ECONOMICS SSS 2
ECONOMICS (ECONS) SSS 2- FIRST TERM
1. Tools of Economic Analysis
2. Concept of Demand and Supply
3. The Production Possibility Curve
4. Cost Concepts
5. Revenue Concepts- total, average and marginal revenue; Marginal revenue Product
6. Economic Systems
– Types and Features of Economic systems
Lessons
YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 First Term Economics, Lesson 1 .Tools of Economic Analysis
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 First Term Economics, Lesson 2. Concept of Demand and Supply
Demand and Supply Analysis What is Demand and Supply Analysis? The demand and supply analysis focuses on the demand for a product or service and maximum production-distribution capabilities. It highlights the gap between the market’s requirements and the fulfillment of goods and services. This analysis is based on the law of demand and the …. Read More
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 First Term Economics, Lesson 3. The Production Possibility Curve.
The Production Possibility Curve. DEFINITION A production possibilities curve in economics measures the maximum output of two goods using a fixed amount of input. The input is any combination of the four factors of production: natural resources (including land), labor, capital goods, and entrepreneurship. Definition and …. Read More
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 First Term Economics, Lesson 4. Theory: of Production- Introduction. WAEC, Class And School Scheme.IGCSCE.
Theory of Production Compulsory Topics to learn here. -Production: division of labour and specialization. -Scale of production (Internal and External economies), concept of total, average and marginal productivity and law of variable proportions. – THEORY OF COST AND REVENUE (i) Cost concepts: total cost, average cost, marginal cost, variable cost, fixed cost; short …. Read More
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 First Term Economics, Lesson 5. Microeconomics- Theory of Cost and Revenue. WAEC, SS2 Class And School Scheme.IGCSCE
Theory of Cost and Revenue. The determination of the price for a product or service is not easy. Several other factors govern it. The theory of cost definition states that the costs of a business highly determine its supply and spendings. The modern theory of cost in Economics looks into the concepts …. Read More
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 First Term Economics, Lesson 6. Microeconomics- Theory of Cost and Revenue- Cost Concept. WAEC, SS2 Class And School Scheme. IGCSCE
Theory of Cost and Revenue- Cost Concept Cost analysis is all about the study of the behavior of cost with respect to various production criteria like the scale of operations, prices of the factors of production, size of output, etc. It is all about the financial aspects of production. In …. Read More
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 First Term Economics, Lesson 7. Microeconomics- Cost Concept: Distinction Between Economic Cost and Accounting in Respect to How Accountant and Economist Views Cost WAEC, SS2 Class And School Scheme. IGCSCE.
Microeconomics- Cost Concept Distinction Between Economic Cost and Accounting in Respect to How Accountant and Economist Views Cost. Running a business demands that you keep a pulse on the financial factors that affect net profits. Two of those factors are accounting costs and economic costs. Although the two terms sound similar …. Read More
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐/First Term Economics, Lesson 8. Revenue Concepts
Revenue Concepts In order to understand markets and economic activities, it is important to have a good grip on the basic concepts of revenue. In this lesson, we will talk about the basic concepts of revenue and its types. Basic Concepts of …. Read More
HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐 SCHOOL, SS2 HA’YHWH🛐 YESHUA 🛐HAMASCHIAC🛐/First Term Economics, Lesson 9. Economic Systems of the Earth: Types and Features of Economic systems
Economic Systems of the Earth: Types and Features of Economic systems An economic system is the method that a government or society uses to arrange and distribute resources, including goods and services, throughout a geographic area. Explore the definition, types, and examples of economic systems, including planned, market, and mixed market …. Read More