This component is examined in A-Level Paper 1 for OCR Economics. You can find notes for it below:
Notes
Introduction to Microeconomics
The Role of Markets
- 2.1 Specialisation and trade
- 2.10 Public goods
- 2.11 Government intervention
- 2.2 Demand
- 2.3 Supply
- 2.4 Consumer and producer surplus
- 2.5 The interaction of markets
- 2.6 Elasticity
- 2.7 The concept of the margin
- 2.8 Market failure and externalities
- 2.9 Information failure
- Environment - an example of market failure