Theme 3 Edexcel A Economics A Level Resources

The resources below for theme 3 are created by Tom Furber, an A-Level Economics tutor. They include practice questions, model answers, content notes and more.

Resources (model answers, diagrams and further practice questions)

Full practice paper for Paper 1 [Features the water industry, covers theme 1 and theme 3] | Section B model answers.

Practice question for section B, theme 3 only. [Case study on Google and internet search]

Model answers to the 2024 Paper 1 exam

25 marker model answer [monopoly]

25 marker model answer [minimum wage]

25 marker model answer [policies to intervene in market power]

Multiple choice quiz for theme 3

All key Edexcel Economics A micro diagrams [theme 1 and theme 3]

Detailed content notes

Below are my detailed notes for theme 3, designed for students aiming for A / A* grades. Are you looking for help with understanding theme 3 content or exam technique? Then please check out my A-Level Economics tutoring.

3.1.1 Types and size of firms

3.1.2 Business growth

3.1.3 Demergers

3.2.1 Business objectives

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 (including the effect of shifts on cost-revenue diagrams).

3.4.2 Perfect competition

3.4.3 Monopolistic competition

3.4.4 Oligopoly

3.4.5 Part 1 – monopoly

3.4.5 Part 2 – price discrimination

3.4.6 Monopsony

3.4.7 Contestability

3.5.1 Demand for labour

3.5.2 Supply of labour

3.5.3 Wage determination and current labour market issues