Before studying the Cambridge O Level Economics syllabus, one should know that basically what is economics? Economics in simple terms is the study of limited resources and how the economy uses these resources in the manufacture, allocation and utilization of goods and services.
O Level study of subjects is based on conceptual but in depth knowledge of a subject that’s why this subject gives the students a detail knowledge of available resources in the society and scarcity of these resources, how to utilize these resources in manufacturing and allocation of goods and services that gives a benefit to consumers and producers. The learners not only get the knowledge of the economic theory but learn to assess the difference between the positive and normative statements on the economical issues of the economy. The learners learn how to apply the analysis in the developing countries.
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