Edexcel IAL Unit 1

Edexcel International A-Level Unit 1: Markets in Action introduces the fundamental principles of microeconomics and how markets operate. The course covers scarcity, opportunity cost and economic decision-making, followed by consumer behaviour, demand, supply and elasticity.

You will examine how prices are determined in markets and develop their understanding of market failure, externalities and government intervention. The course provides a strong foundation in analysing how changes in incentives, prices and government policies affect consumers, producers and the allocation of resources.