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The Econ and Business shop

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Teacher of economics and business across five international schools for last twelve years having spent the 16 years prior employed as a Bank Manager with Lloyds Banking Group (UK) Examiner with CIE - economics (6 years)

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Teacher of economics and business across five international schools for last twelve years having spent the 16 years prior employed as a Bank Manager with Lloyds Banking Group (UK) Examiner with CIE - economics (6 years)
4.6 Economic growth (IGCSE Macroeconomics)
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4.6 Economic growth (IGCSE Macroeconomics)

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Real Gross Domestic Product (GDP) and how it can be used to measure economic growth. GDP per head (capita). Meaning of recession and how a recession moves the economy within its PPC. How changes in total demand may increase the utilisation of resources and GDP resulting in a movement from inside toward the PPC. How economic growth shifts the economy’s PPC to the right and is caused by changes in investment, technology, and the quantity and quality of the factors of production. The costs and benefits of economic growth in the context of different economies. The range of policies available to promote economic growth and how effective they might be. Review of Unit 4 Questions and suggested answers
3.6 Firms and production (IGCSE Microeconomics)
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3.6 Firms and production (IGCSE Microeconomics)

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Influences to include demand for the product, the price of different factors of production, their availability and their productivity. The reasons for adopting the different forms of production and their advantages and disadvantages. The difference between, and influences on, production and productivity. *Unit 3 review Questions with suggested solutions
6.3 Business and the international economy (IGCSE Business Studies)
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6.3 Business and the international economy (IGCSE Business Studies)

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6.3.1 The importance of globalisation: • The concept of globalisation and the reasons for it • Opportunities and threats of globalisation for businesses • Why governments might introduce import tariffs and import quotas 6.3.2 Reasons for the importance and growth of multinational companies (MNCs): • Benefits to a business of becoming a multinational and the impact on its stakeholders • Potential benefits to a country and/or economy where a MNC is located, e.g. jobs, exports, increased choice, investment • Potential drawbacks to a country and/or economy where a MNC is located, e.g. reduced sales of local businesses, repatriation of profits 6.3.3 The impact of exchange rate changes: • Depreciation and appreciation of an exchange rate • How exchange rate changes can affect businesses as importers and exporters of products, e.g. prices, competitiveness, profitability Questions and suggested answers
4.2 Costs, Scale of production and break-even analysis (IGCSE Business Studies)
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4.2 Costs, Scale of production and break-even analysis (IGCSE Business Studies)

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4.2.1 Identify and classify costs: • Classifying costs using examples, e.g. fixed, variable, average, total • Use cost data to help make simple cost-based decisions, e.g. to stop production or continue 4.2.2 Economics and diseconomies of scale: • The concept of economies of scale with examples, e.g. purchasing, marketing, financial, managerial, technical • The concept of diseconomies of scale with examples, e.g. poor communication, lack of commitment from employees, weak coordination 4.2.3 Break-even analysis: • The concept of break-even • Construct, complete or amend a simple break-even chart • Interpret a given chart and use it to analyse a situation • Calculate break-even output from given data • Define, calculate and interpret the margin of safety • Use break-even analysis to help make simple decisions, e.g. impact of higher price • Understand the limitations of break-even analysis Sample questions and answers
5.5 Analysis of accounts (IGCSE Business Studies)
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5.5 Analysis of accounts (IGCSE Business Studies)

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5.5.1 Profitability: • The concept and importance of profitability 5.5.2 Liquidity: • The concept and importance of liquidity 5.5.3 How to interpret the financial performance of a business by calculating and analysing profitability ratios and liquidity ratios: • Gross profit margin • Profit margin • Return on Capital Employed • Current ratio • Acid test ratio 5.5.4 Why and how accounts are used: • Needs of different users of accounts and ratio analysis • How users of accounts and ratio results might use information to help make decisions, e.g. whether to lend to or invest in the business Questions and suggested answers
4.4 Location decisions (IGCSE Business Studies)
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4.4 Location decisions (IGCSE Business Studies)

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4.4.1 The main factors influencing the location and relocation decisions of a business: • Factors relevant to the location decision of manufacturing businesses and service businesses • Factors that a business could consider when deciding which country to locate operations in • The role of legal controls on location decisions • Recommend and justify an appropriate location for a business in given circumstances Sample questions and answers
4.3 Achieving quality production (IGCSE Business Studies)
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4.3 Achieving quality production (IGCSE Business Studies)

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4.3.1 Why quality is important and how quality production might be achieved: • What quality means and why it is important for all businesses • The concept of quality control and how businesses implement quality control • The concept of quality assurance and how this can be implemented Sample questions and answers
2.9 Market economic system (IGCSE Microeconomics)
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2.9 Market economic system (IGCSE Microeconomics)

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Including the roles of the private sector (firms and consumers) and the public sector (government) in a market economy. Including examples of how it works in a variety of different countries. Questions and suggested solutions
5.2 Cash-flow forecasting and working capital (IGCSE Business Studies)
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5.2 Cash-flow forecasting and working capital (IGCSE Business Studies)

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5.2.1 The importance of cash and of cash-flow forecasting: • Why cash is important to a business • What a cash-flow forecast is, how a simple one is constructed and the importance of it • Amend or complete a simple cash-flow forecast • How to interpret a simple cash-flow forecast • How a short-term cash-flow problem might be overcome, e.g. increasing loans, delaying payments, asking debtors to pay more quickly 5.2.2 Working capital: • The concept and importance of working capital *questions and suggested answers"
2.4 Internal and External Communication (IGCSE Business Studies)
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2.4 Internal and External Communication (IGCSE Business Studies)

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2.4.1 Why effective communication is important and the methods used to achieve it: • Effective communication and its importance to business • Benefits and limitations of different communication methods including those based on information technology (IT) • Recommend and justify which communication method to use in given circumstances 2.4.2 Demonstrate an awareness of communication barriers: • How communication barriers arise and problems of ineffective communication; how communication barriers can be reduced or removed Questions and suggested answers
1.5 Business objectives and shareholder interests (IGCSE Business Studies)
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1.5 Business objectives and shareholder interests (IGCSE Business Studies)

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PPT covering: Need for business objectives and the importance of them Different business objectives, e.g. survival, growth, profit and market share Objectives of social enterprises Main internal and external stakeholder groups Objectives of different stakeholder groups How these objectives might conflict with each other, use examples Questions and suggested answers
2.3.1 Recruitment and selection (IGCSE Business Studies)
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2.3.1 Recruitment and selection (IGCSE Business Studies)

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2.3.1 Recruitment and selecting employees: • Recruitment and selection methods • Difference between internal recruitment and external recruitment • Main stages in recruitment and selection of employees • Recommend and justify who to employ in given circumstances • Benefits and limitations of part-time employees and full-time employees Questions and suggested answers
2.2 Organisation and management (IGCSE Business Studies)
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2.2 Organisation and management (IGCSE Business Studies)

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• Simple hierarchical structures: span of control, levels of hierarchy, chain of command • Roles and responsibilities of directors, managers, supervisors, other employees in an organisation and inter-relationships between them 2.2.2 The role of management: • Functions of management, e.g. planning, organising, coordinating, commanding and controlling • Importance of delegation; trust versus control 2.2.3 Leadership styles: • Features of the main leadership styles, e.g. autocratic, democratic and laissez-faire • Recommend and justify an appropriate leadership style in given circumstances 2.2.4 Trade unions: • What a trade union is and the effects of employees being union members sample questions and answers
3.2 Market research (IGCSE Business Studies)
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3.2 Market research (IGCSE Business Studies)

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3.2.1 The role of market research and methods used: • Market-orientated businesses (uses of market research information to a business) • Primary research and secondary research (benefits and limitations of each) • Methods of primary research, e.g. postal questionnaire, online survey, interviews, focus groups • The need for sampling • Methods of secondary research, e.g. online, accessing government sources, paying for commercial market research reports • Factors influencing the accuracy of market research data 3.2.2 Presentation and use of market research results: • Analyse market research data shown in the form of graphs, charts and diagrams; draw simple conclusions from such data *Unit 3 review sample questions and answers
1.4 Types of Business Organisation (IGCSE Business Studies)
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1.4 Types of Business Organisation (IGCSE Business Studies)

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PPT Covering: Why the owners of a business may want to expand the business Different ways in which businesses can grow Problems linked to business growth and how these might be overcome Why some businesses remain small Why some (new or established) businesses fail: Causes of business failure, e.g. lack of management skills, changes in the business environment, liquidity problems Why new businesses are at a greater risk of failing Questions and suggested answers
2.3.2 Training of employees (IGCSE Business Studies)
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2.3.2 Training of employees (IGCSE Business Studies)

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2.3.2 The importance of training and the methods of training: • Importance of training to a business and to employees • Benefits and limitations of induction training, on-the-job training and off-the-job training Questions and suggested answers
3.4 Marketing strategy (IGCSE Business Studies)
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3.4 Marketing strategy (IGCSE Business Studies)

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3.4.1 Justify marketing strategies appropriate to a given situation: • Importance of different elements of the marketing mix in influencing consumer decisions in given circumstances • Recommend and justify an appropriate marketing strategy in given circumstances 3.4.2 The nature and impact of legal controls related to marketing: • Impact of legal controls on marketing strategy, e.g. misleading promotion, faulty and dangerous goods 3.4.3 The opportunities and problems of entering new foreign markets: • Growth potential of new markets in other countries • Problems of entering foreign markets, e.g. cultural differences and lack of knowledge • Benefits and limitations of methods to overcome such problems, e.g. joint ventures, licensing *Unit 3 review sample questions and answers