MoKour

1. Definition of economics by Lionel Robbins

2. Scarcity

3. Goods and services

4. Types of goods

5. Other types of Goods

Exercise 1

Exercise 2

6. Factors of production

7. Land the natural resource or the three gift of nature

8. Labour human resource

9. Capital the man-made resource

10. Enterprise the human resource

Exercise 3

11. Opportunity cost

Exercise 4

12. Production possibility curve

13. Different production points

Exercise 5

14. Using the PPC

Exercise 6

15. Using the PPC to illustrate

16. Shifts in PPC

17. Factors shifting PPC to the right

1. Laissez-faire Economic system

2. Advantages of the market economy

3. Disadvantages of market economy

4. Demand

5. Demand schedule to plot

6. Market demand curve

7. Demand curve

8. Contraction and extension in demand

9. Shift in demand curve

10. Factors generating shift in demand curves

Exercise 1

11. Supply

12. Supply schedule to plot the supply curve

13. Market supply curve

14. Supply curve

15. Contraction and extension in supply

16. Shift in supply curve

17. Factors generating shift in supply curve

18. Market equilibrium

19. Market disequilibrium excess supply or surplus

20. Excess Demand or shortage

Exercise 2

21. Price changes

Exercise 3

Exercise 4

Exercise 5

22. Price Elasticity of demand

23. Elastic demand

24. Inelastic demand

Exercise 6

25. Unit elastic demand

26. Perfect Elastic demand

27. Perfectly inelastic demand

28. Factors affecting PED

29. Elastic supply

30. Inelastic supply

31. Unit Elastic Supply

32. Perfectly Elastic Supply

33. Perfect inelastic supply

34. Factors affecting PES

35. Importance of PES

36. Laissez-faire Economic system

37. Advantages of the market economy

38. Disadvantages of market economy

39. Definition of Market Failure

40. Causes of market failure

41. Causes of market failure

42. Definition of Mixed Ecomonic System

43. Government intervention to address market failure

44. Government intervention to address market failure

1. Money

2. Features of money

3. Functions of money

4. Banking the central bank

5. Spending

6. Saving

7. Borrowing

8. Factors affecting individual

9. Wage factor

10. Non-wage factors

11. Wage determination

12. Reasons for difference in earnings

13. Division of labour and specialization

14. Division of labour benefits

15. Disadvantages

16. Trade unions

17. Classification of Firms

18. Measuring size of firms

19. Small firms - the benefits

20. Reasons for survival

21. Gatowth of firms - from small to large

22. Horizontal integration

23. Vertical integration

24. Conglomerate integration

25. Summary

26. Benefits and drawbacks of firms

27. Internal E.O.S

28. Internal Diseconomies

29. External economies of scale

30. External Diseconomies of scale

31. Factors affecting demand

32. Labour - intensive method

33. Capital - intensive method

34. Productivity

35. Ways to increase

36. Cost of production

37. Revenue and profit

38. Objectives of firms

39. Competitive

40. Monopoly

41. Monopoly - the benefits

42. Monopoly - the drawbacks