IGCSE Economic Notes on Allocation of Resources Free Preview

Topic 3 : Microeconomic decision makers

Sub-topics included are: factors affecting individual choice of occupation/ Wage determination/ Reasons for difference in earnings/ Specialization/Workers/Trade unions./Classification of firms/Small firms/Causes of growth of firms/Mergers/Economies and diseconomies of scale/ Demand for the factors of production/Labour intensive and capital intensive production/Production and productivity/Competitive and monopoly markets. Economics past papers where ever appropriate, giving you hints on what needs to be included as a part of your answers, these notes are an ideal guide for acing your  Sub-topics included are: factors affecting individual choice of occupation/ Wage determination/ Reasons for difference in earnings/ Specialization/Workers/Trade unions./Classification of firms/Small firms/Causes of growth of firms/Mergers/Economies and diseconomies of scale/ Demand for the factors of production/Labour intensive and capital intensive production/Production and productivity/Competitive and monopoly markets. Economics past papers where ever appropriate, giving you hints on what needs to be included as a part of your answers, these notes are an ideal guide for acing your IGCSE's

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