Grade 12 Economics Summaries Term 1-4 (Micro-economics) – Noted Summaries

Grade 12 Economics Term 1 – 4 (Micro-economics) Summaries 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
• Markets
• Perfect Competition [Perfect Competition]
• Monopoly
• Monopolistic Competition
• Oligopoly
• Competition Policies
• Cost Concepts
• Income Claculations
• Maximisation of Profit
• Demand Curve
• Supply Curve
• Complementary Goods
• Supplementary Goods
• Absolute Pricing
• Relative Pricing
• Market Equilibrium [Market-clearing]
• Elasticity
• Inflation
• Tourism
• Indigenous Knowledge System [IKS]
• Environmental degradation (Decay)