Edexcel A Level Study guides, Class notes & Summaries

Absolute advantage - ANSWERSWhen a country's output of a product per unit of input is greater than that of any other country. Absolute poverty - ANSWERSWhen a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) - ANSWERSThe total demand/spending in an economy at a given price level over a given period of time. Made up of consumption, investment, government spending and net external demand. Aggregate Supply (AS) - ANSWERSThe total amount of goods...

Edexcel A Level Business Formulas Questions and Answers A+ Rating

Edexcel A Level Business Formulas Questions and Answers A+ Rating

Edexcel A-Level Economics Exam Update (Economic Definitions) 2023- 2024 Questions and Correct Answers Rated A+

Edexcel A-level Economics Theme 1 Exam Latest Update Questions and Correct Answers Rated A+

Total revenue or total expenditure - ANSWER-The amount of revenue generated from the sale of goods calculated by multiplying price by quantity in a given period of time Price elastic demand - ANSWER-A change in price results in a greater change in demand Price elasticity of demand - ANSWER-The responsiveness of demand to a change in price Price inelastic demand - ANSWER-A change in price results in a proportionately smaller change in demand Discretionary expenditure - ANSW

Total revenue or total expenditure - ANSWER-The amount of revenue generated from the sale of goods calculated by multiplying price by quantity in a given period of time Price elastic demand - ANSWER-A change in price results in a greater change in demand Price elasticity of demand - ANSWER-The responsiveness of demand to a change in price Price inelastic demand - ANSWER-A change in price results in a proportionately smaller change in demand Discretionary expenditure - ANSW

Labour turnover - ANSWER-number of employees leaving/total number of employees X 100 Average cost per unit - ANSWER-total production costs/total output Actual output/maximum possi

EDEXCEL A LEVEL JUNE 2024 POLITICS 9PL0 QUESTION PAPER 2

Edexcel A Level Government and Politics Paper 2 | Questions with 100% Correct Answers | Verified | Updated 2024