AQA A Level · 7136 · Paper 1: Markets and market failure
4.1.1.4 Free Market, Mixed and Command Economies
Also AQA AS 7135: 3.1.1.4
Everything you need for questions on economic systems, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- Three ways to answer what, how and for whom
- Free market economies
- Command economies
- The three thinkers (useful context: AQA does not name them)
- A classic chain
- Classic question: is the free market the best way to allocate resources?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- Market or state?
- Smith, Hayek or Marx?
- Demand for bikes suddenly doubles
- Free market, mixed or command?
- Market, state, or both?
- Build the chain
- Exam practice
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