Understanding Microeconomics Ncea L3 Workbook

Description

This full colour edition has been updated with new content and activities to assist students with developing the knowledge and skills they need for assessments (external and internal). Students will build up their confidence by completing the range of additional review (examination) questions contained in this latest version.

A Teacher Resource book is also available for separate purchase which contains full answers to this workbook. ISBN 9780170438100

Table of contents

AS 91401: Demonstrate understanding of micro-economic concepts (internal 3.3) 1. Marginal utility and demand 2. Elasticity of demand (also part of 3.1) 3. Elasticity of supply (also part of 3.1) 4. Diminishing returns and supply (also part of 3.2) 5. Role of prices (i) market equilibrium (also part of 3.1) 6. Role of prices (ii) and profits (also part of 3.1) AS 91399: Demonstrate understanding of efficiency of market equilibrium (external 3.1) 7. Consumer surplus/producer surplus 8. Allocative efficiency 9. Sales tax and AE 10. Subsidy and AE 11. Maximum price and AE 12. Minimum price and AE 13. Free trade and AE 14. Protectionism and AE 15. Revision/study tasks and activities AS 91400: Demonstrate understanding of efficiency of different market structures using marginal analysis (external 3.2) 16. Costs – basic concepts 17. Costs – shape of the curves 18. Revenue curves – perfect competition 19. Profit 20. Marginal analysis – perfect competition 21. Revenue curves – monopoly 22. Marginal analysis – monopoly 23. Firms and price 24. Natural monopoly 25. The long run position 26. Revision/study tasks and activities