O LevelEconomicsCambridge (CIE)Revision Notes

Cambridge (CIE) O Level Economics Revision Notes

Exam code: 2281

Concise resources for the Cambridge (CIE) O Level Economics course.

Syllabus Edition

First teaching 2018

·

Last exams 2026

1. The Basic Economic Problem

The Factors & Their Rewards

Changes to the Factors of Production

Opportunity Cost in Decision Making

PPC & Economic Growth

2. The Allocation of Resources

Differences Between Micro & Macro

The (Free) Market System

Demand, Price & Quantity

Conditions of Demand

Supply, Price & Quantity

Conditions of Supply

Equilibrium & Disequilibrium

Changing Market Conditions

Calculation & Determinants of PED

The Significance of PED

Calculation, Determinants & Significance of PES

The (Free) Market System

Market Failure Terminology

Causes & Consequences

Government Intervention to Address Market Failure

Characteristics of a Mixed Economic System

5. Economic Development

Indicators of Living Standards

Living Standards & Income Distribution

Causes of Poverty

Policies to Alleviate Poverty

Population Growth

Effects of Changing Population Sizes

Reasons for Differences in Development

6. International Trade & Globalisation

Reasons for National Specialisation

Introduction to Exchange Rates

Exchange Rate Fluctuations

Components of the Current Account

Deficits & Surpluses

Stabilisation Policies

Study tools

Related links