Edexcel A-Level Economics B
Explore your course, one topic at a time.
Explore your topics
88 topics
Markets and how they work23 topics
- The economic problem9 objectives
- Business objectives6 objectives
- Stakeholders (economic agents) and their objectives12 objectives
- Role of an entrepreneur in the economy9 objectives
- Entrepreneurial motives6 objectives
- Factors of production6 objectives
- Specialisation6 objectives
- The wider economic environment3 objectives
- Demand12 objectives
- Supply12 objectives
- Price determination15 objectives
- Price mechanism12 objectives
12 of 23 shown
Competing in the global economy24 topics
- Growth9 objectives
- Methods of growth6 objectives
- Research and development (R&D) and innovation15 objectives
- How the digital economy affects markets and firms12 objectives
- How small firms compete3 objectives
- Price elasticity of demand (PED)15 objectives
- Competing on price9 objectives
- Types of non-price competition6 objectives
- Income elasticity of demand (YED)12 objectives
- Productivity6 objectives
- Capacity utilisation12 objectives
- Efficiency and competitiveness using lean production12 objectives
12 of 24 shown
The economic environment and business19 topics
- Growing economies15 objectives
- Trade and growth12 objectives
- Trading blocs12 objectives
- Trade policy and trade negotiations6 objectives
- Exchange rate changes6 objectives
- Conditions that prompt trade15 objectives
- Assessing the potential of different economies6 objectives
- Responding to global demand12 objectives
- Demand-side factors in global markets9 objectives
- The impact of multinational corporations (MNCs)6 objectives
- Ethical issues15 objectives
- Controlling MNCs6 objectives
12 of 19 shown
Making markets work19 topics
- Spectrum of competition15 objectives
- Barriers to entry12 objectives
- Oligopoly12 objectives
- Business objectives and pricing decisions12 objectives
- Productive and allocative efficiency15 objectives
- Market failure6 objectives
- Business regulation18 objectives
- Arguments for and against regulation6 objectives
- Market failure in society18 objectives
- Externalities9 objectives
- Policies to deal with market failure6 objectives
- The AD/AS model18 objectives
12 of 19 shown
Quantitative skills1 topic
Accounting ratios1 topic
Assessment Objectives1 topic
About this course
About Pearson Edexcel A-Level Economics B
Pearson Edexcel A-Level Economics B is a theme-based course that explores how markets, the economy, and government policy interact in the real world. You will study four core themes: markets, consumers and firms; the wider economic environment; the global economy; and making markets work. The specification emphasises the application of economic theory to current issues, helping you understand the decisions made by consumers, businesses, and governments.
The course is structured to develop your analytical and evaluative skills, with a strong focus on using economic models and data to support arguments. You will examine topics such as competition, inequality, globalisation, and environmental sustainability. The qualification is linear, meaning you will sit all exams at the end of your two-year study, and it is assessed entirely through written examinations.
Assessment Structure
This qualification is assessed through three written exam papers, each worth 33.3% of the final grade. Paper 1 (Markets, Consumers and Firms) is 2 hours and 30 minutes and includes multiple-choice, short-answer, and extended-writing questions. Paper 2 (The Wider Economic Environment) is also 2 hours and 30 minutes and follows a similar format. Paper 3 (The Global Economy) is 2 hours and 30 minutes and includes a pre-released context and extended essays. All papers are marked out of 100, giving a total of 300 marks for the A-Level.
Why Choose Pearson Edexcel?
- Edexcel Economics B is highly relevant to real-world issues, with a focus on current economic events and data, making it engaging for students who want to understand the economy beyond theory.
- The course offers a clear and logical structure through its four themes, allowing students to build their knowledge progressively and apply it to different contexts.
- Edexcel provides a wide range of support materials, including past papers, mark schemes, and examiner reports, which are invaluable for exam preparation and understanding assessment requirements.
Frequently Asked Questions
What is the difference between Edexcel Economics A and Economics B?
How many exams do I take for Edexcel A-Level Economics B?
Is Edexcel Economics B accepted by universities?
What skills will I develop studying Economics B?
How can I prepare effectively for the Edexcel Economics B exams?
Assessment and exam guidance
What Gets Top Grades
Knowledge & Understanding
Demonstrates comprehensive and accurate knowledge
- Uses correct subject-specific terminology
- Shows detailed understanding of concepts
- Makes accurate connections between topics
- Demonstrates depth beyond surface-level knowledge
Application
Applies knowledge effectively to new contexts
- Selects relevant knowledge for the question
- Adapts understanding to unfamiliar scenarios
- Uses examples appropriately
- Shows awareness of context
Analysis & Evaluation
Develops sophisticated analytical arguments
- Constructs logical chains of reasoning
- Considers multiple perspectives
- Weighs evidence to reach justified conclusions
- Acknowledges limitations and nuances
Key Command Words
Give a single fact or term
Name, select, or recognise
Set out main features briefly
Give an account of what something is like or what happens
Give reasons with developed cause→effect chains
State similarities AND differences (both required)
Examine in detail showing cause→effect→consequence chains
Weigh up BOTH sides, reach JUSTIFIED conclusion
Make judgments about importance with justification
Show formula→substitution→calculation→answer with units
Tips and common mistakes
Common Exam Mistakes
Pitfalls to avoid in your exams
- •Confusing 'wants' with 'needs'. Needs are essential for survival and are finite, whereas wants are desires that are unlimited.
- •Stating that scarcity only affects developing economies or poor individuals. Scarcity is a universal problem that affects all economies and individuals, regardless of wealth, because wants always exceed available resources.
- •Defining scarcity simply as a 'shortage' of a specific good. A shortage is a temporary market disequilibrium, whereas scarcity is a permanent, fundamental condition of the universe.
- •Using 'trade-off' and 'opportunity cost' as exact synonyms. A trade-off refers to all the alternatives given up, whereas opportunity cost is specifically the value of the next best alternative forgone.
- •Assuming that trade-offs only apply to financial decisions. Trade-offs apply to the allocation of any scarce resource, including time, labour, and physical space.
- •Failing to identify the specific trade-off in an applied scenario. Always explicitly state what is being gained and what is being sacrificed when analysing a choice.
- •Defining opportunity cost as all alternatives forgone. Correction: It is only the next best alternative forgone.
- •Confusing opportunity cost with financial cost. Correction: Opportunity cost includes non-financial sacrifices, such as time or utility.
Top Examiner Tips
Expert advice for exam success
- •Always explicitly link the concept of finite resources to unlimited wants when defining the economic problem.
- •Use the term 'factors of production' when discussing finite resources to demonstrate precise economic vocabulary.
- •Be prepared to identify examples of scarcity in multiple-choice questions by looking for scenarios where demand outstrips available resources.
- •When evaluating a business decision, explicitly state the potential trade-offs to demonstrate analytical depth.
- •Look for multiple-choice options that highlight the sacrifice of one good or service for another when identifying trade-offs.
- •Use production possibility frontiers to visually illustrate trade-offs between two different goods in an economy.
- •Always include the phrase 'next best alternative forgone' when defining opportunity cost.
- •Be prepared to apply the concept of opportunity cost to a specific scenario provided in the stimulus material.
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