StudyPath

BFN 112 Principles of Economics 1

ND1 levelManagement & Administration15 topics

BFN 112 covers 15 topics. StudyPath paces them into daily study sessions that finish before your exam date, with practice questions and worked answers for each one.

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Course outline

The topics this course covers, in teaching order.

  1. Nature and Scope of Economics
  2. Methods of Economic Analysis
  3. Basic Economic Problems and Production Possibility Frontier
  4. Economic Systems and Mixed Economy
  5. Role of Government in a Mixed Economy
  6. Characteristics of Modern Economy
  7. Demand Analysis
  8. Supply Analysis
  9. Market Equilibrium and Price Determination
  10. Production Theory
  11. Costs of Production
  12. Perfect Competition
  13. Monopoly and Price Discrimination
  14. Monopolistic Competition, Duopoly and Oligopoly
  15. Distribution Theory and Factor Pricing

A sample from this course

One topic, as StudyPath teaches it.

Nature and Scope of Economics

Economics is the study of how societies use scarce resources to meet unlimited wants. Mastering its nature—its focus on scarcity, choice, and value—and its scope—micro‑ and macro‑economics, applied and theoretical strands—lets students analyse real‑world problems and answer exam questions accurately.

What you get for BFN 112