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This resource consists of 47 professionally structured PowerPoint presentations containing comprehensive ALL Year 12 (AS Level) Economics notes, fully aligned with the latest AQA syllabus. The presentations provide thorough and systematic coverage of Topic 3.1: The Operation of Markets and Market Failure as well as 3.2 The national economy in a global context, ensuring candidates are well prepared for AQA AS examinations. The presentations are as follows;
3.1.1.1 Economic methodology
3.1.1.2 The nature and purpose of economic activity
3.1.1.3 Economic resources
3.1.1.4 Scarcity, choice and the allocation of resources
3.1.1.5 Production possibility diagrams
3.1.2.1 The determinants of the demand for goods and services
3.1.2.2 Price, income and cross elasticities of demand
3.1.2.3 The determinants of the supply of goods and services
3.1.2.4 Price elasticity of supply
3.1.2.5 The determination of equilibrium market prices
3.1.2.6 The interrelationship between markets
3.1.3.1 Production and productivity
3.1.3.2 Specialisation, division of labour and exchange
3.1.3.3 Costs of production
3.1.3.4 Economies and diseconomies of scale
3.1.3.5 Average revenue, total revenue and profit
3.1.4.1 Market structures
3.1.4.2 The objectives of firms
3.1.4.3 Competitive markets
3.1.4.4 Monopoly and monopoly power
3.1.4.5 The competitive market process
3.1.5.1 How markets and prices allocate resources
3.1.5.2 The meaning of market failure
3.1.5.3 Public goods, private goods and quasi-public goods
3.1.5.4 Positive and negative externalities in consumption and production
3.1.5.5 Merit and demerit goods
3.1.5.6 Market imperfections
3.1.5.7 An inequitable distribution of income and wealth
3.1.5.8 Government intervention in markets
3.1.5.9 Government failure
3.2.1.1 The objectives of government economic policy
3.2.1.2 Macroeconomic indicators
3.2.1.3 Uses of index numbers
3.2.2.1 The circular flow of income
3.2.2.2 Aggregate demand and aggregate supply analysis
3.2.2.3 The determinants of aggregate demand
3.2.2.4 Aggregate demand and the level of economic activity
3.2.2.5 Determinants of short-run aggregate supply
3.2.2.6 Determinants of long-run aggregate supply
3.2.3.1 Economic growth and the economic cycle
3.2.3.2 Employment and unemployment
3.2.3.3 Inflation and deflation
3.2.3.4 The balance of payments on current account
3.2.3.5 Possible conflicts between macroeconomic policy objectives
3.2.4.1 Monetary policy
3.2.4.2 Fiscal policy
3.2.4.3 Supply-side policies

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