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IGCSE Economics Revision
Chapter 1 Key Economic Concepts. What is Economics? Job Market Housing Market Consumer Mkt. Manufacturing Education Taxes Banking and investing International.
WARM UP Make a list of 10 things you want!!! What is the difference between a “Need” vs. a “want”?
1 Economics Introduction to Basic Concepts. 2 Economic perspective: An unique way of thinking about economic issues Scarcity and Choice Rational Behavior.
Supply and Demand 1.2. Market Economy How are prices determined in a “market economy”? What does the term “market economy” mean?
Welcome to Economics! Turn your homework into the box Find a seat where you are free from distractions and be seated when the bell rings. Turn your.
Introduction to Economics “The Basic Concepts of Economics”
WHAT IS ECONOMICS? 1 CHAPTER. Understanding Our Changing World You are studying economics at a time of enormous change. Some of the change is for the.
