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Guide Issue 2  \nPearson Edexcel Level 3 Advanced GCE in Economics B (9EB0)  \nPlease note: Information within this document relating to AS Level Economics B is no longer applicable because the qualification is no longer available  \nGetting Started: A level in Economics B 2015  \nContents  \n1 . Introduction 1  \n1.1 Research and key principles 1  \n1.2 Support for the new specifications 2  \n2 . What’s changed? 4  \n2.1 How have AS and A level changed? 4  \nChanges to AS and A level qualifications 4  \nChanges to subject criteria 4  \nChanges to Assessment Objectives 6  \n2.2 Changes to the Pearson Edexcel AS and A level Economics B specifications 7  \nSpecification overview 7  \nChanges to specification content 9  \nChanges to assessment 11  \n3 . Planning 13  \n3.1 Planning and delivering linear AS and A level courses 13  \n3.2 Delivery models 13  \n3.3 Co-teaching AS and A level 14  \n3.4 Suggested resources 14  \n4 . Content guidance 15  \nTheme 1: Markets, consumers and firms 15  \n1.1.1 The economic problem 15  \n1.1.2 Business objectives 15  \n1.1.3 Stakeholders (economic agents) and their objectives 16  \n1.2.1 Role of an entrepreneur in the economy 17  \n1.2.2 Entrepreneurial motives 18  \n1.2.3 Factors of production 18  \n1.2.4 Specialisation 19  \n1.2.5 The wider economic environment 19  \n1.3.1 Demand 20  \n1.3.2 Supply 20  \n1.3.3 Price determination 21  \n1.3.4 Price mechanism 21  \n1.3.5 Understanding the consumer 22  \n1.3.6 The competition 22  \n1.4.1 Role of banks in the economy 23  \n1.4.2 Risk and liability 24  \n1.4.3 Types and sources of credit and the impact of credit within the  \neconomy 24  \n1.5.1 Market failure and externalities 25  \n1.5.2 Government intervention and failure 26  \n1.6.1 Revenue and costs 26  \n1.6.2 The relationship between revenue and costs 26  \n1.6.3 Profit and loss 27  \n1.6.4 Business survival and cash flow 27  \nTheme 2: The wider economic environment 28  \n2.1.1 Growth 28  \n2.1.2 Methods of growth 29  \n2.1.3 Research and development (R&D) and innovation 29  \n2.1.4 How the digital economy affects markets and firms 30  \n2.1.5 How small firms compete 31  \n2.2.2 Competing on price 32  \n2.2.3 Types of non-price competition 33  \n2.2.4 Income elasticity of demand (YED) 34  \n2.3.1 Productivity 34  \n2.3.2 Capacity utilisation 35  \n2.3.3 Efficiency and competitiveness using lean production 36  \n2.3.4 Impact on costs and sales revenue 37  \n2.4.1 Globalisation 37  \n2.4.2 Developed, emerging and developing economies 38  \n2.4.3 International trade 38  \n2.4.4 Exchange rates 39  \n2.5.1 The economic cycle 39  \n2.5.2 Circular flow of income, expenditure and output 40  \n2.5.3 Inflation 41  \n2.5.4 Employment and unemployment 41  \n2.6.1 Possible macroeconomic objectives 43  \n2.6.2 Policy instruments 43  \n2.6.3 Potential policy conflicts and trade-offs 44  \nTheme 3: The global economy 46  \n3.1.1 Growing economies 46  \n3.1.2 Trade and growth 46  \n3.1.3 Trading blocs 47  \n3.1.4 Trade policy and trade negotiations 47  \n3.1.5 Exchange rate changes 48  \n3.2.1 Conditions that prompt trade 48  \n3.2.2 Assessing the potential of different economies 49  \n3.3.1 Responding to global demand 49  \n3.3.2 Demand-side factors in global markets 50  \n3.4.1 The impact of multinational corporations (MNCs) 51  \n3.4.2 Ethical issues 52  \n3.4.3 Controlling MNCs 52  \n3.5.1 Employment patterns 53  \n3.5.2 Wage rates 53  \n3.5.3 Minimum wage legislation 54  \n3.6.1 Poverty and inequality 55  \n3.6.2 Reducing poverty 55  \n3.6.3 The impact of inequality on economic agents 56  \n3.6.4 Re-distribution of income and wealth 56  \nTheme 4: Making markets work 57  \n4.1.1 Spectrum of competition 57  \n4.1.2 Barriers to entry 58  \n4.1.3 Oligopoly 58  \n4.1.4 Business objectives and pricing decisions 59  \n4.1.5 Productive and allocative efficiency 59  \n4.2.1 Market failure 60  \n4.2.2 Business regulation 61  \n4.2.3 Arguments for and against regulation 62  \n4.3.1 Market failure in society 63  \n4.3.2 Externalities 64  \n4.3.3 Policies to deal with marke","cbCaidGpvonNh9We","https://ap.wps.com/l/cbCaidGpvonNh9We","pdf",1268641,92,"English","# Introduction\n## Research and key principles\n## Support for the new specifications\n# What’s changed?\n## How have AS and A level changed?\n## Changes to the Pearson Edexcel AS and A level Economics B specifications\n# Planning\n## Planning and delivering linear AS and A level courses\n## Delivery models\n## Co-teaching AS and A level\n## Suggested resources\n# Content guidance\n## Theme 1: Markets, consumers and firms\n## Theme 2: The wider economic environment\n## Theme 3: The global economy\n## Theme 4: Making markets work\n# Assessment guidance\n## Implications of linear assessment\n## AS level assessment\n## A level assessment\n## Question types\n## Taxonomy (command words)\n## Mark schemes\n# Quantitative skills\n## Application of quantitative skills\n# Transferable skills\n## The need for 21st century skills\n# Economics B and the EPQ","[{\"question\":\"Why is information about AS Level Economics B no longer applicable?\",\"answer\":\"The document states that information within it relating to AS Level Economics B is no longer applicable because the qualification is no longer available.\"},{\"question\":\"What topics does the guide cover under content guidance?\",\"answer\":\"It structures content guidance into themes covering markets and firms, the wider economic environment, the global economy, and making markets work, with detailed subtopics under each theme.\"},{\"question\":\"How does the guide support teaching and delivery?\",\"answer\":\"It includes sections on planning, delivering linear AS and A level courses, delivery models, co-teaching approaches, and suggested resources.\"}]","Getting Started Guide - Issue 2 - A level Economics B 2015 | PDF",1792462548,232]