Edexcel Business for GCSE
Introduction to Economic Understanding

By Ian Marcouse, et al.
December 2010
Hodder Education
ISBN: 9781444107937
Distributed by Trans-Atlantic Publications
153 pages, Illustrated
$42.50 Paper original

This new textbook covers the Introduction to Economic Understanding option in the new series of Edexcel Business for GCSE textbooks, which have been developed and written by the experienced examiner, curriculum developer and bestselling author, Ian Marcousé.

Edexcel Business for GCSE: Introduction to Economic Understanding is written in a lively and accessible manner, will ensure that you will study the correct topics to the appropriate level, and will motivate and prepare you to achieve the best possible results.

Key features of the text include:
Numerous activities and exercises for classroom and homework use
Lots of real life case studies and examples
Tips and questions to help prepare you for the exam
Accompanying Dynamic Learning Teacher's Resource provides answers, interactive activities and teaching advice.

Table of Contents:
Section 1 How can I start thinking like an economist?
What trade-offs exist?
1. Scarcity
2. Value
3. Opportunity cost
Does raising or lowering price always work?
4. Price sensitivity and substitutes
5. Increasing revenue
Do all stakeholders have the same perspective?
6. Conflicting stakeholders
Are there any hidden costs or benefits?
7. Positive and negative externalities
How can success be measured?
8. Measuring success
9. Gaining competitive advantage
What causes business failure?
10. Losing competiveness
11. The importance of cash flow
Section 2 Risk or certainty?
What problems does the economy face?
12. Changing demand
13. Inflation
14. Unemployment
15. Shocks!
How important are exchange rates?
16. Exchange rates
Can the government solve economic and social problems?
17. Interest rates
18. Government spending and taxation
Section 3 Big or small?
How do businesses grow?
19. Internal and external business growth
Why do businesses grow?
20. The benefits and drawbacks of business growth
Monopoly power: good or bad?
21. The benefits and drawbacks of monopoly
Can big businesses be controlled?
22. Regulation
23. Pressure groups
Section 4 Is growth good?
What is growth?
24. Gross domestic product
Does growth improve the standard of living?
25. Standard of living
Can growth be bad?
26. The benefits and drawbacks of growth
Can growth be sustainable?
27. Renewable resources
28. Responsible businesses
What can governments do?
29. Government intervention
Section 5 Is the world fair?
Is everybody equal?
30. Absolute and relative poverty
Can international trade help?
31. International trade and LEDCs
32. Trade restrictions
33. Single European Market
34. Multinational organisations
Is there any other help?
35. International government
36. Charities and NGOs




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