Unit 1 Basic economic ideas

Lecture notes Unit 1 - Basic economic ideas

Class notes on the topic of Economic Systems. Includes detailed descriptions and explanations of market economies, mixed economies, and planned economies. Notes on ownership of FOPs, allocation of resources, competition, role of government, decision making, externalities, and information failure.

Unit 1.2: Externalities - Definitions - Positive consumption externality - Negative consumption externality - Positive production externality - Negative production externality - cost-benefit analysis

Class notes on the topic of Opportunity Cost & PPF. Includes definitions, examples and diagrams regarding opportunity cost, PPF, production effieciency, production inefficiency, types of curves and causes of shifts.

Key concepts of A2 Basic Economics. Definitions and comprehensive summary and pointers with diagrams. i got A* with these self made notes. Use to revise and study.

Class notes on the topic of Basic Economic Ideas. An introduction to economics, including production and consumption, opportunity cost, the margin, the time dimension, scope of economics and resources

Class notes on the topic of Classification of Goods & Services. Includes definitions and explanations of types of goods and information failure.