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GEOPALSHOP: We provide History, Geography, Economics, Business Finance and Sociology Resources for O/L, IGCSE, AS and A/Levels.

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GEOPALSHOP: We provide History, Geography, Economics, Business Finance and Sociology Resources for O/L, IGCSE, AS and A/Levels.
Nature of Economic Problems and Production Possibilty Curve
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Nature of Economic Problems and Production Possibilty Curve

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Prepared for IGCSE Econonics on : Define and explain the nature of the economic problem (finite resources and unlimited wants). • and the factors of production (land, labour, capital, enterprise, with examples ). • Define explain mobility of the factors of production and the influences on the mobility of the various factors. • Quantity and quality of the factors of production - The causes of changes in the quantity and quality of the various factors. • ‘Class Activities,’ ‘Multiple Choice Questions’ and ‘Structured Questions’. ‘ Answers ’ Provided.
MIXED ECONOMIC SYSTEM
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MIXED ECONOMIC SYSTEM

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Prepared for IGCSE KS4 Economic. At the end of the lesson, students should be able to: D efine the mixed economic system. Describe government intervention to address market failure Definitions, drawing and interpretation of appropriate diagrams showing the effects of three government microeconomic policy measures : maximum and minimum prices in product, labour and foreign exchange markets; indirect taxation ; and subsidies . Definitions only of; government microeconomic policy measures: regulation; privatisation
Market Failure Private Social Cost
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Market Failure Private Social Cost

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At the end of the lesson, students should be able to: Define market failure and the key terms associated with market failure: public good , merit good, demerit good, social benefits , external benefits, private benefits, social costs, external costs, private costs. Causes of market failure With respect to public goods, merit and demerit goods, external costs and external benefits, abuse of monopoly power and factor immobility . Examples of market failure with respect to these areas only. Consequences of market failure The implications of misallocation of resources in respect of the over consumption of demerit goods and goods with external costs, and the under consumption of merit goods and goods with external benefits Note: diagrams of demand and supply relating to market failure are not required. ‘Class Activities’ and ‘Multiple Choice Questions’ with Answers.’
Goods and Services: Meaning and Classification of Goods and Services
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Goods and Services: Meaning and Classification of Goods and Services

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Goods and Services: Meaning and Classification of Goods and Services This resource is prepared for KS3 Bussiness Studies. It explains Goods and Services: Meaning and Classification of Goods and Services Difference between Goods and Services, categorisation of goods and services. It shows the difference between tangible and non- tangible goods, Durable Goods Non- Durable Goods Tangible Good Non Tangible Goods Contains Class Activity.