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AL-Economics

A Level Economics

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74 views2 pages

AL-Economics

A Level Economics

Uploaded by

alc4css25
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Preparing for Transition from Key Stage 4 to Key Stage 5

Subject Qualification

Economics A Level

Recommended Reading Materials Recommended Websites

 OCR A Level Economics (4th Edition)  www.tutor2u.net - tutor2u


 OCR A Level Economics Student Book  www.studywise.co.uk - StudyWise
(AS) Summary - Susan Grant  www.ocr.org.uk - OCR
 A Level Economics (5th Edition) - Alain  www.economicsonline.co.uk -
Anderton Economics Online
 OCR A Level Economics Student Guide  www.ezyeducation.co.uk - Ezy
3: Microeconomics 2 - Sam Dobin Education
 OCR A Level Economics Workbook:
Microeconomics 2 - Terry Cook

Preparation Tasks Recommended Research

 Task 1:  OCR A Level Economics (4th Edition)


Identify the nature and purpose of an  www.tutor2u.net - tutor2u
economic activity  www.tutor2u.net - tutor2u
 Task 2:  www.economicsonline.co.uk -
Explain how resources are used to produce Economics Online
goods and services (e.g. non-renewable,  www.study.com - Study.com
renewable, materials, water and animals)  www.youtube.com
 Task 3:
Analyse the role of the following economic
agents:
▫ Producers
▫ Consumers
▫ Governments

Recommended trips or visits this Summer

 Bank of England
 Federal Reserve Bank of New York
 Mansion House
 The Gherkin
 The Crystal
 The London Stock Exchange

Tasks to Complete
 Define a free (a free good is one without a market-determined price) and an economic
good. Refer to scarce goods, infinite wants, needing to make a choice and the economic
problem. Also, that free goods have no opportunity cost (define the term) but that
economic goods do have an opportunity cost.
 You should aim to make a clear distinction between the free and the market priced good.
This should enable you to include the following key terms:
▫ Scarcity
▫ Choice
▫ Allocation of resources
▫ Opportunity Cost
▫ How economic systems make their choices
▫ Private and Social costs

 Explain what the production possibility curve shows, using a diagram to illustrate your
answer. Refer to the assumptions that are made when drawing the curve. Illustrate points
inside the curve means unemployed resources or inefficient production. Explain a shift
occurs due to economic growth

Example of Production Possibility Frontier:

 Define economic growth and explain how it can happen, e.g. increase in the quantity of
resources, increase in the quality of resources or technological progress. Giving examples
of each

 Evaluate the different objectives of economic agents in an economy

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