Economics WEC11/01 June 2019

Edexcel International AS/A Level Economics (WEC) Jun 2019

معلم موافق رایگان بودن است.

1. Positive and normative statements in public healthcare spending and policy targets; analysis of government budget allocation and African Union recommendations.
2. Carbon emissions trading scheme mechanics; objectives focusing on pollution reduction via tradeable permits between high and low polluting firms.
3. Market failure examples emphasizing externalities and government interventions like street lighting beyond social optimum and moral hazard in insured consumers.
4. Welfare analysis in education markets using marginal social benefit (MSB), marginal private benefit (MPB), and marginal private cost (MPC) curves; identification of social optimum and market equilibrium quantities and prices.
5. Cross-price elasticity interpretations distinguishing between substitute and complementary goods through demand shifts for Xbox and PlayStation consoles.
6. Price elasticity of supply estimates for agricultural commodities (corn, rice, wheat); implications for quantity supplied changes with price variations; elasticity magnitudes below one indicating inelastic supply.