Economics

Welcome to Economics keypoint page. Revision notes for your Economics O-Level exams like WAEC, JAMB, NECO, and NABTEB.

Definitions of Economics

Basic Concepts in Economics

Importance of Economics

Basic Economic Systems

Basic Economic Problems

Basic Tools of Economic Analysis

Measures of Central Tendency

Measures of Dispersion or Variation

Utility

The Theory of Demand and Supply

Exceptional Demand Curve

Types of Demand

Elasticity of Demand

Supply

Expansion or Contraction of Supply

Types of Elasticity of Supply

Determinants of Elasticity of Supply

Elasticity of Supply

Equilibrium Price

Production Definition

Types of Production

Factors of Production

Theory of Cost

Revenue Cost

Division of Labour and Specialization

The Law of Diminshing Returns

Scale Production

Production Possibility Curve (p.p.c)

Basic Concept of Prodution

Factors Affecting Productivity

Optimum Theory of Production

Business Organizations

Sole Proprietorship or One Man Business

Partnership Business

Joint Stock Company or Limited Liability Company

Co-operative Society

Public Enterprises

Population Definition

Factors Affecting Population Size

Malthusian Theory of Population

Demographic Transition Theory of Population

Causes of Rapid Population Growth Rate

Economic Effects of Rapid Population Growth Rate

Remedies to Controlling High Growth Rate

Population Distribution Definition

Factors Affecting Population Distribution

Age Distribution

Sex Distribution

Geographical Distribution

Occupational Distribution