Edexcel B Theme 1: Markets, Consumers and Firms

The economic problem, business objectives, stakeholders and CSR

• 1.1.1 The Economic Problem
• 1.1.2 Business Objectives
• 1.1.3 Stakeholders and Their Objectives

Entrepreneurs, factors of production, specialisation and the wider economy

• 1.2.1 Role of an Entrepreneur
• 1.2.2 Entrepreneurial Motives
• 1.2.3 Factors of Production
• 1.2.4 Specialisation
• 1.2.5 The Wider Economic Environment

Demand, supply, price determination, market research and competition

• 1.3.1 Demand
• 1.3.2 Supply
• 1.3.3 Price Determination
• 1.3.4 Price Mechanism
• 1.3.5 Understanding the Consumer
• 1.3.6 The Competition

Banks, risk and liability, and sources of finance

• 1.4.1 Role of Banks in the Economy
• 1.4.2 Risk and Liability
• 1.4.3 Types and Sources of Credit

Externalities, intervention methods and government failure

• 1.5.1 Market Failure and Externalities
• 1.5.2 Government Intervention and Failure

Revenue and costs, break-even, profit margins and cash flow

• 1.6.1 Revenue and Costs
• 1.6.2 Break-Even Analysis
• 1.6.3 Profit and Loss
• 1.6.4 Business Survival and Cash Flow