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Economics (0455)
6 sections available · 39 chapters available
Free Economics (0455) revision notes for Cambridge IGCSE students. Each chapter covers a key topic with worked examples and practice prompts you can take straight into the thinka app.
The basic economic problem
The nature of the economic problem
The factors of production
Opportunity cost
Production possibility curve (PPC) diagrams
The allocation of resources
Microeconomics and macroeconomics
The role of markets in allocating resources
Demand
Supply
Price determination
Price changes
Price elasticity of demand (PED)
Price elasticity of supply (PES)
Market economic system
Market failure
Mixed economic system
Microeconomic decision makers
Money and banking
Households
Workers
Trade unions
Firms
Firms and production
Firms’ costs, revenue and objectives
Market structure
Government and the macroeconomy
The role of government
The macroeconomic aims of government
Fiscal policy
Monetary policy
Supply-side policy
Economic growth
Employment and unemployment
Inflation and deflation
Economic development
Living standards
Poverty
Population
Differences in economic development between countries
International trade and globalisation
International specialisation
Globalisation, free trade and protection
Foreign exchange rates
Current account of balance of payments
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