1.

Table of Content

Syllabus

iii

INTRODUCTION ; ECONOMICS ISSUES

1.1
1.2
2
1.3
1.4
7
1.5
8
1.6
1.7
1.8

Definition of economy
Differences between microeconomics and macroeconomics

Positive economy statement versus normative economy statement.

5
The basic economic concepts.
The basic economic problems.
Factors of production
Production possibilities curve (PPC)
Economic systems
19
Example of Final exam Questions

10
11

23
2.0

PRICING THEORIES
2.1
2.2
2.3
2.4
2.5

3.0

Demand
Supply
35
Market equilibrium
42
Supply, demand and government policy
46
Elasticity
Example of Final exam Questions
56

27

49

PRODUCTION
3.1

Definition of production

63

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3.2
3.3
3.4
3.5
3.6
3.7
3.8
3.9

4.0

Short-run and Long-run Production

Types of Production
64
Law of Diminishing Marginal Returns
66
Cost of production
70
Concepts of Revenue
Economies of scale
76
Diseconomies of scale
Survival of small firms
Example of Final exam Questions
83

64

74
78
79

MARKET STRUCTURES
4.1
4.2
4.3
4.4
4.5
4.6
4.6

Market structures
Profit maximization in perfect competition market
90
Perfect competition market
92
Monopoly
Monopolistic market
105
Oligopoly
summary of characteristics of four types of market structure
109
Example of Final exam Questions
110

90

98
107

Sample 1 Final Exam

115
Glossary

159

Formula

161

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Others info please visit at http://amir-economy.blogspot.com

Lecturer: En. Amir Bin Jusoh
Email : amir@kpmbp.edu.my
Phone number:012-9496287
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ii.
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Mathematics
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Letakkan
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BIODATA FORM
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iii

Academics (in SPM)

i.
English
:
ii.
Mathematics
:
iii.
Economics
:
iv.
..
v.
..
Mentor :

..
..
:
.
:
.

..

Fathers Name
:
.
Phone number
:

Employment
:

Mothers Name
:
.
Phone number
:
..
Employment
:
..

Briefly explain what you know about economy

iii