The allocation of resources: how the market works; market failure

This is the 2nd Unit in Cambridge O Level Economics Syllabus. This unit gives a basic understanding of how resources are allocated in the market and in different economic systems.

  1. Economic Systems
  2. Market and mixed economies
  3. Advantages and Disadvantages of the market system
  4. Demand & Supply
  5. Changes in Demand & Supply
  6. Elasticity of Demand & Supply
  7. Market Failure

One thought on “The allocation of resources: how the market works; market failure”

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