Economics A level combines trade and development, microeconomic and macroeconomic content. Learners will develop an understanding of economic concepts and theories by looking at current economic issues, problems, and institutions that affect everyday life, drawing on local, national, and global contexts. Learners will study the content areas below: • Scarcity and choice • Demand and supply in product markets • Demand and supply in labor markets • Resource allocation • Costs, revenues and profits • Market structures • Market failure. The course enables learners to develop an in-depth understanding of the role markets play and the way in which governments seek to manage them.