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O Level Tutorials
Basic economic problem: choice and the allocation of resources
Economics: Meaning & Introduction
The Nature of Economic Problem
Factors of Production
Production Possibilities Frontier
Stages of Production
The allocation of resources: how the market works; market failure
Economic Systems
Types of Economic Systems
Advantages and disadvantages of the market system
Demand & Supply
Changes in Demand & Supply
Elasticity of Demand & Supply
Market Failure
The private firm as producer and employer
Types of Business Ogranizations
Changes in the structure of business organisations
Determinants of demand for factors of production
Labour-intensive and capital-intensive production
Production and Productivity
Total and average cost, fixed and variable cost
Relationship between average cost and output
Total Revenue and Average Revenue
Profit maximisation as a goal of business organisations
Pricing and output policies in perfect competition and monopoly
Main reasons for the different sizes of firms
Advantages and disadvantages of monopoly
The individual as producer, consumer and borrower
Money and Exchange
Functions of central banks, stock exchanges, commercial banks
Factors affecting an individual’s choice of occupation
Changes in an individual's earnings over time
differences in earnings between different groups of workers
Trade unions and their role in an economy
Division of Labour/Specialisation
Spending, saving and borrowing
Expenditure patterns of different income groups
Role of government in an economy
Aims of government policies
Fiscal Policy and Monetary Policy
Supply Side Policies
Conflicts between government aims
Types of taxes
The government’s influence on private producers
Economic indicators
Measures and indicators of comparative living standards
How a consumer prices index/retail prices index is calculated
Inflation
Deflation
Changing patterns and levels of employment
Unemployment
Gross Domestic Product
Recession
Exchange Rate Systems
Developed and developing economies
Why some countries are classified as developed and others are not
Absolute poverty and relative poverty
Policies to alleviate poverty
Factors affecting population growth
Consequences of population changes at different stages of development
The effects of changing size and structure of population on an economy
International Trade
Benefits and disadvantages of specialisation at regional and national levels
Structure of the current account of the balance of payments
Economics Terms
A-C
D-E
F-G
H-K
L-M
N-P
Q-S
T-W
A/L Edexcel
Competitive Markets- How they work and why they fail
Nature of Economics
Elasticity of Demand
Determinants of Supply
Determining the Price, Functions of Prices, Consumer/Producer Surplus
Price Changes Explained
Incidence of Taxation and Subsidies
Wage rate determination in labour markets
Market Failure
How governments attempt to correct market failure
Government Failure
Production Possibility Curves
Determinants of Demand
Specialisation and division of labour
Managing the economy
Wealth and its relationship to income
Measuring Economic Growth
Aggregate Demand
Measuring Inflation
Aggregate Supply
Measuring Unemployment
The balance of payments
Glossary of Unit 2 : Managing the economy
Human Development Index
Other measures of growth
Circular flow of income
Determining the price level and equilibrium level of real output
Causes, costs and constraints on economic growth
Macroeconomic objectives of governments
Demand-Side Macroeconomic Policy Instruments
Supply-Side Policies
Business Economics and Economic Efficiency
Motives of a Firm
Why and how do firms grow?
Introduction to market structures
Perfect Competition
Perfect competition equilibrium
Monopoly
Oligopoly and game theory
Monopolistic competition
Comparing the monopolist and perfect competition
Government intervention to promote competition
The Global Economy
Globalisation
A Level Quizzes(Edexcel)
Quiz-PPC
A/L Cambridge
Basic economic ideas and resource allocation
Scarcity, choice and opportunity cost
Different allocative mechanisms
Production possibility curves(PPC)
Problems of transition
The margin: decision making at the margin
Positive and normative statements
Ceteris paribus
Factors of production
Division of labour
Money: its functions and characteristics
Classification of goods and services
Externalities and Market Failure
Social costs and benefits; cost-benefit analysis
The price system and the micro economy
Individual and Market Demand Curves
Factors influencing demand
Movements along and shifts of a demand curve
Price, income and cross-elasticities of demand
Individual and market supply curves
Price Elasticity of Supply
Equilibrium and Disequilibrium in the market
Joint demand and alternative demand
The workings/functions of the price mechanism
Consumer Surplus and Producer Surplus
Law of diminishing marginal utility
Government microeconomic intervention
Maximum and minimum prices
Tax ( Direct and Indirect)
Subsidies
Quizzes
Quiz 1
Quiz 2
Quiz 3
Quiz 4
Quiz 5
Quiz 6
Quiz 7
Quiz 8
Quiz 9
Quiz 10 (O Level Unit 4)
Quiz 11 (O Level Unit 5)
Quiz 12 (O Level Unit 6)
O/L MCQs
May/June 2008 P1
Oct/Nov 2008 P1
May/June 2010 P1
May/June 2011 P11
May/June 2011 P12
Economics Ebooks
Modern Economic Problems by Frank A. Fetter
The Principles of Political Economy, and Taxation by David Ricardo
Political economy by William Stanley Jevons
The Wealth of the People: Your Wealth By Fernando Urias
The Wealth of the People: Your Neighbor’s Wealth By Fernando Urias
The Wealth of the People: The Wealth of the Market By Fernando Urias
Economics of Freedom : What Your Professors Won’t Tell You
Q & A
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The Global Economy
Globalisation
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