GCSE Economics (AQA)

29 free revision lessons in 6 units. Open the course or go straight to a lesson.

Economic Foundations & Resource Allocation

The basic economic problem, the factors of production, opportunity cost, how markets allocate scarce resources, and the gains from specialisation, the division of labour and exchange.

1. The Economic Problem & Scarcity
2. The Factors of Production
3. Making Choices: Opportunity Cost
4. Markets & Economic Sectors
5. Specialisation, Division of Labour & Exchange

How Prices Are Determined

Demand and supply, how equilibrium price is set, what shifts each curve, the relationships between markets, and the price elasticity of demand and supply.

1. Demand
2. Supply
3. Market Equilibrium & the Price Mechanism
4. Relationships Between Markets
5. Price Elasticity of Demand & Supply

Production, Costs & Market Structures

Cost, revenue and profit, how production and productivity drive efficiency, economies of scale, and how competitive and concentrated market structures shape outcomes for firms, workers and consumers.

1. Cost, Revenue & Profit
2. Production, Productivity & Economies of Scale
3. Market Structures & Competitive Markets
4. Non-Competitive Markets: Monopoly & Oligopoly
5. The Labour Market

Market Failure

When markets misallocate resources — public and merit goods, positive and negative externalities, and the ways government intervenes to correct market failure.

1. Market Failure & the Misallocation of Resources
2. Externalities
3. Government Intervention to Correct Market Failure

The National Economy & Government Objectives

How interest rates shape saving, borrowing and investment, and the government's main economic objectives — growth, low unemployment, stable prices, a healthy balance of payments and a fair distribution of income.

1. Interest Rates, Saving, Borrowing & Investment
2. The Government's Economic Objectives
3. Economic Growth
4. Employment & Unemployment
5. Inflation & Price Stability
6. Balance of Payments & the Distribution of Income

Government Policy & the Global Economy

How government manages the economy through fiscal, monetary and supply-side policy, why countries trade, how exchange rates work, and the impact of free trade, the EU and globalisation.

1. Fiscal Policy
2. Monetary Policy
3. Supply-Side Policies
4. International Trade & Exchange Rates
5. Free Trade, the EU & Globalisation

How to revise Economics

• Retrieval Practice
• Spaced Repetition
• Interleaving
• Dual Coding
• Elaborative Interrogation
• Knowledge Organisers
• Timed Practice

All subjects