Complete Economics for Cambridge IGCSE® and O Level

Produktbeschreibung

Completely supporting the latest Cambridge IGCSE and O Level syllabuses, Complete Economics helps build foundations for the future with a rigorous, modular approach. Drive assessment success with extensive exam guidance embedded throughout. 

Inhaltsverzeichnis

* Syllabus matching grid


* 1 The basic economic problem


* 1.1 The nature of the economic problem


* 1.1.1: Finite resources and unlimited wants


* 1.1.2: Economic and free goods


* 1.2 Factors of production


* 1.2.1: Definitions of the factors of production and their rewards


* 1.2.2: Mobility of the factors of production


* 1.2.3: Quantity and quality of the factors of production


* 1.3 Opportunity cost


* 1.3.1: Definition of opportunity cost


* 1.3.2: The influence of opportunity cost on decision making


* 1.4 Production possibility curves (PPC)


* 1.4.1: Definition of PPC


* 1.4.2: Points under, on and beyond a PPC


* 1.4.3: Movements along a PPC


* 1.4.4: Shifts in a PPC


* 2 The allocation of resources


* 2.1 Microeconomics and macroeconomics


* 2.1.1: Microeconomics


* 2.1.2: Macroeconomics


* 2.2 The role of markets in allocating resources


* 2.2.1: The market system


* 2.2.2: Key resources allocation decisions


* 2.2.3: Introduction to the price mechanism


* 2.3 Demand


* 2.3.1: Definition of demand


* 2.3.2: Price and demand


* 2.3.3: Individual and market demand


* 2.3.4: Conditions of demand


* 2.4 Supply


* 2.4.1: Definition of supply


* 2.4.2: Price and supply


* 2.4.3: Individual and market supply


* 2.4.4: Conditions of supply


* 2.5 Price determination


* 2.5.1: Market equilibrium


* 2.5.2: Market disequilibrium


* 2.6 Price changes


* 2.6.1: Causes of price changes


* 2.6.2: Consequences of price changes


* 2.7 Price elasticity of demand (PED)


* 2.7.1: Definition of PED


* 2.7.2: Calculation of PED


* 2.7.3: Determinants of PED


* 2.7.4: PED and total spending on a product/revenue


* 2.7.5: Significance of PED


* 2.8 Price elasticity of supply (PES)


* 2.8.1: Definition of PES


* 2.8.2: Calculation of PES


* 2.8.3: Determinants of PES


* 2.8.4: Significance of PES


* 2.9 Market economic system


* 2.9.1: Definition of market economic system


* 2.9.2: Advantages and disadvantages of the market economic system


* 2.10 Market failure


* 2.10.1: Definition of market failure


* 2.10.2: Causes of market failure


* 2.10.3: Consequences of market failure


* 2.11 Mixed economic system


* 2.11.1: Definition of the mixed economic system


* 2.11.2: Government intervention to address market failure


* 3 Microeconomic decision makers


* 3.1 Money and banking


* 3.1.1: Money


* 3.1.2: Banking


* 3.2 Households


* 3.2.1: Influences on spending, saving and borrowing


* 3.3 Workers


* 3.3.1: Factors affecting an individual's choice of occupation


* 3.3.2: Wage determination


* 3.3.3: Reasons for differences in earnings


* 3.3.4: Division of labour/specialization


* 3.4 Trade unions


* 3.4.1: Definition of a trade union


* 3.4.2: The role of trade unions in the economy


* 3.4.3: The advantages and disadvantages of trade union activity


* 3.5 Firms


* 3.5.1: Classification of firms


* 3.5.2: Small firms


* 3.5.3: Causes and forms of the growth of firms


* 3.5.4: Mergers


* 3.5.5: Economies and diseconomies of scale


* 3.6 Firms and production


* 3.6.1: Demand for factors of production


* 3.6.2: Labour-intensive and capital-intensive production


* 3.6.3: Production and productivity


* 3.7 Firms' costs, revenues and objectives


* 3.7.1: Definition of costs of production


* 3.7.2: Calculation of costs of production


* 3.7.3: Definition of revenue


* 3.7.4: Calculation of revenue


* 3.7.5: Objectives of firms


* 3.8 Market structure


* 3.8.1: Competitive markets


* 3.8.2: Monopoly markets


* 4 Government and the macroeconomy


* 4.1 The role of government


* 4.1.1: The role of government


* 4.2 The macroeconomic aims of government


* 4.2.1: The macroeconomic aims of government


* 4.2.2: Possible conflicts between macroeconomic aims


* 4.3 Fiscal policy


* 4.3.1: Definition of the budget


* 4.3.2: Reasons for government spending


* 4.3.3: Reasons for taxation


* 4.3.4: Classification of taxes


* 4.3.5: Principles of taxation


* 4.3.6: Impact of taxation


* 4.3.7: Definition of fiscal policy


* 4.3.8: Fiscal policy measures


* 4.3.9: Effects of fiscal policy on government macroeconomic aims


* 4.4 Monetary policy


* 4.5 Supply-side policy


* 4.5.1: Definition of supply-side policy


* 4.5.2: Supply-side policy measures


* 4.5.3: Effects of supply-side policy measures on government macroeconomic
aims


* 4.6 Economic growth


* 4.6.1: Definition of economic growth


* 4.6.2: Measurement of economic growth


* 4.6.3: Causes and consequences of recession


* 4.6.4: Causes of economic growth


* 4.6.5: Consequences of economic growth


* 4.6.6: Consequences of economic growth


* 4.7 Employment and unemployment


* 4.7.1: Definition of employment, unemployment and full employment


* 4.7.2: Changing patterns and level of employment


* 4.7.3: Measurement of unemployment


* 4.7.4: Causes/types of unemployment


* 4.7.5: Consequences of unemployment


* 4.7.6: Policies to reduce unemployment


* 4.8 Inflation and deflation


* 4.8.1: Definition of inflation and deflation


* 4.8.2: Measurement of inflation and deflation


* 4.8.3: Causes of inflation and deflation


* 4.8.4: Consequences of inflation and deflation


* 4.8.5: Policies to control inflation and deflation


* 5 Economic development


* 5.1 Living standards


* 5.1.1: Indicators of living standards


* 5.1.2: Comparing living standards and income distribution


* 5.2 Poverty


* 5.2.1: Definition of absolute and relative poverty


* 5.2.2: The causes of poverty


* 5.2.3: Policies to alleviate poverty and redistribute income


* 5.3 Population


* 5.3.1: The factors that affect population growth


* 5.3.2: Reasons for different rates of population growth in different
countries


* 5.3.3: The effects of changes in the size and structure of population on
different countries


* 5.4 Differences in economic development between countries


* 5.4.1: Differences in economic development between countries


* 6 International trade and specialization


* 6.1 International specialization


* 6.1.1: Specialization at a national level


* 6.1.2: Advantages and disadvantages of specialization at a national level


* 6.2 Globalization, free trade and protection


* 6.2.1: Definition of globalization


* 6.2.2: Role of multinational companies (MNCs)


* 6.2.3: The benefits of free trade


* 6.2.4: Methods of protection


* 6.2.5: Reasons for protection


* 6.2.6: Consequences of protection


* 6.3 Foreign exchange rates


* 6.3.1: Definition of foreign exchange rate


* 6.3.2: Determination of foreign exchange rate in foreign exchange market


* 6.3.3: Causes of foreign exchange rate fluctuations


* 6.3.4: Consequences of foreign exchange rate fluctuations


* 6.3.5: Floating and fixed foreign exchange rates


* 6.4 Current account of balance of payments


* 6.4.1: Structure


* 6.4.2: Causes of current account deficit and surplus


* 6.4.3: Consequences of current account deficit and surplus


* 6.4.4: Policies to achieve balance of payments stability