Igcse Economics Revision Notes

Free IGCSE Economics Revision Notes that will help you in revising for your exams. Also, check out our other helpful revision resources for IGCSE Economics (0455).

Revision Notes:

November 14, 2015
24,871

Basic Economic Problem

Basic Economic Problem: The basic economic problem is that there are finite resources and unlimited wants; in other words there…
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November 14, 2015
16,325

Production Possibility Curve

Production Possibility Curve: The following is a curve representing all possible combinations of two goods that can be produced by…
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November 14, 2015
22,008

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,…
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November 13, 2015
10,050

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…
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November 12, 2015
8,965

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…
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November 10, 2015
5,427

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…
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November 7, 2015
11,050

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…
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November 6, 2015
10,549

Price Elasticity Of Demand

Price Elasticity Of Demand, measures the responsiveness of demand to a change in price. The formula used to calculate (PED)…
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November 5, 2015
6,184

Price Elasticity Of Supply

Price Elasticity Of Supply, is the measure of the responsiveness of supply to a change in price. The Formula used…
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November 4, 2015
8,405

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…
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