eLearn Economics

Topic List

Aggregate Supply

Basic Concepts-Central Ideas

Basic Concepts-Resources (FOP)

Business Growth

Business- Sectors of the Economy

Business-Aspects of Markets

Business-Communication

Business-Competition & global connections

Business-Employee/employer relationships

Business-Finance

Business-Financial records

Business-Goals & Entrepreneurship

Business-Interdependence

Business-Legal influences

Business-Operational issues

Business-Stakeholders

Business-Sustainability & the business cycle

Business-Types of Ownership

Circular Flow Model- Basic ideas

Circular Flow Model-Full Model

Consumer/Producer Surplus-Basics

Consumer/Producer Surplus-Price Controls

Consumer/Producer Surplus-Subsidy

Consumer/Producer Surplus-Tax

Consumer/Producer Surplus-Trade

Core-Basic Concepts

Core-The Market

Cost-Benefit Analysis (CBA)

Costs-Accounting & Economic

Costs-Basic Concepts

Costs-Break-Even/Shut-Down/Diminishing Returns

Costs-Cost Curve Relationships

Costs-Economies of Scale

Demand-Basics Concepts

Demand-Conditions/Shifts

Demand-Types of Goods & Services

Economic Growth-Causes/Costs & Benefits

Economic Growth-Different Measures

Economic Growth-Savings/Investment

Economic Systems

Elasticity-Calculations (Ep, Es, Ey & Ex)

Elasticity-Cross (CED)

Elasticity-Demand, Basics

Elasticity-Demand, Calculations/Uses

Elasticity-Income (YED)

Elasticity-Supply, Basics

Elasticity-Supply, Calculations

Exchange Rates-Basics

Exchange Rates-Forex Market

Imperfect Competition-Features

Imperfect Competition-Monopoly

Imperfect Competition-MR=MC (Equilibrium )

Imperfect Competition-Revenue Curves

Inflation-Causes of

Inflation-General Price Level Changes

Inflation-Impacts

Inflation-Quantity Theory of Money (MV=PQ)

Inflation-Real Values

Inflation-The Consumer Price Index

Labour Market-Basics

Labour Market-Changes

Labour Market-Perfect/Imperfect

Linear Equations-Demand

Linear Equations-Supply

Linear Equations-The Market

Market Equilibrium-Basics

Market Equilibrium-Price/Output changes (Advanced)

Market Equilibrium-Price/Output changes (Basics)

Market Failure-Basics

Market Failure-Consumption Externalities

Market Failure-Income Inequality

Market Failure-Production Externalities

Monetary Policy

Natural Monopoly

Perfect Competition-Features

Perfect Competition-Long Run

Perfect Competition-MR=MC (Equilibrium)

Perfect Competition-Revenue Curves

Positive and Normative Statements

Price Competition & Non-Price Competition

Price Controls-Maximum Price

Price Controls-Minimum Price

Private Goods and Public Goods

Production & the Production Process

Production Possibility Curve-Basics

Production Possibility Curve-Shifts/Uses

Sales Tax and the Market

Sales Tax Incidence

Subsidy and the Market

Subsidy Incidence

Supply-Basics Concepts

Supply-Conditions/Shifts

Supply-side policies

Trade-Changing Pattern of Trade

Trade-Components of the Balance of Payments

Trade-Current Account Deficit

Trade-Free Trade

Trade-One Country Trade Model

Trade-Protectionism

Trade-Terms of Trade

Trade-Two Country Trade Model

Unemployment-Causes of/Types

Unemployment-Impacts & Policies

Unemployment-Statistics/Measures

Utility-Deriving demand

Utility-Equi-marginal rule

Basic Concepts-Central Ideas

Terms/Ideas:

Choice | Consumer | Economic Goods | Free Goods | Goods | Limited Means | Opportunity Cost | Scarcity | Service | The basic economic problem | The real cost of a decision | Wants | Why can individuals not have everything they want

Q1

QUESTION:

What does 'scarcity' mean in economics?

Q2

QUESTION:

Explain how the concept of choice, opportunity cost and scarcity are linked.

Q3

QUESTION:

The work of a mechanic or doctor is termed a:

Q4

QUESTION:

Christian believes it is important to travel and live a healthy lifestyle. Explain how his values may influence how he spends his money. In your answer discuss any conflict that may arise out of his decision and a compromise that he could use to satisfy both his values.

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Q5

QUESTION:

Jamie has worked a part-time job after school and earnt $2 000 which she will use to either put into a savings account, or spend it on a month long trip to Australia. Explain why a month long trip to Australia is a want rather than a need for Jamie.

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