Free market and Command Economy

Edexcel link for Economic thinkers

http://qualifications.pearson.com/content/dam/pdf/A%20Level/economics-a/2015/teaching-materials/Economic-thinkers-Theme-1-updated.pdf

Oligopoly

Why tacit collusion?

Tacit collusion is silent non traceable associated with price leadership.Kinked demand curve theory can be used to explain this.

http://www.tutor2u.net/economics/reference/oligopoly-tacit-collusion

Tutor2u has a good summary, case study video and powerpoint worth carefully looking at for the following exam type questions on overt collusion.

Overt or Explicit collusion between firms that is traceable means they have formed a cartel. A  cartel occurs when 2 or more firms enter into agreements to restrict the supply or fix the price of a good in a particular industry.The most famous example being OPEC (Organisation of Petroleum Exporting Countries). In the 1970s, OPEC tripled the price of oil because they controlled over 70% of the world’s oil supply. In the UK cartels are an example of restrictive trade practices and are illegal. 
- types and why engage in collusion
- what makes it easier
- why it make break down

http://www.tutor2u.net/economics/reference/oligopoly-collusion

A2 Monopolistic Competition

Using Tutor2U's excellent resource try to create am 8/16 mark exam question:

http://www.tutor2u.net/economics/reference/monopolistic-competition

Price Elasticity of Demand (PED)

Remember to consider the impact of changes in price on revenue.

Useful PAJ video here:

https://www.youtube.com/watch?v=hJIaiItHrpY

Additional Tutor2u video link here:

http://www.tutor2u.net/economics/reference/price-elasticity-of-demand

Derived demand and joint demand

Often overlooked - you need to be aware of derived demand and joint demand as factors that influence demand. Paj has a good video on this:

https://www.youtube.com/watch?v=KlnVTlRx4xA

Surpluses and Shortages

Surpluses and shortages are not in your November mock but will help you better understand why the equilibrium price is when supply equals demand, see short video on this tpic here:

https://www.youtube.com/watch?v=A59mPHj1rZI

Monetary Policy on pause.

The Financial Times today has 7 pages devoted to Mark Carney's announcement that interest rates are unlikely to be used for a while and that other monetary measures are now needed.

The following fro Tutor2u is an excellent summary of why inflation is likely to remain low:

http://beta.tutor2u.net/economics/blog/waiting-for-a-rate-move-uk-macro-analysis

What is Quantitative Easing:

http://www.bankofengland.co.uk/monetarypolicy/pages/qe/default.aspx


Crowding out and the loanable funds theory

https://www.youtube.com/watch?v=hucfTz4sPfU