Economics

This set of flashcards includes every detail and point you would use in most (if not all) Paper 2 Structured Questions in the CIE IGCSE 0987/0455 specification. Through the 2 years of studying CIE IGCSE Economics in my school, I have compiled all of my lesson notes, online materials, further research, and exam mark schemes into this single file. This set of notes offered me great assistance to fortunately achieve a grade 9 in Economics and the Top of Economics award in my year in my school. ...

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.

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.

In this section, we look at the market economy as well as its advantages and disadvantages.

In this section, we look at market failure and the main causes of such 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.

We use the concept of PPC to show opportunity cost and how moving along PPC supports this. We also look at all combinations on, within and outside the PPC as well as factors which make the PPC shift.

An introductory about what is Economics!

This Unit covers the 4 factors of production, namely Land, Labour, Capital and Enterprise and their mobilities as well as rewards.

This topic looks at Opportunity Cost and a very simple explanation using an example.

An overview of Economics can be found in this document. Everything from international trade to macroeconomics and microeconomics. This booklet is essential, particularly before an exam to help you review important details.