Explore the economic issues and challenges facing individuals and firms and understand how resources are allocated in a mixed economy and a command economy
Apply the concepts of elasticity, price, consumer behaviour and utility maximisation to analyse economic issues and problems
Understand market structures and firms’ decisions to supply goods in the context of profit maximisation and gain a strong foundation for a practical problem-solving approach by using the technique of economic analysis
Explore market inefficiencies, social costs and benefits and gain a strong foundation for a practical problem-solving approach by using the technique of economic analysis.
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