0(0 Ratings)
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
-
The Market System
-
Key decisions about resource allocation
-
Introduction to the Price Mechanism
-
Chapter review questions
Demand
-
Demand
-
Determinants of demand
-
Price and Demand
-
Chapter review questions
Supply
-
Supply
-
Price and Supply
-
Chapter Review Questions
Price Determination and Price Changes
-
How are market prices determined? What is a market equilibrium?
-
Market Disequilibrium
-
Price Determination Review Questions
-
Price Determination: Exam-Style Question 1
-
What can cause prices in a market to change?
-
Price Change Review Questions
-
Price Change: Exam-Style Question 1
Price Elasticity of Demand
-
What is the concept of elasticity about and what is PED?
-
How to calculate the PED index / value?
-
What do the values of the PED index mean? How do we apply and use it?
-
PED Review Questions
Price Elasticity of Supply
-
What is price elasticity of supply?
-
How to calculate the PES value?
-
What do the values of PES mean and how to apply / use it?
-
PES Review Questions
The Market Economic System
-
What is the market economic system?
-
What are some of the advantages and disadvantages of the market economic system?
-
Chapter Review Questions
Market Failure
-
What is a market failure and how does it exist?
-
What are some of the causes of market failures?
-
What are the consequences of market failures in an economy?
-
Market Failure Review Questions
Mixed Economic System
-
What is the mixed economic system?
-
How can governments address market failures? Price Control
-
How can governments address market failures? Taxes and Subsidies
-
How can governments address market failures? Administrative Methods
-
Chapter Review Questions
Free
Free access this course
-
LevelIntermediate
Hi, Welcome back!