Macmillan Education
Economics for CSEC® Examinations 
Patricia Gopie
Test Preparation
Economics for CSEC® Examinations 
US$ 26.45
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Contents
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Economics for CSEC® Examinations is a comprehensive text for Caribbean students. This new, full-colour text from Macmillan offers comprehensive coverage of the CSEC Economics syllabus. It has been developed by a highly experienced Caribbean teacher, supported by a team of advisers from the Caribbean and the UK.The book includes thorough explanations of Economic theory, real-life Caribbean examples based on students’ lives and experiences, In-Text Questions and examination practice questions at the end of each chapter. The material is presented in a variety of ways which is designed to engage students, keep them on task and improve learning.Key features:• Provides full coverage of syllabus as shown in the list of objectives at the start of each chapter• Concept maps at the start of each chapter to define the scope of the topic and to establish links within the topic• Clear and concise explanations of topics, with illustrations and examples based on students’ life experiences to aid understanding and recall• Material is presented in a variety of ways – text, tables, diagrams and charts to accommodate students with different learning styles• Includes different assessment methods – multiple choice questions, short answer questions and essay-type questions to prepare students for real examination conditions• Provides extensive coverage of topics that students find challenging such as Elasticity, Cost Theory, Market Failure and Comparative Advantage Theory• Includes up-to-date data on macroeconomics topics such as Balance of Payments, Inflation, Unemployment Economic Integration and Caribbean Economies• The book follows a clear and logical structure with each chapter building on the concepts and topics from the previous chapter• Provides step-by-step guidance for the SBA component – how to choose a topic, formulating a topic statement and suggestions for SBAs. There is a sample SBA with tips and a section on how to earn marks in this componentAbout the authorPatricia Gopie has taught Economics for the past 20 years. She is currently the Head of Business at St. Joseph’s Convent, Trinidad. She has considerable experience as an Examiner and has participated in several examination item writing exercises.Please note that this is an eBook version of this title and can NOT be printed. For more information about eBooks, including how to download the software you’ll need, see our FAQs page.

Language
English
ISBN
9780230454095
Cover
Title
Copyright
Contents
List of figures and tables
Series preface
About this book
1 Basic economic concepts
The definition of economics
The scope of economics
Summary
Answers to ITQs
Examination-style questions
2 Economic decisions
Economic decisions
Influences on economic decisions
Summary
Answers to ITQs
Examination-style questions
3 Factors of production
Factors of production
Primary and secondary factors of production
Summary
Answers to ITQs
Examination-style questions
4 Economic systems
Resource allocation
Economic systems
Comparison of economic systems
Summary
Answers to ITQs
Examination-style questions
5 Costs in the short run and the long run
The cost of production
Summary
Answers to ITQs
Examination-style questions
6 Business organisations in the free market economy
Types of business organisation
Sole proprietorships
Partnerships
Joint stock companies
Cooperatives
Multinational corporations (MNCs)
Summary
Answers to ITQs
Examination-style questions
7 Economies and diseconomies of scale
Productive capacity
Economies of scale
Diseconomies of scale
Division of labour
Summary
Answers to ITQs
Examination-style questions
8 Market forces
Market forces
Determinants of demand
Summary
Answers to ITQs
Examination-style questions
9 The theory of supply
Firm and industry supply
Determinants of supply
Summary
Answers to ITQs
Examination-style questions
10 Equilibrium in the market
Demand and supply in the market
Shortages and surpluses
Shifts in demand and supply
Summary
Answers to ITQs
Examination-style questions
11 Elasticity
Elasticity
Degrees of elasticity
Factors affecting the price elasticity of demand
Price elasticity of supply
Summary
Answers to ITQs
Examination-style questions
12 Market structure
Spectrum of markets
Summary
Answers to ITQs
Examination-style questions
13 Market failure
Market failure
Causes of market failure
Consequences of market failure
Summary
Answers to ITQs
Examination-style questions
14 The financial sector
Money
Features of money
Functions of money
The money supply
The financial sector
The informal sector in Caribbean economies
Summary
Answers to ITQs
Examination-style questions
15 The central bank and other financial institutions
The central bank
Functions of the central bank
Commercial banks
Share market
Credit union
Development bank
Insurance company
Mutual fund
Building society
Investment trust company
Informal credit institutions
Financial instruments
Summary
Answers to ITQs
Examination-style questions
16 Government in the economy and national income
Introduction
Expenditure
The circular flow of income
National income
Nominal, real and potential output
Summary
Answers to ITQs
Examination-style questions
17 Inflation, recession and unemployment
Introduction
Policies used by government to achieve macroeconomic goals
Inflation and its causes
Consequences of inflation
Measures to reduce inflation
Recession
Unemployment
Summary
Answers to ITQs
Examination-style questions
18 Growth and development
Economic growth
Drivers of economic growth
Economic development
Growth versus development
Summary
Answers to ITQs
Examination-style questions
19 Trade unions
Trade unions
Types of trade union
Labour in the free market economy
Trade unions and the supply of labour
The role of trade unions in a free market economy
Some costs of trade union activity
Summary
Answers to ITQs
Examination-style questions
20 International trade
International trade
The rationale for international trade
Factors that influence international trade
The theory of absolute advantage
The theory of comparative advantage
Terms of trade
Gains from trade
Summary
Answers to ITQs
Examination-style questions
21 Exchange rates
Exchange rates
The fixed exchange rate system
The floating exchange rate system
Factors influencing the exchange rate
The managed exchange rate regime
Summary
Answers to ITQs
Examination-style questions
22 Balance of payments
Balance of payments
Structure of the balance of payments
Balance of payments deficits
Balance of payments surpluses
Summary
Answers to ITQs
Examination-style questions
23 Globalisation and trade liberalisation
Protectionism
Preferential tariffs
Trade liberalisation
Globalisation
Effects of trade liberalisation and globalisation
Summary
Answers to ITQs
Examination-style questions
24 Caribbean economies
Caribbean economies
Economic problems facing Caribbean economies
Development strategies for Caribbean economies in a globalised environment
Summary
Answers to ITQs
Examination-style questions
25 Economic integration and CARICOM Single Market and Economy
Economic integration
The CARICOM Single Market and Economy (CSME)
Examples of economic integration
Summary
Answers to ITQs
Examination-style questions
26 E-commerce
What is e-commerce?
Advantages of e-commerce
Challenges of e-commerce
Summary
Answers to ITQs
Examination-style questions
27 School-based assessment
Introduction
Choosing a topic and formulating a topic statement
Sample school-based assessment project
Conclusion
Answers to multiple choice questions
Index
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
Back Cover
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