Cambridge International as and a level Economics Ebook

Paper 1 
Paper 2
Weight: AS Level
A 
Level
40%
20%
60%
30%
Method of assessment
Multiple-choice
Data-response
Structured essay
Time allowed
1 hour
1½ hours
Advanced Level
Paper 3
Paper 4
Weight: A Level
15%
35%
Method of assessment
Multiple-choice
Data-response
Essay
Time allowed
1¼ hour
2¼ hour
Table 4 
Cambridge International AS and A Level Economics: qualifications and assessment
10
Cambridge International AS and A Level Economics

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that is, once behaviour has been optimised any change will 
be detrimental as long as conditions remain the same.
■
Equilibrium and eff iciency: 
Prices are set by markets, are 
always moving in to and out of equilibrium and can be both 
eff icient and ineff icient in diff erent ways and over diff erent 
time periods.
■
Regulation and equity: 
There is a trade-off between, 
on the one hand, freedom for firms and individuals in 
unregulated markets and, on the other hand, greater social 
equality and equity through the government regulation of 
individuals and markets.
■
Progress and development: 
Economics studies how 
societies can progress in measurable money terms and 
develop in a more normative sense.
Self-assessment task 3 provides you with an early 
opportunity to think about these concepts but you will 
become much more familiar with them as you progress 
through this book.
Chapter 11
 provides important advice on examination 
skills and how to prepare for examinations. Do study this 
carefully before you take any examination papers.
As you work systematically through the AS Level and 
A Level chapters, try to tackle all the self-assessment tasks. 
In this way you will become increasingly familiar with the 
content of Economics and the sort of assessments used 
by Cambridge.