O Level Last Minute Revision Questions
Most Important 40 Questions for Last Minute Revision in O Level Economics
1. What is meant by capital and identify two types of capital? Give examples. 2. Describe specialization and list its levels? 3. What are the features of a developing country? 4.…
O Level Last Minute Revision Questions
Most Frequent 40 Questions in O Level Economics
1. What is opportunity cost? 2. What are the four factors of production and their rewards? 3. What factors affect the demand for a normal product? 4. What are the advantages a…
Unit 1: Competitive Markets
Scarcity
Learning Outcomes On completion of the lesson, students are expected to; understand the problem of unlimited wants and finite resources. distinguish between renewable and non-renewable resour…
Unit 4: The Global Economy
4.8 What other measures can be used to promote growth and development?
What students need to learn: Content Students should be able to: Additional Guidance Notes Ways of promoting growth and development Consider factors such as…
Unit 4: The Global Economy
4.7 What is the role of the state in promoting growth and development?
What students need to learn: Content Students should be able to: Additional Guidance Notes Macro economic policies Evaluate the use of policies to achieve econom…
Unit 4: The Global Economy
4.6 What are the limits to growth and development in developed and developing countries?
What students need to learn: Content Students should be able to: Additional Guidance Notes Limits to growth and development Consider factors such as: poor …
Unit 4: The Global Economy
4.5 What is poverty and inequality in developed and developing countries?
What students need to learn: Content Students should be able to: Additional Guidance Notes Absolute and relative poverty Consider absolute and relative poverty…
Unit 4: The Global Economy
4.4 How does a country compete?
What students need to learn: Content Students should be able to: Additional Guidance Notes Measures of competitiveness Consider measures of comp…
Unit 4: The Global Economy
4.3 How is international trade recorded and financed?
What students need to learn: Content Students should be able to: Additional Guidance Notes Balance of Payments Understand the different componen…
Unit 4: The Global Economy
4.2 Why trade?
What students need to learn: Content Students should be able to: Additional Guidance Notes Patterns of trade Identify patterns of trade between …
Unit 4: The Global Economy
4.1 What are the causes and effects of globalization?
What students need to learn: Content Students should be able to: Additional Guidance Notes Causes of globalisation Identify factors contributing to globalisat…
Unit 3: Business Economics and Economic Efficiency
3.11 Why does the government intervene in markets to maintain competition?
What students need to learn: Content Students should be able to: Additional Guidance Notes Government intervention to maintain competition in markets …
Unit 3: Business Economics and Economic Efficiency
3.10 How does the threat of competition affect a firm’s behavior?
What students need to learn: Content Students should be able to: Additional Guidance Notes Contestability Define contestability and understand ho…
Unit 3: Business Economics and Economic Efficiency
3.9 What determines the behaviour of firms?
What students need to learn: Content Students should be able to: Additional Guidance Notes Perfect competition Understand the assumptions of perfect competition…
Unit 3: Business Economics and Economic Efficiency
3.8 What do we mean by market concentration?
What students need to learn: Content Students should be able to: Additional Guidance Notes Market concentration Understand market concentration r…
Unit 3: Business Economics and Economic Efficiency
3.7 What barriers exist to firms entering and leaving markets?
What students need to learn: Content Students should be able to: Additional Guidance Notes Barriers to market entry and exit Understand the meani…
Unit 3: Business Economics and Economic Efficiency
3.6 What is meant by profit?
What students need to learn: Content Students should be able to: Additional Guidance Notes Normal and supernormal profit Understand the distinc…
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