Book Description

This book is specifically written for GCE/IGCSE/Edexcel/AQA/CIE O & AS Level students. These are exam notes for economics as revision guide.Need no time to prepare yourself for economics. It includes all the syllabus content described in a simple form for speedy preparation.Who else can get benefit of this book?Anyone or the beginner who wanted to learn about the economics from basics to an average level, will find this book very useful. This book covers all the areas and syllabus contents as required by any high school level curriculum.Following study areas are covered in this book.Basic Economic Terms and what is economic problem? - Understanding of Basic economic terminology like - Economic Problem, choice, needs, wants, goods, services - Economics, economy, market - opportunity cost, specialisation, What is resource Allocation and how this system works? - Resource allocation - Free market economic system - Planned economic system - Mixed economic systemWhat is demand and supply? - Demand, law of demand, shift in demand - Supply, law of supply, shift in supplyHow prices are decided in market economic system? - Market price, Equilibrium price, price mechanism, - Dis-equilibrium, effectsWhat is production cost and types of different costs? - Fixed cost, variable cost, total cost, average cost, - average fixed cost, average variable cost, marginal cost - Total product, marginal product, average product, - Break Even analysis, decision making Economies of scale and large scale production. - Why business grows? - Internal growth, external growth - Integration, take over, merger - horizontal, vertical and conglomerate integration - Different economies of scale - Different dis-economies of scale - External economies of scaleTypes of businesses - Public sector, private sector - Sole proprietorship, advantages and disadvantages - Partnership, deed, advantages and disadvantages - Joint stock companies, types, advantages, disadvantages, formation - franchise, advantages, disadvantages - corporations - joint venturesDifferent type of elasticities of demand and supply. - Price elasticity of demand, definition, curves, calculation, factors - Cross elasticity of demand, definition, curves, calculation, factors - Income elasticity of demand, definition, curves, calculation, factorsLabour market and how wages are decided.Unemployment and different factors affecting employment.How economy works?What is inflation, its types, causes and how it is measured?Fiscal Policy and its effects?Monetary policy and its effects?Supply side policy and its effects?What is economic growth, its effects and its measurement?Absolute and comparative advantage theoryInternational trade, imports and exportsWhat is balance of payment?Different type of market structures?What is money?What are banks, types and functions?Exchange rate, its effects and controls?Market failure and externalities?Population growth,causes and effects?Factors affecting saving, investment and consumption.This book is written in a manner that reader would get the knowledge quickly and has not to read a lot of text to understand the point. Brief, straight and to the point text for ease of reading and understanding.