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iGCSE Economics – Unit 2: The allocation of resources

Course Curriculum

Scope of Economics: Microeconomics and Macroeconomics

  • What is microeconomics and what is macroeconomics?
  • Decision makers in Micro and Macroeconomics
  • Chapter Review Questions

The role of markets in allocating resources

Demand

Supply

Price Determination and Price Changes

Price Elasticity of Demand

Price Elasticity of Supply

The Market Economic System

Market Failure

Mixed Economic System

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