GRADE 10

ECONOMICS STUDY GUIDE Summer 2023

Costs in the long and short run
Fixed/Variable/Marginal Costs
Fixed and Variable Average Costs
Long Run Average Costs
Calculation of Costs/Revenue earned and profit
Economies of Scale
Diseconomies of Scale
Various Internal Economies of Scale
Various External Economies of Scale
Types of Businesses:
Sole proprietorship
Partnership
Ltd Company
Public and Private Ltd Company
Multinational Organizations
Monopoly Organizations
Public Corporations
Cooperatives
Growth of firms
Size of firms
Types of Integration