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SS1: ECONOMICS - 1ST TERM

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  1. Introduction to Economics
    3 Topics
    |
    1 Quiz
  2. Basic Concept of Economics
    4 Topics
    |
    1 Quiz
    1. Basic Concept of Economics - Wants, Scarcity & Choice
    2. Basic Concept of Economics - Scale of Preference
    3. Basic Concept of Economics - Opportunity Cost
    4. Why We Study Economics
  3. Basic Tools for Economic Analysis
    8 Topics
    |
    1 Quiz
  4. Measure of Central Tendency
    4 Topics
    |
    1 Quiz
  5. Theory of Demand & Supply I
    5 Topics
    |
    1 Quiz
  6. Theory of Demand & Supply II
    7 Topics
    |
    1 Quiz
  7. Theory of Production I
    7 Topics
    |
    1 Quiz
  8. Theory of Production II
    4 Topics
    |
    1 Quiz
  9. Basic Economic Problems of the Society
    1 Topic
    |
    1 Quiz
  10. Economic System
    4 Topics
    |
    1 Quiz

Quizzes

  • excellence
SS1: ECONOMICS โ€“ 1ST TERM Basic Concept of Economics
Lesson 2 of 10
In Progress

Basic Concept of Economics

Performance Objectives:

At the end of this lesson, you should be able to:

  • Define want, scarcity, choice, and scale of preference
  • State the importance and advantages of scale of preference
  • Define opportunity cost
  • Explain the importance of Opportunity costย 
  • State the difference between opportunity cost and money cost
  • Give reasons why we study economics
Lesson Content
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