1.The role of markets in allocating resources

2.Demand

2.Demand

3.Supply

4.Price determination

5.Price changes

5.Price changes

6.Price elasticity of demand (PED)

7.Price elasticity of supply (PES)

8.Market economic system

9.Market failure

1.Money and banking

2.Households and workers

3.Firms

4.Firms and production

5.Firms’ costs, revenue and objectives

6.Types of markets

1.Government macroeconomic intervention

2.Fiscal policy

3.Monetary policy

4.Supply-side policy

5.Economic growth

6.Employment and unemployment

7.Inflation

1.Living standards and Poverty

2.Population

3.Differences in economic development between countries

1.Specialisation and free trade

2.Globalisation and trade restrictions

3.Foreign exchange rates

4.Current account of the balance of payments