It can be really hard to get a grip on how the various EU bodies fit together. The European Commission is a little like the British Civil Service but, unlike in the UK it is able to propose legislation. In fact it is the only body that can introduce legislation. This legislation is then debated by both the EU Parliament and the Council of Ministers separately. They each determine their own position before coming together to agree, amend or reject the bill. They must reach agreement in order for it to become EU law. The Court of Auditors and the Court of Justice also have roles in overseeing the process and enforcing bills brought into law.
While you don't require a great amount of detail for Economics A-Level, it does come into AQA unit 4 if you choose to answer the European Union context question. The presentation below will lead you through in a little more detail. If you are using an iPad then you can still view it but you will need the Prezi app. You can find more information about it here.
Traditionally we assume that firms aim to profit maximise. For a perfectly competitive firm this will be true as they have no choice but monopolies are price makers and so could theoretically choose a point other than profit maximisation.
Monopolies feature at AS but at A Level you need to be able to draw a costs and revenues diagram to show the effect on price, quantity and efficiency. This presentation will take you through calculating the costs and revenues through to the diagram and the impact on welfare.
At AS it was acceptable just to refer to a market structure as either competitive or a monopoly. In reality there is a spectrum from perfect competition, the most competitive, through oligopolies to monopolies, where there is no competition. This presentation will take you through perfect competition step by step, including how to draw the diagram.
