Grade 11 Economics Summaries Term 1-4 (Micro-economics) – Noted Summaries

Grade 11 Economics Summaries (Micro-economics) are composed using and combining the FOCUS, Via Afrika and Mind the Gap textbooks’ work with examples and supplementary notes by compiler (external party).

Contents:

• Basic Economic consents & principles
• Economic circular Flow
• Elasticity
• Markets
• Demand Curve
• Supply Curve
• Complementary Goods
• Supplementary Goods
• Absolute Pricing
• Relative Pricing
• Market Equilibrium [Market-clearing]
• Goals of enterprises [Cost Concepts]
• Income calculations
• Maximization of Profit
• Globalisation
• Environmental degradation (Decay)