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The Study Field of Economics
Factors of Production
Opportunity Cost
Economic Systems
Production Possibilities Curve
Circular Flow Model
Demand, Supply and Prices
Changes in demand and supply
Consumer and Producer Surplus
Government intervention
Theory of demand
Price elasticity
Other elasticities
Theory of supply: Cost of production
Perfect competition
Imperfect competition
Labour market
Factors of Production
Overview – Factors of production
Topic outcome
Natural resources
Labour
Labour and income of labour
Capital
Capital and income from capital
Entrepreneurship
Entrepreneurship and income from entrepreneurship