Economics

Scheme of work for Economics, SS1, First Term

len Alfred Ajibola - Wed, 17th June, 2020 @ 11:39: AM

Topics in Economics

Scheme of work for Economics, SS1, First Term Scheme of work for Economics, SS1, Second Term Scheme of Work for Economics, SS1, Third Term Functions of the Wholesaler Advantages and Disadvantages of the Wholesaler Wholesale Market: Who is a Wholesaler? Characteristics of the Wholesaler Retail Market: Who is a Retailer and Examples of Retailers Market: Types of Market Market - What is a Market in Economics? Elasticity of Supply: Types of Supply Elasticity Supply Elasticity: Elasticity of Supply explained Demand Schedule - Types of Demand Schedule Demand: What is Demand? Law of Demand Concept and Types of Cost Supply, Supply Curve and Law of Supply What is a Black Market, Its advantages and disadvantages Supply Curve, Graphical representation of Supply Curve Scale of Preference and Opportunity Cost


Academic Questions in Economics

Please check out our Test Your Knowledge page to see all Questions and Answers

Budget deficit refers to the amount by which _____.

  1. total expenditure exceeds revenue
  2. capital expenditure exceeds revenue
  3. recurrent expenditure exceeds revenue
  4. recurrent expenditure exceeds capital expenditure
  5. capital expenditure exceeds recurrent expenditure
  6. total expenditure exceeds capital and recurrent expenditure

What are infant industries in Economics?

  1. They are industries that are allowed enough time to mature for recognition
  2. They are industries that produce baby foods in addition to mother care products
  3. They are industries that are too young to compete in a thriving society
  4. They are industries that are constantly introducing new products
  5. They are industries that are under a parent company
  6. They are industries located in rural areas

Which of the theory did Malthus became popular for?

  • A. Population may outgrow the means of subsistence
  • B. The people will eventually decide not to have children
  • C. The death rate may become so high that people may not be able to produce
  • D. Migration of people from one place to another may leave the world barren
  • E. All of the above

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Economics Scheme of Work, SS1, 1st Term:

 

WEEK 1

Topic: Meaning of Economics and other related concepts

 

WEEK 2

Topic: Basic tools of Economic analysis
  • Give relevant examples with charts, graphs and tables
  • Construction of frequency of distribution

 

WEEK 3

Topic: Basic tools of Economic analysis
  • Meaning and measurement of central tendencies
  • Types of central tendencies (Mean, Median and Mode)
  • Merits, demerits and simple applications

 

WEEK 4

Topic: Concept of Demand and Supply

 

WEEK 5

Topic: Concept of Demand and Supply

 

WEEK 6

Topic: Concept of Demand and Supply

 

WEEK 7

Topic: Theory of Production

 

WEEK 8

Topic: Theory of Production

 

WEEK 9

Topic: Types and Production

 

WEEK 10

Topic: Basic economic problems in the society
  • Definition of economic system
  • Types of economic system (Capitalism)
  • Advantages and Disadvantages of capitalism

You can read on Motivational Quotes for Students here.

 

WEEK 11

Topic: Basic economic problems in the society

 

WEEK 12

Topic: Basic economic problems of the society
  • What to produce?
  • How to produce?
  • For whom to produce?
  • Efficiency on the use of resources

 

WEEK 13

Topic: Revision

 

WEEK 14

Topic: Examinations

 

Read Economics Scheme of Work for SS1, 2nd Term here

Read Economics Scheme of Work for SS1, 3rd Term here

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len

Alfred Ajibola is a Medical Biochemist, a passionate Academician with over 7 years of experience, a Versatile Writer, a Web Developer, a Cisco Certified Network Associate and a Cisco CyberOps Associate.


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Amazing facts in Economics


NOTABLE POINTS IN Economics

Scale of Preference can be defined as the list of a person's needs or wants written in an order of importance. 📜✍️

When you have a limited amount of money and could only buy some of the items on your list (the top items on the list); then the remaining items that you didn't buy will be generally considered as your opportunity cost.

Opportunity cost can be defined as the value of the best alternative that a person could have achieved or bought but couldn't achieve after the best choice had been achieved.

Opportunity cost are of two types

  1. Explicit Opportunity Cost
  2. Implicit Opportunity Cost

Please read on scale of Preference, Opportunity cost and the types of Opportunity cost here

Economics isn't just about money. It isn't just about economizing or efficiency or prudence at management. In simple terms, Economics is a science that deals with the study of scarcity and choice.

Economics have 2 main branches. They are

  • Microeconomics
  • Macroeconomics