Edexcel Economics A Theme 1: Introduction to markets and market failure

This book is intended as both a revision guide and student notes for Edexcel Economics A Theme 1: Introduction to markets and market failure

Topics covered: basic economic problem, factors of production, opportunity cost, economic systems, demand/supply, market clearing, elasticities, incidence of taxation, market failure, public goods, private goods.

Detailed examples of market failure covered: road pricing, healthcare, higher education, new airports and runways, buffer stock schemes, agriculture, pollution, fishing.

Although mainly aimed at the Edexcel A Level syllabus it may also have relevance for other students on other economics courses post-16 or degree level.