1. Production Possibility Curve (PPC) and Market Structures: Understanding resource allocation, business profit maximization, and monopoly definitions.
2. Cost and Revenue Analysis: Calculating total cost, average cost, and profit/loss per unit of production.
3. Government Policies and Market Intervention: Effects of taxation, subsidies, and fines in addressing economic issues and externalities.
4. Labour Market and Education Policy: Impact of raising the school-leaving age on workforce supply and wage determination.
5. Privatization and Economic Growth: Benefits of privatization, multinational corporations (MNCs), and investment decisions.
6. Market Dynamics and Consumer Behavior: Price elasticity of demand, shifts in supply and demand, and impact of competition on businesses.
omer uner
Classification: Paper 1
Page count: 24
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Last update: 7 months ago
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