Economics A-Level A2 Diagrams Checklist ☆

Italics = not necessary, but useful for top marks!

Microeconomics
• [x] micro equilibrium (demand and supply)
• [x] ppf
o [x] increased opportunity cost
o [x] constant opportunity cost
• [x] ped
o [x] perf inelastic
o [x] perf elastic
o [x] unit elastic
• [x] pes
o [x] perf inelastic
o [x] perf elastic
o [x] unit elastic
• [x] xed
o [x] close substitutes
o [x] weak substitutes
o [x] close complements
o [x] weak complements
• [x] law of diminishing returns
• [x] costs
o [x] average and marginal costs
o [x] short run
o [x] long run
• [x] average and marginal revenue
• [x] economies of scale
o [x] internal
o [x] external
o [x] L-shaped LRAC
• [x] perf comp
o [x] short run
o [x] long run
• [x] monopolistic comp
o [x] short run
o [x] long run
• [x] oligopoly
o [x] kinked demand curve
o [x] KDF + profit max
• [x] monopoly
o [x] profit max
 o [x] revenue max
o [x] sales max
• [x] price discrimination
o [x] 1st
o [x] 2nd
o [x] 3rd
• [x] efficiency
o [x] productive
o [x] allocative
• [x] cons and producer surplus
o [x] normal market
o [x] monopoly
• [x] kuznet’s curve
• [x] labour market
o [x] marginal productivity
o [x] market supply
o [x] perf comp
o [x] monopsony
o [x] trade unions
o [x] minimum wage
• [x] lorenz curve (not required to draw for AQA as of 2023)
• [x] externalities
o [x] positive cons → merit goods
o [x] negative cons → demerit goods
o [x] positive prod
o [x] negative prod
• [x] pricing
o [x] minimum
o [x] maximum
• [x] tax
o [x] ad valorem
o [x] regular
o [x] goods with negative consumption
o [x] goods with negative production
• [x] subsidy
o [x] goods with positive consumption
o [x] goods with positive production

Macroeconomics
• [x] macro equilibrium
• [x] circular flow of income
• [x] accelerator effect
 • [x] multiplier effect
• [x] economic growth and cycle
o [x] ppf
o [x] short run
o [x] long run
o [x] econ cycle
• [x] inflation
o [x] demand pull
o [x] cost push
• [x] deflation
o [x] malign
o [x] benign
• [x] output gap
o [x] positive
o [x] negative
• [x] monetary policy
o [x] contractionary
o [x] expansionary
o [x] liquidity trap
• [x] fiscal policy
o [x] contractionary
o [x] expansionary
o [x] laffer curve
• [x] supply-side policy
• [x] trade
o [x] comparative advantage
o [x] absolute advantage
o [x] J-curve (marshall lerner condition)
o [x] free trade
o [x] tariff

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