Unit 4 of O Level Tutorials Complete!

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Unit 4: The private firm as producer and employer

Topics covered in this unit:

1. Types of business organisations

2. Changes in the structure of business organisations

3. Determinants of demand for factors of production

4. Labour-intensive and capital-intensive production

5. Production and Productivity

6. Total and average cost, fixed and variable cost

7. Relationship between average cost and total output

8. Total and average revenue

9. Profit maximisation as a goal of business organisations

10. Pricing and output policies in perfect competition and monopoly

11. Main reasons for the different sizes of firms

12. Advantages and Disadvantages of Monopoly

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