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Pearson EdexcelQualificationsPEARSON EDEXCEL INTERNATIONAL A LEVELECONOMICSSTUDENT BOOK 2KAREN BORRINGTONTRACEY JOADPPEARSON EDEXCEL INTERNATIONAL A LEVELECONOMICSStudent Book 2Karen BorringtonTracey JoadPublished by Pearson Education Limited,80 Strand,London,WC2R ORL.Pressmaster/Shutterstock;108(bl)Shutterstock:Rainer Plendl/Shutterstock;110123RF:HONGQI ZHANG/123RF:111 Shutterstock:Michaeljung/Shutterstock;www.pearsonglobalschools.com113 Getty Images:Hero Images/Getty Images:114 Shutterstock:Jacob Lund/Shutterstock:119 Shutterstock:Langstrup/Shutterstock:121 (ml)PearsonCopies of official specifications for all Pearson Edexcel qualifications may be foundEducation Ltd:Jules Selmes/Pearson Education Ltd:121 (bl)Shutterstock:on the website:https://qualifications.pearson.comDW labs Incorporated/Shutterstock;125 123RF:Rainer Plendl/123RF;130(tl)Shutterstock:Andrey Arkusha/Shutterstock;130 123RF:123RF:130Text Pearson Education Limited 2019(tr)Shutterstock:Vankad/Shutterstock;130(mr)Shutterstock:Rob Byron/Designed by Pearson Education Limited 2019Shutterstock;134 123RF:Derege/123RF:136 (ml)Shutterstock:HeikoTypeset by Evolution Design Digital Ltd(Kent)Kueverling/Shutterstock;136(bl)Shutterstock:Eyeidea/Shutterstock:138 123RF:Original illustrations Pearson Education Limited 2019Kzenon/123RF:139 123RF:Mark Bowden/123RF:140 Getty Images:RoBeDeRovEdited by Andrea Davison,Judith Shaw and Steph WhiteE+/Getty Images;149 123RF:Somsak Sudthangtum/123RF:157 Getty Images:Cover design by Pearson Education Limited 2019Nisa and Ulli Maier Photography/Moment/Getty Images:164 (tl)Shutterstock:Picture research by IntegraDmitry Kalinovsky/Shutterstock;164 (br)Shutterstock:Rzoze19/Shutterstock;165Cover photo Thomas Winz/Lonely Planet Images/Getty Images.123RF:Natalia Bratslavsky/123RF:175 Shutterstock:Vacclav/Shutterstock:176Inside front cover photo:Shutterstock.Dmitry LobanovGetty Images:Anucha sirivisansuwan/Moment/Getty Images:181 Shutterstock:Senk/Shutterstock:184 Pearson Education Ltd:Studio 8/Pearson EducationThe rights of Karen Borrington and Tracey Joad to be identified as authors of thisLtd:187 Shutterstock:Dmitry Kalinovsky/Shutterstock;193 Shutterstock:work have been asserted by them in accordance with the Copyright,Designs andSamot/Shutterstock;199 Shutterstock:Siriwat sriphojaroen/Shutterstock:200Patents Act 1988.Shutterstock:54115341/Shutterstock;209 Shutterstock:Delpixel/Shutterstock;211 Shutterstock:Donvictorio/Shutterstock:222 Getty Images:Thitivong/First published 2019Stock/Getty Images Plus/Getty Images;227 Shutterstock:Paul CowanShutterstock:230 Shutterstock:Patrick Foto/Shutterstock:231 Shutterstock22212019Orhan Cam/Shutterstock:232 Shutterstock:Mark Van Overmeire/Shutterstock;10987654321237 Shutterstock:Pavel Shlykov/Shutterstock:240 Shutterstock:Pavel llyukhin/Shutterstock;242 Shutterstock:Javarman/Shutterstock;243 Shutterstock:British Library Cataloguing in Publication DataMentatdgt/Shutterstock:246 Shutterstock:Photoinnovation/Shutterstock;248A catalogue record for this book is available from the British LibraryShutterstock:Vladimir Korostyshevskiy/Shutterstock;251 Shutterstock:Graja/Shutterstock:261 Getty Images:Puneet Vikram Singh,Nature and Concept1SBN9781292239187photographer/Moment/Getty Images;266 Shutterstock:Lazyllama/Shutterstock;269 Shutterstock:TheFinalMiracle/Shutterstock;272 Shutterstock:Jose MiguelCopyright noticeHemandez Leon/Shutterstock;280 Shutterstock:Wong yu liang/Shutterstock;All rights reserved.No part of this publication may be reproduced in any form or by281 Shutterstock:Luciano Mortula-LGM/Shutterstock;282 Getty Images:any means (including photocopying or storing it in any medium by electronic meansAnucha sirivisansuwan/Moment/Getty Images:289 Shutterstock:Andrey_Popov/and whether or not transiently or incidentally to some other use of this publication)Shutterstock:309 Shutterstock:Bolarzeal/Shutterstock:313 Shutterstock:without the written permission of the copyright owner,except in accordance withSunsinger/Shutterstock:314 Shutterstock:VictoryX21/Shutterstock;317the provisions of the Copyright,Designs and Patents Act 1988 or under the termsPearson Education Ltd:Sophie Bluy/Pearson Education Ltd:322 Shutterstock:of a licence issued by the Copyright Licensing Agency,Bamard's Inn,86 FetterOrhan Cam/Shutterstock:323 123RF:Rawpixel/123RF:326 Shutterstock:RafalLane,London EC4A 1EN (www.cla.co.uk).Applications for the copyright owner'sCichawa/Shutterstock;328 Shutterstock:Norman Chan/Shutterstock;329 Gettywritten permission should be addressed to the publisherImages:Miguel Navarro/DigitalVision/Getty Images;334 Shutterstock:Cbpix/Shutterstock;337 Shutterstock:Fiona Ayerst/Shutterstock;346 Shutterstock:Printed by Neografia in SlovakiaZhu difeng/Shutterstock;348 Shutterstock:Szefei/Shutterstock;357Shutterstock:Toonman/Shutterstock;362 123RF:Valery Shanin/123RF.AcknowledgementsAll other images Pearson EducationWe'd like to thank our teacher reviewers for their contribution to this book:CliveAgent,Alain Anderton,Sonali Dassanayake,Tomy Gray,Colin Leith,HarrisonFor acknowledgements of text materials in this textbook,please see the insideMwangi and YK Yam.back cover of the book.The publisher would like to thank the following individuals and organisations forpermission to reproduce photographs:Endorsement statementIn order to ensure that this resource offers high-quality support for the associated(Key:b-bottom;c-centre;I-left:r-right;t-top)Pearson qualification,it has been through a review process by the awardingbody.This process confirms that this resource fully covers the teaching and2 Getty Images:Studio 642/Getty Images;4(tr)Shutterstock:IJeab/learning content of the specification at which it is aimed.It also confirms that itShutterstock;4(br)123RF:Belchonock/123RF:10 123RF:Kzenon/123RF;demonstrates an appropriate balance between the development of subject 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