Igcse economics notes Study guides, Revision notes & Summaries
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023
- Summary • 18 pages • 2023
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023. The Basic Economic 
Problem 
1.1. Economic Problem 
There are too few productive resources to make all the 
goods and services that consumers need and want. 
Unlimited wants and limited resources 
Scarcity of resources is the basic economic problem 
Types of goods 
Economic goods: A good or service that has a degree of 
scarcity and therefore an opportunity cost. 
Free goods: A good or service that is not scarce and is 
available in abundance. F...
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023
- Summary • 18 pages • 2023
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023. The Basic Economic 
Problem 
1.1. Economic Problem 
There are too few productive resources to make all the 
goods and services that consumers need and want. 
Unlimited wants and limited resources 
Scarcity of resources is the basic economic problem 
Types of goods 
Economic goods: A good or service that has a degree of 
scarcity and therefore an opportunity cost. 
Free goods: A good or service that is not scarce and is 
available in abundance. F...
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IGCSE Economics 0455 Notes (Chapter 1-2)
- Exam (elaborations) • 14 pages • 2024
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IGCSE Economics 0455 
Notes (Chapter 1-2)
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IGCSE Economics 0455 Notes (Chapter 1-2) For 2023
- Summary • 23 pages • 2023
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IGCSE Economics 0455 Notes (Chapter 1-2) For 2023. Need ⇒ goods or services necessary for survival 
Want ⇒ goods or services NOT necessary for survival 
Finite resources ⇒ resources that will eventually run out 
Renewable resources ⇒ resources that can be replaced as they are used to produce 
goods or services 
The economic problem ⇒ limited resources and unlimited wants which leads to a 
problem called scarcity 
Scarcity ⇒ an economic problem where the resources are not enough to sa...
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IGCSE ECONOMICS EDEXCEL SUMMARY (whole syllabus!!)
- Summary • 32 pages • 2023
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This is the whole IGCSE Economics Syllabus summarized, with easy-to understand terminology, definitions and some diagrams. Furthermore, each point is separated into bullet points for easy note taking! I hope this helps with your studies!
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IGCSE Economics Section Unit 5 Revision Notes 2023
- Summary • 12 pages • 2023
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IGCSE Economics Section Unit 5 Revision Notes 2023. Living standards or standards of living refer to all the factors that 
contribute to a person’s well-being and happiness 
Measuring Living Standards 
 GDP per head/capita: this measures the average income per person 
in an economy. 
Real GDP per capita = Real GDP / Population 
Merits of using GDP per capita to measure living standards: 
 GDP is a useful measure of the total production taking place in the 
country, and so indicates the m...
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023
- Exam (elaborations) • 18 pages • 2023
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CAIE IGCSE 
ECONOMICS (0455) 
SUMMARIZED NOTES 
2023
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IGCSE Economics 0455 Notes (Chapter 1-2)
- Exam (elaborations) • 8 pages • 2024
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IGCSE Economics 0455 
Notes (Chapter 1-2)
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IGCSE Economics Section Unit 5 Revision Notes
- Summary • 12 pages • 2023
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- £8.52
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IGCSE Economics Section Unit 5 Revision Notes. Living Standards 
Living standards or standards of living refer to all the factors that 
contribute to a person’s well-being and happiness 
Measuring Living Standards 
 GDP per head/capita: this measures the average income per person 
in an economy. 
Real GDP per capita = Real GDP / Population 
Merits of using GDP per capita to measure living standards: 
 GDP is a useful measure of the total production taking place in the 
country, and so in...
-
IGCSE Economics Section Unit 5 Revision Notes
- Exam (elaborations) • 12 pages • 2023
-
- £11.36
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IGCSE Economics 
Section Unit 5 
Revision Notes