Edexcel Theme 3: Business Behaviour and the Labour Market

Forms of growth, mergers and takeovers, constraints on growth

• 3.1.1 Sizes and Types of Firms
• 3.1.2 Business Growth
• 3.1.3 Demergers

Profit maximisation, revenue maximisation, other objectives

• 3.2.1 Business Objectives

Revenue, costs, economies of scale, normal/supernormal profits

• 3.3.1 Revenue
• 3.3.2 Costs
• 3.3.3 Economies and Diseconomies of Scale
• 3.3.4 Normal Profits, Supernormal Profits and Losses

Perfect competition, monopolistic competition, oligopoly, monopoly

• 3.4.1 Efficiency
• 3.4.2 Perfect Competition
• 3.4.3 Monopolistic Competition
• 3.4.4 Oligopoly
• 3.4.5 Monopoly
• 3.4.6 Monopsony
• 3.4.7 Contestability

Demand and supply of labour, wage determination, government intervention

• 3.5.1 Demand for Labour
• 3.5.2 Supply of Labour
• 3.5.3 Wage Determination in Competitive and Non-Competitive Markets

Regulation, competition policy, public ownership, privatisation

• 3.6.1 Government Intervention
• 3.6.2 The Impact of Government Intervention