economics - gcse

Welcome to tutor2u's new collection of free revision notes for GCSE economics. These notes have been kindly provided by Peter Davies, Head of Economics at Mill Hill School, Ripley. Our intention is to provide the Web's best selection of GCSE Economics resources - so please bookmark this page and return frequently to see new materials as they are added.

To visit the GCSE Economics Discussion Board - Click Here

Key Terms - What the Examiner Needs You to Know

The Basics
Scarce Resources and Unlimited wants	Choice and Opportunity Cost
Factors of Production	Types of Production
Specialisation and the Division of Labour	Production, Distribution and Consumption
Past Exam Questions on The Basics

How Firms Work
Business Objectives	Competition
Monopoly	Types of Business Ownership
Sole Trader versus PLC	How do Businesses Grow? Takeovers and mergers
Types of Integration	Economies and Diseconomies of Scale
Location of Industry	Past Exam Questions on How Firms Work

How We Work
Efficiency	Labour Force
Wages and Salaries	Trade Unions
Minimum Wage	Stakeholders
Mobility and Immobility of Labour	Past Exam Questions on How We Work

How We Live
Social costs and Social Benefits	Sustainability
Standard of Living	Comparing the Standard of Living
Income, Wealth and Inequality	Regional Inequalities
Past Exam Questions on How We Live

Supply and Demand
Supply Curve	Demand Curve
Changes in price and demand	Price equilibrium and disequilibrium
Excess demand	Changes (shifts) in demand
Changes (shifts) in supply	Shifts and price (1)
Shifts and price (2)	Taxes, subsidies and the supply curve
Past Exam Questions on Supply and Demand

Money Money Money
Money supply and saving	Financial institutions
Interest rates	How do businesses raise money?
	Past Exam Questions on Money

The Finance of Business
Revenue and profit	What happens to profit?
Types of Costs	Average costs and the scale of production
Elasticity of Demand and Supply	Past Exam Questions on The Finance of Business

The Big Picture
Government objectives / targets	Economic growth
Circular flow of income	Trade cycle – booms and recessions
Unemployment – measurement and problems	Causes of unemployment and mobility of labour
Solving unemployment	Inflation – calculation and problems
Causes of inflation	Inflation & Housing Market
Solving inflation	Past Exam Questions on The Big Picture

Tools of the Trade
How the government tries to achieve its targets	Taxation
Why does the government collect tax?	Budget surplus / deficit
Taxes and disposable income	Aggregate demand and aggregate supply
Economic systems	Privatisation. Public sector, private sector
Effects of privatisation	Past Exam Questions on Tools of the Trade

International Trade & Europe
Introduction to International Trade	Exports and imports
Balance of payments	Protectionism, free trade and trade barriers
Exchange rates	Exchange Rate Movements
	Exchange rate systems
European Union and the Single Market	European Monetary Union
Past Exam Questions on International Trade

tutor2u is the leading global publisher of e-learning resources for Economics, Business, Politics, Enterprise, Law, Sociology, Religious Studies and related subjects. Our materials are used by over 3,500 schools and colleges in the UK and in educational institutions in over 85 other countries. tutor2u offers a range of free and subscription-based materials - designed to support teachers and inspire students. The business also runs a popular series of student revision workshops and teacher conferences. tutor2u was named Online Learning Resource of the Year at the prestigious BETT Show - the World's leading educational show.

Privacy & terms of Use
Our privacy policy is published here: www.tutor2u.net/privacy.asp. The terms of use of this website are set out here: www.tutor2u.net/terms.asp. " tutor2u" is a registered trade mark. The information contained on this website is copyright Tutor2u Limited. All rights reserved

Contact us
The sales team at tutor2u can be contacted by phone on 0844 800 0085. Orders can be faxed to 01937 529236. The office address is: Tutor2u Limited, Boston House, 214 High Street, Boston Spa, UK LS23 6AD To contact tutor2u by email, please use this form: Tutor2u - Contact Form

Teacher Newsletters & Subject Blogs
tutor2u publishes a variety of free teacher newsletters and blogs for our featured subjects. Teachers can access these materials here: Teacher Newsletters A daily RSS feed for each of our free subject blogs can be accessed here