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Price Elasticity of Demand (PED)
In this section, we use numerical examples to show the different degrees of PED as well as the interpretation of the PED figures. We also look at the different factors which affect PED.
- Lecture notes
- • 27 pages •
In this section, we use numerical examples to show the different degrees of PED as well as the interpretation of the PED figures. We also look at the different factors which affect PED.
Price Elasticity of Supply (PES)
In this section we look at how we calculate PES, using numerical examples as well as the interpretation of the PES figure. We also look at the different degrees of elasticity. Furthermore, we look at the factors which affect the PES.
- Lecture notes
- • 24 pages •
In this section we look at how we calculate PES, using numerical examples as well as the interpretation of the PES figure. We also look at the different degrees of elasticity. Furthermore, we look at the factors which affect the PES.
Market Economic System
In this section, we look at the market economy as well as its advantages and disadvantages.
- Lecture notes
- • 7 pages •
In this section, we look at the market economy as well as its advantages and disadvantages.
Market Failure
In this section, we look at market failure and the main causes of such market failure.
- Lecture notes
- • 8 pages •
In this section, we look at market failure and the main causes of such market failure.
Mixed Economy and how government intervenes to correct market failure
In this section, we look at the mixed economic system. Also, we consider the ways how a government intervenes in view of addressing market failures.
- Lecture notes
- • 9 pages •
In this section, we look at the mixed economic system. Also, we consider the ways how a government intervenes in view of addressing market failures.
O Level CIE Economics : Unit 2- The allocation of resources
In this Unit 2 from the O Level CIE Economics, we consider topics like Demand, Supply, Equilibrium conditions, Economics systems, PED, PES and market failures,
- Package deal
- • 9 items •
- Mixed Economic System and Government intervention to correct market failures • Lecture notes
- Causes of Market Failure • Lecture notes
- Market Economic System • Lecture notes
- Price Elasticity of Supply (PES) • Lecture notes
- Price Elasticity of Demand (PED) • Lecture notes
- And more ….
In this Unit 2 from the O Level CIE Economics, we consider topics like Demand, Supply, Equilibrium conditions, Economics systems, PED, PES and market failures,
Economic System and the 3 Basic economic questions
In this section, we differentiate between micro and macro economics. We also look at the 3 basic economic questions.
- Package deal
- Lecture notes
- • 3 pages •
In this section, we differentiate between micro and macro economics. We also look at the 3 basic economic questions.
Demand
In this section, we look at Demand and the negative relationship that exists between price and quantity demanded, illustrated on a demand curve. We also differentiate between a movement along the demand curve and a shift in the demand curve. Finally we look at the factors which shift the demand curve.
- Package deal
- Lecture notes
- • 11 pages •
In this section, we look at Demand and the negative relationship that exists between price and quantity demanded, illustrated on a demand curve. We also differentiate between a movement along the demand curve and a shift in the demand curve. Finally we look at the factors which shift the demand curve.
Supply
In this section, we look at Supply and the positive relationship that exists between price and quantity supplied. We also differentiate between a movement along the supply curve and a shift in the supply curve. Finally we look at the factors which shift the supply curve.
- Package deal
- Lecture notes
- • 11 pages •
In this section, we look at Supply and the positive relationship that exists between price and quantity supplied. We also differentiate between a movement along the supply curve and a shift in the supply curve. Finally we look at the factors which shift the supply curve.
Equilibrium price and quantity
In this section, we look at Equilibrium as well as Disequilibrium positions. We also explain how the disequilibrium positions fade as market forces operate. Furthermore, we consider changes in demand and supply which affect equilibrium positions.
- Package deal
- Lecture notes
- • 6 pages •
In this section, we look at Equilibrium as well as Disequilibrium positions. We also explain how the disequilibrium positions fade as market forces operate. Furthermore, we consider changes in demand and supply which affect equilibrium positions.