Economics Revision Notes
Cambridge IGCSE 0455 · 6 topics, in syllabus order.
Topic 1
The Basic Economic Problem
Scarcity, factors of production, opportunity cost and the production possibility curve.
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Topic 2
The Allocation of Resources
Demand, supply and equilibrium, elasticity, market failure and government intervention.
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Topic 3
Microeconomic Decision-Makers
Money and banking, households, workers, firms, costs and revenue, and types of market.
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Topic 4
Government and the Macroeconomy
Macroeconomic aims, fiscal, monetary and supply-side policy, growth, unemployment and inflation.
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Topic 5
Economic Development
Living standards, the HDI, poverty, population and differences in development.
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Topic 6
International Trade and Globalisation
Specialisation, trade restrictions, exchange rates and the balance of payments.
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