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Our eventual aim of this learning session is to understand (and know ‘like the backs of our hands’) the following diagram: First we need to understand the difference between fixed and variable costs. This video by MJM Foodie handles this well: This is a very good interactive exercise to consolidate your understanding of the different [...]

These YouTube clips help us to understand some of the ideas to do with Market Failure. Some of the ideas in the first clip are not needed for IGCSE understanding (adverse selection and moral panic). 1) General understanding of Market Failure 2) Negative Externalities Explained Note this uses Marginal Costs and Marginal Benefits curves. Marginal [...]

From flickr.com. Uploaded on April 2, 2007 by SideLong Before starting to understand Price Elasticity of Supply, it is worth recapping Price Elasticity of Demand. Click on the following link: www.business2000.ie provides an interactive quiz on PED This site introduces the main concepts of Price Elasticity of Supply: Slideshow from http://www.econ.ucsb.edu This site gives a [...]

  Uploaded on November 25, 2005 by mknobil Some rights reserved Create a case-study document about the crisis in Darfur using the following resources: 1) The Guardian – Photo/Audio summary of  the crisis. 2) Map-based interactive GIS to show the geographic situation. 3) An organisation called ARC show some possible solutions. 4) Geographyalltheway on the Sudan [...]

  Good recap video: Good overview video: Activity: Recapping Factors Affecting Demand and Supply Econedlink Site Activity: Exploring changes in Supply and Demand Ecedweb Site Activity: How changes in Supply and/or Demand affect Market Equilibrium College Cram Site More sophisticated diagram analysis of teh same issue Whitenova Site Activity: Activity: Changes in Supply and Demand [...]

[Source: flickr.com Image by sludgegulper Some rights reserved] According to the International Monetary Fund (2000) the following economies can be categorised as making the transition from command to free market economies in recent history. Transition economies in Europe and the former Soviet Union CEE Albania, Bulgaria, Croatia, Czech Republic, FYR Macedonia, Hungary, Poland, Romania, Slovak Republic, [...]

[Source: commons.wikimedia.org Author fargomeD License GNU Free Documentation License] A population pyramid (or age sex structure) often tells a story. Detective Discussion points: What are the unusual features of the above age-sex structure? Can you suggest possible reasons? So how might this story look if we plotted the birth rates and death rates on the [...]

   [Source: flickr.com Image by Concrete Forms Some rights reserved] All economies need to answer the three basic questions which result from the fact of scarcity: What to produce How to produce For whom to produce For a market economy, we need to research the following: a) How it works – how does it answer the [...]

[Photo source: http://commons.wikimedia.org/wiki/File:Favelas-portoalegre.jpg Author: Tetraktys] Your overall tasks are to: 1)  Find out about some of the problems experienced by people who arrive in the shanty towns in Brazil’s large cities 2) Create a photo movie to show these problems experienced by people. These tasks should be completed over the course of one lesson and [...]

Image by bobster855 (flickr.com Some rights reserved ) All economies need to answer the three basic questions which result from the fact of scarcity: What to produce How to produce For whom to produce For a planned economy, we need to research the following: a) How it works – how does it answer the three [...]