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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
Labour market
Overview – Labour market
Topic outcome
The demand for labour
Demand for labour is a derived demand
Marginal revenue product of labour
Marginal revenue product is the demand for labour
Marginal revenue product and demand for labour
Market demand for labour
Changes in the demand for labour
Supply of labour
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