Economics

Overview

Framework:
Access to HE 2024
Level:
Level 3
Unit No:
Not available
Credits:
6
Guided learning hours:
Not available

Qualification Grading Type

Graded

For the full unit details, please download the latest version of the qualification specification. This is available for download on the relevant qualifications page.

Unit Learning Outcomes

To view the assessment criteria and any additional content, please expand the relevant learning outcome below.

1. — Know forces of supply and demand on businesses.

Assessment Criteria

  • 1.1.

    Know forces of supply and demand on businesses.

  • 1.2.

    Analyse specific forces of supply and demand on businesses.

2. — Understand Production Costs and Sales.

Assessment Criteria

  • 2.1.

    Explain Production Costs and Sales.

3. — Be able to produce a production and sales analysis for a specific purpose.

Assessment Criteria

  • 3.1.

    Produce a Production Costs and Sales analysis for a specific purpose.

4. — Understand how Governments control the economy.

Assessment Criteria

  • 4.1.

    Explain national budgetary measures.

5. — Be able to investigate commerce and trade.

Assessment Criteria

  • 5.1.

    Explain the terms commerce and trade for a specific business

  • 5.2.

    Analyse a business to identify trends, and opportunities for improvement.

  • 5.3.

    Prepare a national or local business budget for a two-year trend.

6. — Understand trading patterns and trading trends.

Assessment Criteria

  • 6.1.

    Explain a range of different trading patterns.

  • 6.2.

    Explain different trading trends.

  • 6.3.

    Analyse the effects of external factors on trading patterns and trading trends.