What you will learn:
The following topics are covered:
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1 The study field of economics
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2 The economist’s toolkit
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3 Economic systems
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4 Produtction possibilities curve
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5 Circular flow
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6 Demand, supply and prices
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7 Consumer and producer surplus
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8 Changes in demand and supply
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9 Government intervention
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10 Price elasticity
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11 Other elasticities
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12 Theory of demand: Marginal utility analysis
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13 Theory of supply: Cost of production
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14 Perfect and imperfect competition
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15 Labour market
Who is this for?
UNISA and other Universities first year students.
No Assignment Guides
ECS1501: Topic 1 - The study field of economics
Take 20minutes to learn the following:
- explain the economic problem of scarcity
- explain the meaning of unlimited needs and wants and scarce resources
- distinguish between scarce goods and free goods
- explain the three fundamental questions
- describe and distinguish between the factors of production and give examples of each
- explain the concept opportunity cost
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R20
- Add to cart
ECS1501: Topic 2 - The economist’s toolkit
Straight to the point notes for you to be able to:
- Explain how economists test hypotheses, develop economic theories, and use models in their analyses.
- Explain how the all-other-things unchanged (ceteris paribus) problem and the fallacy of false cause affect the testing of economic hypotheses and how economists try to overcome these problems.
- Distinguish between normative and positive statements.
- Distinguish between microeconomics and macroeconomics
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R18
- Add to cart
No Tutorial Videos
No Exam Packs
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