Cambridge O Level Economics Student's Book

Introduction; Preparing for the examination; Section 1. The Basic Economic Problem: Unit 1. Scarcity; Unit 2. Factors of Production; Unit 3. Opportunity Cost; Answer key; Examination practice; Section 2. Allocation of Resources: Unit 4. Market and Mixed Economies; Unit 5. Equilibrium Price; Unit 6. Changes in Demand; Unit 7. Changes in Supply; Unit 8. Price Elasticity of Demand; Unit 9. Price Elasticity of Supply; Unit 10. Merits of the Market System; Unit 11. Market Failure; Unit 12. Use of Resources; Unit 13. Public Expenditure versus Private Expenditure; Answer key; Examination practice; Section 3. The Individual as Producer, Consumer and Borrower: Unit 14. Specialisation, Exchange and Money; Unit 15. Banks; Unit 16. Stock Exchanges; Unit 17. Choice of Occupation; Unit 18. Differences in Earnings; Unit 19. Changes in Earnings; Unit 20. Trade Unions; Unit 21. Motives for Spending, Saving and Borrowing; Unit 22. Differences in Expenditure Patterns; Answer key; Examination practice; Section 4. The Private Firm as Producer and Employer: Unit 23. Types of Business Organisations; Unit 24. Demand for Factors of Production; Unit 25. Costs of Production; Unit 26. Principle of Profit Maximisation; Unit 27. Pricing and Output Strategies; Unit 28. Different Size of Firms and Integration; Unit 29. Economies of Scale; Answer key; Examination practice; Section 5. Role of Government in an Economy: Unit 30. The Government as a Producer and an Employer; Unit 31. Aims of Government; Unit 32. The Government's Influence on Private Producers; Unit 33. Conflicts between Government Aims; Unit 34. Types of Taxation; Unit 35. Incidence and Impact of Taxation; Answer key; Examination practice; Section 6. Economic Indicators: Unit 36. Consumer Prices Index; Unit 37. Causes and Consequences of Inflation and Deflation; Unit 38. Employment; Unit 39. Causes and Consequences of Unemployment; Unit 40. Gross Domestic Product and Economic Growth; Unit 41. Living Standards; Answer key; Examination practice; Section 7. Developed and Developing Countries; Unit 42. Different Stages of Development; Unit 43. Inequality and Poverty; Unit 44. Population Growth; Unit 45. The Effects of Changes in Population; Unit 46. Problems of Development; Answer key; Examination practice; Section 8. International Aspects: Unit 47. The Structure of the Balance of Payments; Unit 48. Changing Patterns of Exports and Imports; Unit 49. International Trade; Unit 50. Exchange Rates; Unit 51. Changes in Exchange Rates; Unit 52. Free Trade and Protection; Answer key; Examination practice; Answers to examination practice questions; Additional structured questions; Useful resources; Index.