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Edexcel A Level Economics all Diagrams Study Guide 2024/2025

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Production Possibility Frontier - ANSWERS Supply and demand diagram showing equilibrium - ANSWERS Supply and demand surplus - ANSWERS Increase in demand - ANSWERS Decrease in demand - ANSWERS Increase in supply - ANSWERS Decrease in supply - ANSWERS Consumer surplus - ANSWERS Producer surplus - ANSWERS Inelastic demand - ANSWERS Elastic demand - ANSWERS Unitary elastic demand - ANSWERS Perfectly elastic demand - ANSWERS Perfectly inelastic demand - ANSWERS Inelastic supply - ANSWERS Elastic supply - ANSWERS Substitutes diagram - ANSWERS Ad valorem tax - ANSWERS Tax diagram - ANSWERS Subsidy diagram - ANSWERS Negative externality of consumption - ANSWERS Negative externality of production - ANSWERS Positive externality of consumption - ANSWERS Positive externality of production - ANSWERS Maximum price diagram - ANSWERS Minimum price diagram - ANSWERS Total Revenue, Average Revenue and Marginal Revenue - ANSWERS Total, Average and Marginal Product - ANSWERS Average, Fixed and Variable Costs - ANSWERS Economies of Scale - ANSWERS Perfect Competition - ANSWERS Short run and long run equilibrium in perfect competition - ANSWERS Long Run Equilibrium for Monopolistically Competitive Firm - ANSWERS Revenue Curve for a Monopolist - ANSWERS Abnormal profit for Monopolist - ANSWERS Price Discrimination - ANSWERS Monopsony - ANSWERS Profit maximisation, revenue maximisation, sales maximisation - ANSWERS Allocative Efficiency - ANSWERS Productive Efficiency - ANSWERS Deadweight Loss from Monopoly - ANSWERS Subsidising a Monopolist - ANSWERS Backward bending labour supply curve - ANSWERS Supply and Marginal Cost Curve facing a monopsonist employer - ANSWERS Trade Union v Monopsonist Employer - ANSWERS Minimum Wage for Labour - ANSWERS Maximum Wage - ANSWERS Business cycle - ANSWERS Increase in aggregate demand - ANSWERS Decrease in aggregate demand - ANSWERS Increase in aggregate supply - ANSWERS Decrease in aggregate supply - ANSWERS Positive output gap - ANSWERS Negative output gap - ANSWERS Demand-side shock - ANSWERS Supply-side shock - ANSWERS Phillips curve - ANSWERS Laffer curve - ANSWERS Lorenz curve - ANSWERS J-curve - ANSWERS Comparative advantage - ANSWERS

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