144 Economics O Level Revision Notes Series by Shoaib Alvi

UNIT – 1 BASIC ECONOMIC PROBLEM
1.1: Scarcity
1.2: Types of goods
1.3: Factors of Production
1.4: Oppurtunity cost
1.5: Production Possibility Curve (PPC)
1.6: Past paper practice questions (M2016-N2018 topical questions)

UNIT – 2 ALLOCATION OF RESOURCES
2.1: Microeconomics vs Macroeconomics
2.2: Resource allocation and markets role
2.3: DEMAND
2.4: supply
2.5: Market equilibrium
2.6: Changes in market equilibrium
2.7: Price Elasticity of Demand (PED)
2.8: Price Elasticity of Supply (PES)
2.9: Market economic system
2.10: Market Failure
2.11: Mixed economic system
2.12: Past paper practice questions (M2016-N2018)

UNIT – 3 MICROECONOMIC DECISION MAKERS
3.1: Money and banking
3.2: Households
3.3: Labor markets
3.4: Trade unions
3.5: Firms
3.6: Production, costs and revenue
3.7: Market structure and monopoly
3.8: Past paper practice questions (M2016-N2018)

UNIT – 4 GOVERNMENT AND MACROECONMY
4.1: The role of the government
4.2: Macroeconomic aims of the government
4.3: Fiscal Policy & Taxes
4.4: Monetary Policy
4.5: Supply-side policy
4.6: Economic growth
4.7: Employment and unemployment
4.8: Inflation and deflation
4.9: Past paper practice (M2016-N2018)

UNIT – 5 ECONOMIC DEVELOPMENT
5.1: Development
5.2: Population
5.3: Past paper practice questions (M2016-N2018)

UNIT – 6 INTERNATIONAL TRADE AND GLOBALIZATION
6.1: International specialization
6.2: Free trade and protectionism
6.3: Exchange rates
6.4: Structure of the Current Account of the Balance of Payments
6.5: Past paper practice questions (M2016-N2018)

Exam pointers
Formula Index
Bibliography/References