Cambridge IGCSE and O Level Economics 2nd Edition

Economics relates to every aspect of our lives, from the decisions we make as individuals to the structures created by governments and firms. Thinking like an economist can help us make better choices. This series is for students new to Economics, helping them understand economic theory, terminology and principles. Cambridge IGCSE and O Level Economics helps students apply tools of economic analysis, make judgements on issues, use basic economic numeracy and literacy, and take greater part in decision-making processes in everyday life. If you would like help introducing Economics to your students, you might be interested in the new Getting started with Cambridge IGCSE and O Level Economics. The book helps students who may be learning about Economics for the first time understand the subject and its relevance.

Economics relates to every aspect of our lives, from the decisions we make as individuals to the structures created by governments and firms. Thinking like an economist can help us all make better choices. With exam-style questions and specific skills practice, this revision guide helps students build their knowledge and understanding of economic theory, giving them confidence to achieve their potential in examinations. Answers are at the back of the book so that students are free to self-study.

Features

Sample questions and example answers highlight important skills when answering questions.

Exam-style multiple choice questions at the end of every chapter give students regular opportunities to practise their skills and boost confidence in preparation for assessment.

Exam-style data response questions at the end of each section give students practice analysing information.

Progress check questions encourage students to reflect on their learning and build their knowledge.

CONTENTS

• Introduction
• Section 1. The basic economic problem
• Chapter 1. The nature of the economic problem
• Chapter 2. Factors of production
• Chapter 3. Opportunity cost
• Chapter 4. Production possibility curves
• Exam-style structured questions for Section 1
• Section 2. The allocation of resources
• Chapter 5. Microeconomics and macroeconomics
• Chapter 6. The role of markets in allocating resources
• Chapter 7. Demand
• Chapter 8. Supply
• Chapter 9. Price determination
• Chapter 10. Causes of price changes
• Chapter 11. Price elasticity of demand
• Chapter 12. Price elasticity of supply
• Chapter 13. Market economic system
• Chapter 14. Market failure
• Chapter 15. Mixed economic system
• Exam-style structured questions for Section 2
• Section 3. Microeconomic decision makers
• Chapter 16. Money and banking
• Chapter 17. Households
• Chapter 18. Workers
• Chapter 19. Trade unions
• Chapter 20. Firms
• Chapter 21. Firms and production
• Chapter 22. Firms? costs, revenue and objectives
• Chapter 23. Market structure
• Exam-style structured questions for Section 3
• Section 4. Government and the macroeconomy
• Chapter 24. The role of government
• Chapter 25. The macroeconomic aims of government
• Chapter 26. Fiscal policy
• Chapter 27. Monetary policy
• Chapter 28. Supply-side policy
• Chapter 29. Economic growth
• Chapter 30. Employment and unemployment
• Chapter 31. Inflation and deflation
• Exam-style structured questions for Section 4
• Section 5. Economic development
• Chapter 32. Living standards
• Chapter 33. Poverty
• Chapter 34. Population
• Chapter 35. Differences in economic development between countries
• Exam-style structured questions for Section 5
• Section 6. International trade and globalisation
• Chapter 36. International specialisation
• Chapter 37. Free trade and protection
• Chapter 38. Foreign exchange rates
• Chapter 39. Current account of the balance of payments
• Exam-style structured questions for Section 6
• Suggested Answers
• Glossary