Cambridge A-level Economics Year 12 revision

Topic 1: Basic economic ideas and resource allocation

It builds on what you learned at IGCSE in The basic economic problem, and takes it further.

There are 6 parts: we start with scarcity, choice, opportunity cost and production possibility frontiers, and finish with merit and demerit goods.

1. 1.1Scarcity, choice, opportunity cost and production possibility frontiers43 questions
2. 1.2Economics as a social science: positive and normative statements, ceteris paribus and the scientific method21 questions
3. 1.3Factors of production, specialisation, division of labour, trade and money27 questions
4. 1.4Economic systems: free market, mixed and command economies and the allocation of resources24 questions
5. 1.5Public goods, quasi-public goods and the free-rider problem32 questions
6. 1.6Merit and demerit goods27 questions

Topic 2: The price system and the microeconomy

It builds on what you learned at IGCSE in The allocation of resources, and takes it further.

There are 8 parts: we start with the economic problem and price determination, and finish with consumer and producer surplus.

1. 2.1The economic problem and price determinationFree 13 questions
2. 2.2Price elasticity of demand: calculation, determinants and total revenue22 questions
3. 2.3Income and cross elasticity of demand23 questions
4. 2.4Price elasticity of supply: calculation and determinants25 questions
5. 2.5Joint, composite and derived demand; competitive supply31 questions
6. 2.6The price mechanism: rationing, signalling and incentive functions27 questions
7. 2.7Changes in market equilibrium and the effects on price, quantity and resource allocation36 questions
8. 2.8Consumer and producer surplus27 questions

Topic 3: Government microeconomic intervention

It builds on what you learned at IGCSE in The allocation of resources, and takes it further.

There are 7 parts: we start with types of market failure and welfare loss, and finish with measuring income and wealth distribution.

1. 3.1Types of market failure and welfare lossFree 41 questions
2. 3.2Externalities: negative and positive externalities in production and consumption28 questions
3. 3.3Information failure and asymmetric information33 questions
4. 3.4Indirect taxes and subsidies: effects, incidence and evaluationFree 27 questions
5. 3.5Maximum and minimum price controls24 questions
6. 3.6Provision of information, nudges and direct provision of goods and services34 questions
7. 3.7Measuring income and wealth distribution: Lorenz curve, Gini coefficient and poverty33 questions

Topic 4: The macroeconomy

It builds on what you learned at IGCSE in Government and the macroeconomy, and takes it further.

There are 15 parts: we start with macroeconomic objectives and indicators of economic performance, and finish with measuring inflation.

1. 4.1Macroeconomic objectives and indicators of economic performance58 questions
2. 4.2Measuring economic growth: GDP, GNI, real vs nominal, per capita and PPP28 questions
3. 4.3The circular flow of income, injections and withdrawalsFree 64 questions
4. 4.4Aggregate demand: components and the AD curve48 questions
5. 4.5Aggregate supply: short-run and long-run AS and factors shifting them31 questions
6. 4.6Macroeconomic equilibrium: Keynesian and classical views of LRAS65 questions
7. 4.7The multiplier effect61 questions
8. 4.8Measuring performance and AD/ASFree 13 questions
9. 4.9Causes of economic growthFree 31 questions
10. 4.10Costs and benefits of economic growth33 questions
11. 4.11Actual and potential growth, output gaps and the economic cycle26 questions
12. 4.12Unemployment: types, causes and effects66 questions
13. 4.13Measuring employment and unemployment: claimant count, Labour Force Survey and inactivity60 questions
14. 4.14Causes and effects of inflation, deflation and disinflation55 questions
15. 4.15Measuring inflation: CPI, RPI, price indices, weights and limitations53 questions

Topic 5: Government macroeconomic intervention

It builds on what you learned at IGCSE in Government and the macroeconomy, and takes it further.

There are 6 parts: we start with economic policy, and finish with supply-side policies.

1. 5.1Economic policy11 questions
2. 5.2Policy objectives, conflicts and trade-offsFree 32 questions
3. 5.3Fiscal policy: government spending, taxation, budget deficits and national debt75 questions
4. 5.4Monetary policy: interest rates, inflation targeting, the MPC and transmission mechanism58 questions
5. 5.5Supply-side policies: market-based approaches29 questions
6. 5.6Supply-side policies: interventionist approaches35 questions

Topic 6: International economic issues

It builds on what you learned at IGCSE in International trade and globalisation, and takes it further.

There are 3 parts: we start with the balance of payments and the current account, and finish with exchange rates and their effect on the economy.

1. 6.1The balance of payments and the current account29 questions
2. 6.2Causes and consequences of current account deficits and surpluses18 questions
3. 6.3Exchange rates and their effect on the economy62 questions

Other exam boards