Economics Mind maps
three new mind maps for GCSE Economics haved been added to the Mindmap gallary of dineshbakshi.com.
These mind maps are an excellent way to revise for these topics during examinations.
There are many more mindmaps available in this section.
Click here to goto Mind maps sections
These mind maps are
Market Failure
Exchange Rates
Money and Financial Institutions
A Level Economics Revision notes
A Level Economics revision notes are now available at dineshbakshi.com. At present Unit 1 and Unit 2 of CIE A Level Economics (Code 9708) have been uploaded. These notes are concise and are an ideal resource for revision.
Soon more notes on A Levels Economics will be available.
keep in touch.
Click here to goto A Level Economics Revision notes
Free Trade Zones
What is a free trade zone?
Free trade zones, describe an arrangement where different trading entities, usually member countries, agree to cut or scrap taxes in order to lower business costs and remove bureaucracy. They are also known as “special economic zones” and are mostly found in developing economies. The aim is to give a massive artificial boost to trade, especially between raw material producers and manufacturing based economies. These zones are also attractive to foreign investors as it’s cheaper for them to do business there.
Read more about ‘Free trade zones in Africa’ in this BBC Article. Click here
Woksheet-inflation, unemployment
Worksheet for IGCSE GCSE Economics on Inflation and unemployment is available on dineshbakshi.com. This worksheet is has exam style structured questions which tests the students on inflation and umemployment topics.
Click here to goto the worksheet
Worksheet -Labour Market
Labour market is all about demand and supply of labour in an economy. We know that demand for labour is ‘derived demand’.
What are wages?
Wages are the reward to the factor of production – Labour. Wages are also regarded as the Price of labour. Wages are payments made to labour. Price of labour is determined by the market forces i.e. demand and supply.
Demand for labour
The demand for labour is a derived demand. It means that the demand for labour is linked with the products or services they produce. If the demand for those commodities rises the demand for labour also rises.
Factors affecting the demand for labour
- Derived demand
The demand for labour is always derived from the demand for the good or service it produces. Thus if the demand for a particular goods or service increase it will lead to a rise in demand for labour used to produce those commodities. Recently there has been an increased demand for software professionals due to the increased demand for IT products. - Wage rates
A fall in wages will cause an extension in the demand for labour while a rise in wages paid to works will cause a contraction in demand. - Technology used
In industries where there is improved technology can be used, the demand for labour will tend to fall as producers will replace labour with sophisticated machinery.
For revision notes and interactive quizzes on labour market click here
Worksheet on labour market click here
UK economy continues to shrink
Britain’s economy shrank more than twice as fast as analysts had expected in the second quarter of this year, according to the latest figures from the Office for National Statistics.
The fall between April and June means a speedy recovery from the recession looks much more unlikely.
What is a Stock Exchange?
Bombay Stock exchange
Stock exchange is a market where shares of public limited companies are bought and sold. Shares are at first issued by a Public Limited company through a ‘public offer’. Potential investors read the ‘Prospectus’ of the company which contains vital information about the nature of company, its directors, risk involved in investment and so on. After reading the ‘Prospectus’ any person who wishes to buy the shares fills an application for purchase of shares. Once the person obtains the number of Shares (usually a certificate) he/she is open to sell it to anybody, anytime he wants. At this point the Stock Exchange comes in the picture. This person(Shareholder) can ‘offer’ his shares for sale on the stock exchange. He will set a price to it. On the other hand if there is any one interested in buying Shares of this company can ‘Bid’ for these shares. If the price matches, the deal takes place.
Share markets are known as Secondary market. Usually Stock exchanges a companies and they earn their income in the form of commission on these transactions.
Get more information about Stock Exchanges. Click here.
Watch these video to know more about Stock exchanges
Tour of London Stock Exchange. Click here
Wall Street trader’s NYSE tour. Click here
What is a Recession?
Merry Christmas and a happy and prosperous new year.
But this New Year may not bring good news as many economies plunges into a recession. Unemployment rates is increasing and GDP growth rate is falling. Everyone is talking about ECONOMY and FINANCIAL CRISIS. For IGCSE and GCSE students this ‘RECESSION’ might be a new term altogether. Moreover it is also important to know what happens during a recession.
Recession is defined as a period of reduced economic activity, a business cycle contraction.
The U.S.-based National Bureau of Economic Research (NBER) defines economic recession as:
“a significant decline in [the] economic activity spread across the economy, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales.”
Check out detailed notes on Recession…
New Interactive quizzes on Unemployment
8 new interactive revision quizzes launched. These interactive quizzes cover Unemployment and Economic Growth unit of the syllabus. Most of these quizzes are multiple choice which is an important component of IGCSE Economics. One quiz (Match up quiz) is a flash based quiz where the students have to match the right options. Match up quiz is covering Unemployment topic.
To play these quizzes CLICK HERE
To revise (revision notes) before attempting these quizzes CLICK HERE
To attempt a Case study on Unemployment CLICK HERE
Case-study- Unemployment
Unemployment in UK has reached 11 years high. Clearly the main reason for it is the reduced aggregate demand in the economy due to the global crises.
This case study covers the ‘Unemployment’ topic. Students read about the the lastest unemployment figures in UK (report from BBC). Students are tested on the concept of umemployment, the cost of unemployment and ways of reducing unemployment.
Notes on Unemployment on dineshbakshi.com would be very useful for giving an indept understanding on this topic. Click here
Click here to attempt the case study