UNDERSTANDING ECONOMICS
Important Information for Teachers and Students
CHAPTER ONE:NATURE AND SCOPE OF ECONOMICS
CHAPTER TWO: THE PRICE THEORY
CHAPTER THREE: PRODUCTION THEORY AND MARKET STRUCTURES
Introduction
Production Theory
Types of Production:
Levels of Production
Land, labour, and capital
Concept of Factor Pricing/Distribution Theory
Demand for a factor
Supply of a factor.
Factor rewards
Economic rent and Transfer earnings.
Interest
Profits
Factor Combination.
Production function
The law of returns to scale
The theory of a firm
The theory of costs
The theory of revenue
The concept of market structures
Perfect Competition
Monopoly
Monopolistic Competition
Oligopoly
Minor forms of market structures
Monopsony
Duopsony
Duopoly
Oligopsony
Production costs
Market price
Marginal utility
Labour theory of value
Effective demand
Perfect competition
Cost
Accounting vs opportunity costs
Cost estimates and cost overrun
CHAPTER FOUR: NATIONAL INCOME
CHAPTER FIVE: THE STRUCTURE OF UGANDA'S ECONOMY
CHAPTER SIX:ECONOMIC GROWTH AND ECONOMIC DEVELOPMENT
CHAPTER SEVEN:DEVELOPMENT PROCESS AND CHOICE OF A DEVELOPMENT STRATEGY
CHAPTER EIGHT:DEVELOPMENT OF AGRICULTURE AND INDUSTRY
CHAPTER NINE: POPULATION AND LABOUR
CHAPTER TEN:EMPLOYMENT AND UNEMPLOYMENT
CHAPTER ELEVEN:MONEY AND BANKING
CHAPTER TWELVE:INFLATION
CHAPTER THIRTEEN:PUBLIC FINANCE AND FISCAL POLICY
CHAPTER FOURTEEN:THE ROLE OF INTERNATIONAL TRADE IN DEVELOPMENT.
Minor forms of market structures
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