Developed by the
Nigerian Educational Research and Development Council (NERDC)
|PRINCIPLES OF ECONOMICS|
|i. Simple linear equations,|
measures of dispersion.
– pie chart
– bar chart
|i. Demand and supply curves.|
ii. Laws of demand and supply.
iii. Factors affecting demand and
iv. Types of demand and supply.
|i. Production possibility curve.|
ii. Concept of total average and
iii. Laws of variable proportion.
|i. Basic cost concepts: |
– Total average
– marginal, fixed, variable,
short-run, and long run cost.
ii. Distinction between economist
and accountant’s view of cost.
|i. Concepts of revenue: total |
average and marginal revenue.
Revenue schedules and curves.