AQA AS Economics Student Unit Guide: Unit 1 Markets and Market Failure

Perfect for revision, these guides explain the unit requirements, summarise the content and include specimen questions with graded answers. Each full-colour New Edition Student Unit Guide provides ideal preparation for your unit exam: - Feel confident you understand the unit: each guide comprehensively covers the unit content and includes topic summaries, knowledge check questions and a reference index- Get to grips with the exam requirements: the specific skills on which you will be tested are explored and explained- Analyse exam-style questions: graded student responses will help you focus on areas where you can improve your exam technique and performance CONTENTS: Introduction to the specification The economic problem Supply and demand in competitive markets Elasticity Prices and resource allocation Production and efficiency Market failure, public goods and externalities Merit and demerit goods, income and wealth inequalities, and labour immobility Monopolies and the allocation of resources Government intervention in the market