What students need to learn:
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Content
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Students should be able to:
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Additional Guidance Notes
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Price mechanism
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Apply the price mechanism in markets, such as goods, services,
commodities or labour.
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Students should be able to apply the determinants of demand and supply
to various markets, for example, price of stock market shares, oil, precious
metals and agricultural commodities.
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Indirect taxes and subsidies
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Use supply and demand analysis to demonstrate the impact and incidence
of taxes and subsidies on consumers, producers and the government.
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Students should be aware of the importance of elasticities of demand
and supply, for example, in relation to government indirect taxes and subsidies.
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Post by Oscar Maldives.
