ZIMSEC Advanced Level Economics Notes
These Notes are specifically made for the New Curriculum.
- Research techniques in Economics
- Measures of central tendency
- Presentation and Analysis of economic data
- Factors of Production
- Renewable and non-renewable resources
- Relationship between societal needs/wants and available economic resources
- Scarcity
- Choice
- Opportunity cost
- Economic systems
- market economy
- planned economy
- mixed economy
- Characteristics of successful entrepreneurs
- Sources of capital
- Business organisations
- Business ethics
- Individual and market demand curves
- Factors influencing demand
- Movements along and shifts of a demand curve
- Price, income and cross elasticities of demand
- Utility theories
- Marginal Utility Theory
- Indifference curves Theory
• Individual and market supply curves
• Factors influencing market supply
• Movements along and shifts of supply curves
• Equilibrium price and quantity
• Consumer surplus and producer surplus
• Elasticity of supply
• Determinants of elasticity of supply
• Short – run and long – run production function
• Production costs
• Long-run cost function
• Economies and diseconomies of scale, (internal and external).
• Growth of firms
• Survival of Small and Medium Enterprises
• Government support to SMEs
• Benefits of SMEs to society