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Economics 4EC1/01R May June 2022

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1. Microeconomic Principles and Market Structures: Division of labor, price elasticity of demand, characteristics of inferior goods, supply curve shifts, and effects of minimum wage policies. 2. Costs, Revenues, and Business Decisions: Total cost calculations, variable costs, profit determination, production definitions, and cost structures of firms. 3. Labour Markets and Employment Trends: Supply of labor, wage factors, female workforce participation, productivity impacts, and job market changes due to automation. 4. Government Policies and Economic Interventions: Minimum wage effects, taxation policies, environmental regulations, and subsidies on public health initiatives. 5. Market Dynamics and Graphical Analysis: Demand and supply shifts, equilibrium price and quantity changes, and elasticity impacts on business profitability. 6. Globalization and Business Economics: Impact of multinational corporations, trade policies, currency fluctuations, and benefits and drawbacks of economic integration.
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