Economic agents
What Economic agents means in Economics B A-Level, as defined for Pearson Edexcel.
Definitions of Economic agents
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Reference: Pearson Edexcel
Individuals, firms and governments, who must make decisions about how best to allocate scarce resources.
The term used in the section heading for stakeholders and the groups whose objectives are examined.
Those who cannot have everything they desire because resources are scarce and so must make choices.
Households and firms are the two main economic agents in the basic model.
Topics that use Economic agents
- Circular flow of income, expenditure and output (Pearson Edexcel A-Level)
- Stakeholders (economic agents) and their objectives (Pearson Edexcel A-Level)
- The economic problem (Pearson Edexcel A-Level)
Related terms
- Factors of production
- Trade-offs
- Aggregate demand
- Industrial action
- Injections
- Internal stakeholders
- Investment
- Macroeconomic equilibrium
Using Economic agents in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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