Learn › Exam boards › Edexcel

Edexcel A-level Economics A

Theme 3: Business behaviour and the labour market

The Ceteris modules for Edexcel A-level economics, Business behaviour and the labour market, listed under each specification section. Each module teaches one idea, with questions through the page.

3.1 Business growth

Why a firm growsTell organic growth from a merger, and horizontal from verticalTell them apart · 6 min

3.3 Revenues, costs and profits

Fixed and variable costsSort a cost into fixed or variableTell them apart · 6 min · FreeAverage and marginal costWork out average and marginal cost from a total cost tableCalculation · 7 minEconomies of scaleSay what economies of scale are and name their sourcesConcept · 7 minTotal, average and marginal revenueWork out the three revenue measures from a demand scheduleCalculation · 7 minNormal and supernormal profitTell normal profit from supernormal profitTell them apart · 6 min

3.4 Market structures

Perfect competitionSay what makes a market perfectly competitiveConcept · 7 minHow a monopoly formsName the barriers to entry that create a monopolyConcept · 7 minMonopolistic competition and oligopolyTell the four market structures apartTell them apart · 6 minPrice discriminationSay what price discrimination is and what it needs to workConcept · 8 minMonopsonySay what a monopsony is and what it does to the wageConcept · 7 min

3.5 Labour market

The demand for labourSay why the demand for labour is derived demandConcept · 7 min · FreeThe supply of labourSay what moves the supply of labour to an occupationConcept · 7 minHow a wage is set in a competitive marketExplain how demand and supply settle a wageHow it works · 6 minWhy wages differ between jobsExplain why two jobs in one economy pay differentlyHow it works · 7 minMonopsonySay what a monopsony is and what it does to the wageConcept · 7 minDo trade unions raise wages?Weigh the case each way on union wage bargainingDebate · 6 minDoes a minimum wage cost jobs?Weigh the case each way on whether a minimum wage costs jobsDebate · 6 minDoes discrimination survive a competitive market?Weigh the case each way on labour-market discriminationDebate · 6 min

3.6 Government intervention

Is competition policy worth it?Weigh the case each way on breaking up a large firmDebate · 6 min