A Level Economics AS & A2

Learners will learnt about different types of elasticity being price elasticity, income elasticity and cross elasticity of demand (PED, YED, XED). Learners will be exposed to more how to apply the knowledge above by discussing the significance of relative percentage changes and the size and sign of the coefficient.

Price elasticity of supply will be discussed as well as the interaction between demand and supply curve.

Definition and significant of consumer surplus and supplier surplus will be discussed at the end of the topic