fbpx

O Level Economics Revision Notes

Free O Level Economics Revision Notes that will help you in revising for your exams. Also, check out our other helpful revision resources for O Level Economics (2281).

Revision Notes:

Basic Economic Problem

Basic Economic Problem: The basic economic problem is that there are finite resources and unlimited wants; in other words there…

Read More »

Production Possibility Curve

Production Possibility Curve: The following is a curve representing all possible combinations of two goods that can be produced by…

Read More »

Allocation Of Resources In Economic Systems

Resource Allocation Answers Three Questions: What to produce? How to produce? For whom to produce? Economic Systems: How an economy decides,…

Read More »

Characteristics And Functions Of Money

Money: Money is an item which is generally acceptable as a means of payment. Characteristics of Money: General Acceptability: All…

Read More »

Demand And Supply – How Prices Are Determined

Prices are determined through the forces of demand and supply of a product or service. Demand: It is the willingness…

Read More »

Non Price Factors of Demand

There are various factors other than price that change the Demand of a product or service and hence cause a…

Read More »

Non Price Factors of Supply

There are various factors other than price that change the Supply of a product or service and hence cause a…

Read More »

Price Elasticity Of Demand

Price Elasticity Of Demand, measures the responsiveness of demand to a change in price. The formula used to calculate (PED)…

Read More »

Price Elasticity Of Supply

Price Elasticity Of Supply, is the measure of the responsiveness of supply to a change in price. The Formula used…

Read More »

Usefullness of Price Elasticity To Producers

Knowledge of Price Elasticity would help the producer in many ways while making a decision such as: Pricing Policy: The…

Read More »
Back to top button
Open chat
Need help? Ask Us!
Hello !
How can we help you?