Chapter 3: Demand and Supply Part 3.3 – Supply: The Behaviour of Producers By Dr. Anthony Fok Introduction In the previous sections, we examined the behaviour of consumers through the concept of demand. However, prices in a market are not determined solely by buyers. Every market has another

Chapter 3: Demand and Supply Part 3.2 – Demand Curves, Movements and Shifts in Demand By Dr. Anthony Fok Understanding the Demand Curve Now that we understand the Law of Demand, the next step is learning how economists represent demand graphically. One of the most common reasons students lose

Chapter 3: Demand and Supply Part 3.1 – Understanding Markets and Demand By Dr. Anthony Fok Introduction Walk into any supermarket in Singapore and you will see thousands of products on the shelves. Rice from Thailand. Milk from Australia. Coffee from Brazil. Fresh vegetables from Malaysia.

Part 2.3 – Resource Allocation, Economic Systems and the Three Basic Economic Questions By Dr. Anthony Fok From Scarcity to Resource Allocation Now that we understand scarcity and opportunity cost, an important question naturally follows. How should society decide what to produce? This question

Part 2.2 – Opportunity Cost, Choice and the Production Possibility Curve (PPC) By Dr. Anthony Fok Opportunity Cost: The Most Important Concept in Economics If there is one concept that every A-Level Economics student must master, it is opportunity cost. Many experienced Economics educators

Chapter 2: What Is Economics? Part 2.1 – Understanding the Fundamental Economic Problem By Dr. Anthony Fok Introduction Before students can master demand and supply, inflation, unemployment or international trade, they must first understand one simple but powerful idea. Every topic in A-Level