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In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
The A-level (Advanced Level) is a subject-based qualification conferred as part of the General Certificate of Education, as well as a school leaving qualification offered by the educational bodies in the United Kingdom and the educational authorities of British Crown dependencies to students completing secondary or pre-university education. [1]
A 2007 report by Robert Coe compared students' scores in the ALIS ability test with equivalent grades achieved in A-level exams over a period of approximately 20 years; he found that students of similar ability were achieving on average about 2 grades higher than in the past. In the case of maths it was nearer to 3.5 grades higher. [42]
[6] [7] In the absence of trade, each country produces one unit of cloth and one unit of wine, i.e. a combined total production of 2 units of cloth and 2 units of wine. Here, if The UK commits all of its labor (80+100) for the production of cloth for which The UK has the absolute advantage, The UK produces (80+100)÷80=2.25 units of cloth.
This is a list of Advanced Level (usually referred to as A-Level) ... Economics and Business [11] Engineering [9] General Studies [7] [9] Global Development (AS) [12] [9]
Most exam boards offer a range of qualifications, though not all boards offer every qualification in every subject. Schools and colleges have a completely free choice between the boards, depending on the qualification offered. Most schools use a mixture of boards for their GCSE qualifications, with a similar mixture existing at A Level.
In June, Paper 3 of the Mathematics GCSE (Higher Tier, 1MA1/03) appeared to contain an exam question which was published in an AQA (another British exam board) Further Mathematics textbook. The exam question had the same diagram, values and answer as the question in the textbook. Pearson Edexcel said that they were investigating how this might ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".