This lesson is specially designed for JC 1 students to revise just before their promotional examinations. It is a crash course on Scarcity, Choice and the rational decision-making process, Demand, Supply, Price Elasticity of Demand, Price Elasticity of Supply, Income Elasticity of Demand and Cross Elasticity of Demand. Students will also learn the applications of demand and supply analysis to real-world markets. Topics such as price controls (price floor and price ceilings), total expenditure and total revenue, incidence of tax and subsidies will also be covered. Students will learn important evaluation points for higher-order thinking questions to get that coveted A grade.
Video 1 Duration: 2 hours 46 minutes
Video 2 Duration: 2 hours 54 minutes
Video 3 Duration: 2 hours 32 minutes