This new textbook covers the Introduction to Economic Understanding option in the new series of Edexcel Business for GCSE textbooks, which have been developed and written by the experienced examiner, curriculum developer and bestselling author, Ian Marcouse.

Edexcel Business for GCSE: Introduction to Economic Understanding is written in a lively and accessible manner, will ensure that you will study the correct topics to the appropriate level, and will motivate and prepare you to achieve the best possible results.

Key features of the text include:
- Numerous activities and exercises for classroom and homework use
- Lots of real life case studies and examples
- Tips and questions to help prepare you for the exam

This book is aimed at children in secondary school.

There are 160 pages in this book. This is a study guide book. This book was published 2010 by Hodder Education .

Ian Marcouse is an experienced teacher and the Founding Editor of Business Review magazine. Jonathan Brook is an examiner for a major awarding body, and an experienced teacher. Jo Farmer is an examiner for a major awarding body, and an experienced teacher. Nancy Wall is Editor of the EBEA magazine, an experienced author and a former examiner. Ian Marcouse is chair of strategy for a major awarding body, former chief examiner, bestselling author and consultant. Jonathan Brook is Head of Business Studies and Economics at Droitwich Spa High School.

This book has the following chapters: Section 1 How can I start thinking like an economist? What trade-offs exist? 1. Scarcity 2. Value 3. Opportunity cost Does raising or lowering price always work? 4. Price sensitivity and substitutes 5. Increasing revenue Do all stakeholders have the same perspective? 6. Conflicting stakeholders Are there any hidden costs or benefits? 7. Positive and negative externalities How can success be measured? 8. Measuring success 9. Gaining competitive advantage What causes business failure? 10. Losing competiveness 11. The importance of cash flow Section 2 Risk or certainty? What problems does the economy face? 12. Changing demand 13. Inflation 14. Unemployment 15. Shocks! How important are exchange rates? 16. Exchange rates Can the government solve economic and social problems? 17. Interest rates 18. Government spending and taxation Section 3 Big or small? How do businesses grow? 19. Internal and external business growth Why do businesses grow? 20. The benefits and drawbacks of business growth Monopoly power: good or bad? 21. The benefits and drawbacks of monopoly Can big businesses be controlled? 22. Regulation 23. Pressure groups Section 4 Is growth good? What is growth? 24. Gross domestic product Does growth improve the standard of living? 25. Standard of living Can growth be bad? 26. The benefits and drawbacks of growth Can growth be sustainable? 27. Renewable resources 28. Responsible businesses What can governments do? 29. Government intervention Section 5 Is the world fair? Is everybody equal? 30. Absolute and relative poverty Can international trade help? 31. International trade and LEDCs 32. Trade restrictions 33. Single European Market 34. Multinational organisations Is there any other help? 35. International government 36. Charities and NGOs Index