, mergers and takeovers
50 min
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Objectives of firms
40 min
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Price discrimination
45 min
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