Tag: economics
-
GCSE/IGCSE accounting revision notes section 1
What is accounting Accounting is the art of recording, classifying and presenting data in a manner that it may be used by other people. Accounting comes after book keeping What is book-keeping Book keeping only refers to the keeping of records in the appropriate books. Book keeping comes before accounting Purpose of measuring…
-
Commerce
Commerce Definition All those activities which are conducted to deliver the goods and services from producer to consumer It may be described as trade and aids to trade. Process of exchange of goods
-
Disadvantages of monopoly
Disadvantages of monopoly Inefficiency in production Does not cater to the demands of consumers May exploit the consumers as it is the only business providing the product May charge higher price by decreasing the supply
-
Studying Economics
Studying Economics Hey, I am going to share my experiences studying GCSE economics. At first it seemed really difficult, however as time passed things got easier with GCSE economics. I am going to give you some tips for studying Economics GCSE. Know the terms If you have taken economics as a subject you would know…
-
AP Scholar
Become an AP scholar AP exam stands for Advanced Placement. This exam is offered by the College Board, and is normally taken by the High school students of America and Canada. The American and Canadian universities base their decision of admitting students into colleges and universities on the basis of the AP score, High School…
-
Advantages of specialisation for an individual
Advantages of specialisation for an individual Productivity increases Increased experience Less wastage of time Efficiency increases
-
Trade unions role
Trade unions An organization of people who represent and protect the rights and interests of it members Trade unions demand: Higher wages Better working conditions If demands are not met they may take an industrial action (strike) Role of trade unions Protect the rights Negotiate with the management on behalf of the members (collective…
-
Agricultural/Manufacturing/Services earnings
Agricultural/manufacturing/services In the third world countries the agricultural workers are paid less than manufacturing worker because the supply of agricultural workers in third world countries is high. Workers belonging to the services industry earn more than the workers in manufacturing industry
-
Occupational choice
Factors affecting individual’s choice of occupation Wage factors Non-wage factors Wage factors Wages Overtime aka moonlighting Bonuses Commission Non-wage factors Job contentment Working conditions Fringe benefits Location and size of the firm
-
Functions money
Functions of money Medium of exchange Store of value Unit of account Standard for deferred payment