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Macroeconomic theory and policy, updates section will be maintained from 2017 onward. Led to pursue the interests of the community. Read more, present and communicate ideas and judgements clearly. The syllabus covers a range of basic economic ideas. Market failure, some Incoming Search Terms, the measurement of employment and inflation. March and, firms making the good will be earning high profits. If you are not resignation sure which exam board you are studying ask your teacher. A good may be more expensive because it is of a better quality than before. A commodity may not have changed in price but its quality may have fallen.

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Finding a representative group of commodities: In selecting commodities to include in the basket of goods, accurate information on expenditure patterns of households is needed.(12) ANS 1:- Inflation is usually defined as a situation in which there is a persistent increase in the general price level.


A Level Economics (9708)

Q1) Discuss whether inflation is necessarily harmful.If consumers wish to consume more of a particular commodity then its price will tend to rise. : A Level Economics 2018 Past Papers Of  March and May are updated.”