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Price Elasticity of Demand (PED)
In this section, we look at the different degrees of PED, using numerical examples and the factors which make demand for a product more elastic or more inelastic.
- Package deal
- Lecture notes
- • 27 pages •
In this section, we look at the different degrees of PED, using numerical examples and the factors which make demand for a product more elastic or more inelastic.
Price Elasticity of Supply (PES)
In this section we look at the different degrees of PES and the factors which make supply more elastic or more inelastic.
- Package deal
- Lecture notes
- • 24 pages •
In this section we look at the different degrees of PES and the factors which make supply more elastic or more inelastic.
Market Economic System
In this section, we look at the market economy and its advantages as well as disadvantages.
- Package deal
- Lecture notes
- • 7 pages •
In this section, we look at the market economy and its advantages as well as disadvantages.
Causes of Market Failure
In this section, we explain what is market failure in terms of inefficiency of markets. We also look at the main causes of market failure.
- Package deal
- Lecture notes
- • 8 pages •
In this section, we explain what is market failure in terms of inefficiency of markets. We also look at the main causes of market failure.
Mixed Economic System and Government intervention to correct market failures
In this section, we explore the mixed economic system as well as the different ways the goverment intervenes to correct market failures. Common tools considered are minimum/maximum price, taxes, subsidies, just to name a few.
- Package deal
- Lecture notes
- • 9 pages •
In this section, we explore the mixed economic system as well as the different ways the goverment intervenes to correct market failures. Common tools considered are minimum/maximum price, taxes, subsidies, just to name a few.
O Level Economics - CIE Grade 10
This package comprises of Unit 1 of the O Level Economics CIE, specially for starters in Grade 10. This first unit introduces Economics as a subject and coins the very basic economic problem that all societies face. We also look at the 4 factors of productions as well as look at the concept of PPC to illustrate scarcity and opportunity cost.
- Package deal
- • 5 items •
- Using PPC to illustrate Opportunity Cost • Lecture notes
- PPC - Economics CIE for O-Level • Lecture notes
- Opportunity Cost • Lecture notes
- Factors of Production • Lecture notes
- Basic Economic Problem • Lecture notes
This package comprises of Unit 1 of the O Level Economics CIE, specially for starters in Grade 10. This first unit introduces Economics as a subject and coins the very basic economic problem that all societies face. We also look at the 4 factors of productions as well as look at the concept of PPC to illustrate scarcity and opportunity cost.
Basic Economic Problem
In this Unit, we define "Economics" and explain what exactly we study, with respect to, limited resources being used to satisfy unlimited wants. We also look at the different types of goods that are often talked about.
- Package deal
- Lecture notes
- • 8 pages •
In this Unit, we define "Economics" and explain what exactly we study, with respect to, limited resources being used to satisfy unlimited wants. We also look at the different types of goods that are often talked about.
Factors of Production
In this Unit, we look at the 4 main factors of production and their geographical and occupational mobilities, as well as their rewards.
- Package deal
- Lecture notes
- • 8 pages •
In this Unit, we look at the 4 main factors of production and their geographical and occupational mobilities, as well as their rewards.
Opportunity Cost
This Unit looks at the concept of opportunity cost, illustrated with a simple example.
- Package deal
- Lecture notes
- • 3 pages •
This Unit looks at the concept of opportunity cost, illustrated with a simple example.
PPC - Economics CIE for O-Level
This Unit explains the concept of PPC in view of showing opportunity cost. We also look at different combinations on, inside and outside the PPC as well as their implications. Moreover, we consider the factors which will shift a PPC.
- Package deal
- Lecture notes
- • 7 pages •
This Unit explains the concept of PPC in view of showing opportunity cost. We also look at different combinations on, inside and outside the PPC as well as their implications. Moreover, we consider the factors which will shift a PPC.