What this topic covers
The role of markets and money has 8 subtopics, including:
- The role of markets
- Demand
- Supply
- Price
- Competition
- Production
GCSE OCR Economics
The role of markets and money – GCSE OCR Economics revision notes
Revise The role of markets and money for GCSE OCR Economics, including The role of markets, Demand, Supply, and Price. 41 lessons across 8 subtopics.
The role of markets and money covers The role of markets, Demand, Supply, and Price in GCSE OCR Economics. 41 lessons in 8 subtopics.
41
Lessons
8
Subtopics
The role of markets and money lessons by subtopic
41 lessons, grouped by subtopic.
The role of markets
- Understanding Markets and Resource Allocation
- Factor vs. Product Markets
- Economic Sectors: Primary, Secondary, and Tertiary
- Understanding Specialisation and Division of Labour
- Costs and Benefits of Division of Labour
Demand
- Understanding Demand
- Factors Influencing Demand
- Drawing and Interpreting Demand Curves
- Introduction to Price Elasticity of Demand
- Factors Affecting and Measuring PED
- Implications of PED for Producers and Consumers
Supply
- Understanding Supply
- Drawing and Interpreting Supply Curves
- Understanding Price Elasticity of Supply
- Factors Affecting Price Elasticity of Supply
- Implications of Price Elasticity of Supply
Price
- Equilibrium Price and Market Clearing
- Using Supply and Demand Diagrams
- Complements and Substitutes: Understanding Market Connections
Competition
- Understanding Market Structures
- Understanding Competitive Markets
- Impact of Competition on Price and Choice
- Intro to Non-Competitive Markets
- Monopoly and Oligopoly: Impacts
Production
- Business Objectives and Costs
- Revenue and Profit Calculations
- The Importance of Cost, Revenue, and Profit: Ethical Considerations
- Introduction to Production and Productivity
- Factors Influencing and Benefits of Productivity
- Understanding Economies of Scale
- Types of Economies of Scale
- Diseconomies of Scale and Business Growth
The labour market
The role of money and financial markets
More in this course
Go back to the full GCSE OCR Economics topic list, or practise this topic with past-paper questions.
Frequently asked questions
Is this the right The role of markets and money page for my course?
These notes are for GCSE OCR Economics. If you are on a different exam board, choose your course from the Economics page instead, because the content is not always the same.
What should I do after reading the lessons?
Test yourself without the notes open, then try past-paper questions on the same topic. The questions you get wrong tell you which lesson to go back to.