The C4 Study Text assumes candidates have no prior knowledge of economics, and explains all areas of the syllabus fully. Key terms are identified throughout, and understanding key economic terms is vital for passing the C4 exam. The Study Text also stresses the differences between economic costs and accounting costs, which candidates need to appreciate early in their studies. Diagrams are very important in economics, and the Study Text provides an extensive range of diagrams which help demonstrate the fundamental importance of the interaction of supply and demand throughout all aspects of the economics syllabus.