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    davidboh
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    This document outlines the key topics and concepts to know for economics exams. It includes: 1. The basic economic problem of scarcity and unlimited wants. 2. The laws of demand and supply - how various factors affect price and quantity. Market equilibrium is also covered. 3. Price elasticity of demand and supply, determinants of elasticity, and income elasticity and cross elasticity of demand. 4. Characteristics of different market structures like perfect competition, monopoly, monopolistic competition, and oligopoly.

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    Economics Test points

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    Economics Test points

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    This document outlines the key topics and concepts to know for economics exams. It includes: 1. The basic economic problem of scarcity and unlimited wants. 2. The laws of demand and supply - how various factors affect price and quantity. Market equilibrium is also covered. 3. Price elasticity of demand and supply, determinants of elasticity, and income elasticity and cross elasticity of demand. 4. Characteristics of different market structures like perfect competition, monopoly, monopolistic competition, and oligopoly.

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    © All Rights Reserved
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    Download as odt, pdf, or txt
    8 views2 pages

    Economics Test Points

    Uploaded by

    davidboh
    This document outlines the key topics and concepts to know for economics exams. It includes: 1. The basic economic problem of scarcity and unlimited wants. 2. The laws of demand and supply - how various factors affect price and quantity. Market equilibrium is also covered. 3. Price elasticity of demand and supply, determinants of elasticity, and income elasticity and cross elasticity of demand. 4. Characteristics of different market structures like perfect competition, monopoly, monopolistic competition, and oligopoly.

    Copyright:

    © All Rights Reserved
    Download as ODT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as odt, pdf, or txt
    of 2

    Economics Exams Topics and To Knows

    Topic 1 Topic 2
    - Scarcity of resources +
    Unlimited wants = Economic
    Problem --> Make economic
    choices
    - Review of ra!hical
    "nowled#e
    Topic 3 Topic 4
    - PP$ - %aw of &emand
    - $actors that chan#e demand
    - %aw of Su!!ly
    - $actors that chan#e su!!ly
    - Market E'uilibrium
    - (nalyse events to discuss
    how e'uilibrium !rice and
    'uantity chan#e
    Topic 5 Topic 6
    - Price elasticity of &emand
    )Ed*
    - &eterminants of Ed
    - Price elasticity of Su!!ly )Es*
    - &eterminants of Ed
    - +ncome elasticity of &emand
    - ,ross elasticity of &emand
    Topic 7 & 8 Topic 9 & 10
    - ,haracteristics of Market
    Structures
    - Perfect ,om!etition
    - Mono!oly
    - Mono!olistic ,om!etition
    - -li#o!oly
    - &P &e.nition
    - (!!roaches to measure &P
    - Real / 0ominal &P
    - Real &P rowth Rate
    - %imitations of &P
    )E1!lanation / ,alculation*
    - Economic rowth $actors
    Topic 11 Topic 12
    - 2usiness cycle3
    unem!loyment3 in4ation
    - &e.nition
    - 5y!es of unem!loyment
    - Unem!loyment rate3 labour
    force !artici!ation
    - $iscal Policy
    - &e.nition and a!!lication to
    stabili6e business cycle
    - ovt bud#et balance
    - %imitations of $iscal Policy
    - Em!loyment7 Po!ulation
    Ratio
    - )E1!lanation / ,alculation*

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