A Level Economics Flashcards, test questions and answers

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What is A Level Economics?

A Level Economics is a two-year course designed to prepare students for university study in the field of economics. It provides an introduction to the fundamental principles and theories that are used by economists as they analyze different economic situations. The A Level syllabus covers a range of topics including microeconomics, macroeconomics, international economics and public finance. In microeconomics, students learn how individuals make decisions regarding their consumption choices while considering the impact of taxes, subsidies and other forms of government intervention in markets. They also gain an understanding of supply and demand dynamics, price elasticity and market structures such as perfect competition and monopoly. In addition to studying individual decision making processes at play in markets, students will explore externalities associated with production/consumption activities such as pollution caused by factories and welfare economics (e.g., how changes in taxation affect consumer well-being). Macroeconomics focuses on the behavior of national economies around the world. Students learn about fiscal policy instruments used by governments to stimulate or slowdown economic growth; monetary policy tools used by central banks to manage inflation rates; exchange rate determination; balance of payments dynamics; long run economic growth theory; unemployment levels & trends; inequality measurements & policies among others topics related to national economies performance & stability over time periods from short term business cycles up through longer term secular trends etc.. International Economics introduces learners into global trade issues ranging from tariff protectionism mechanisms meant for stimulating domestic producers up through free trade agreements (FTA) between countries aiming towards eliminating barriers for cross border commerce opportunities benefiting all participants. As part of this topic focus areas include foreign direct investments (FDI), multinational corporations’ strategies based upon comparative advantages assessment aimed towards exploiting potential benefits from outsourcing parts/whole supply chains overseas etc.. Public Finance deals with public sector resource allocation decisions taking into account costs & benefit analysis outcomes when deciding which projects should be supported using tax payers hard earned money vs ones where private investors would step in due their expected higher returns relative risk profile assessments made beforehand…etc Overall A Level Economics offers great value adding educational background which prepares high school graduates looking forward starting university studies focusing upon economics subject matter preparedness enhancing future job market prospects significantly as well.