CXC Study Guides: Economics for CSEC
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Description
Contents
Reviews
Language
English
ISBN
9781382067881
Contents
Introduction
Section 1 The nature of economics
1.1 The creation of wealth
1.2 The economy
1.3 Scarcity and choice
1.4 Opportunity cost and efficiency
1.5 Making economic decisions
Practice exam questions
Section 2 Production, economic resources and resource allocation
2.1 Production
2.2 Factors of production
2.3 Land
2.4 Labour
2.5 The division of labour
2.6 Capital
2.7 Entrepreneurial talent
2.8 The costs of production 1: fixed and variable costs
2.9 The costs of production 2: output and costs
2.10 Short-run and long-run costs
2.11 Economies of scale
2.12 Diseconomies of scale
2.13 Economic systems
2.14 The mixed economy
2.15 The merits and demerits of different systems
2.16 Types of business organisation
Practice exam questions
Section 3 Markets and prices
3.1 Markets and market forces
3.2 Price, demand and supply
3.3 Demand and supply curves
3.4 Demand and supply conditions
3.5 Changes in the conditions of demand
3.6 Changes in the conditions of supply
3.7 Equilibrium price
3.8 Changes in the market equilibrium
3.9 Price elasticity of demand
3.10 Income elasticity and cross elasticity
3.11 Price elasticity of supply
3.12 Market structures
3.13 Perfect competition and monopoly
3.14 Oligopoly and monopolistic competition
3.15 Market failure
3.16 The consequences of market failure
Practice exam questions
Section 4 The financial sector
4.1 The role of the financial sector
4.2 The functions of the financial sector
4.3 The informal sector
4.4 Other financial institutions
4.5 The importance of money
4.6 The qualities of money
4.7 The central bank
4.8 Commercial banks
4.9 The stock exchange
4.10 Financial instruments
Practice exam questions
Section 5 Economic management: policies and goals
5.1 The role of government in the economy
5.2 The circular flow of income
5.3 GNP and GDP
5.4 Measuring output
5.5 Economic growth and economic development
5.6 Recession and inflation
5.7 Causes and consequences of recession and inflation
5.8 Government management of the economy
5.9 Unemployment
5.10 Trade unions in the economy
Practice exam questions
Section 6 International trade
6.1 Why countries trade
6.2 Factors that influence the level of trade
6.3 Terms of trade
6.4 Exchange rates
6.5 Types of exchange rate
6.6 Causes of exchange rate fluctuations
6.7 The balance of payments and the balance of trade
6.8 Constituent components of the balance of payments
6.9 Balance of payments surplus
6.10 Balance of payments deficits
Practice exam questions
Section 7 Caribbean economies in a global environment
7.1 Characteristics of Caribbean economies
7.2 Problems for Caribbean economies
7.3 More about Caribbean economies
7.4 CARICOM
7.5 Modern trading arrangements
7.6 The IMF and the World Bank
7.7 Trading groups and economic alliances
7.8 Investment in Caribbean economies
7.9 Preferential tariff arrangements
7.10 The benefits and costs of preferential trade
7.11 Trade liberalisation
7.12 The benefits of globalisation
7.13 The effects of globalisation and trade liberalisation
7.14 Benefits of CARICOM
7.15 Development strategies in the Caribbean
7.16 E-commerce
Practice exam questions
Glossary
Index
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