Topic: Economics – Meaning and Basic Concepts
Instructional Objectives – By the end of the lesson, the students should be able to:
1 State Professor Robbins’ definition of Economics. (SSCE 2019 Q3a)
2 Explain the following concepts: (i) opportunity cost; (ii) scale of preference; (iii) production possibility curve. (SSCE 2019 Q3b)
3 Outline three reasons for the study of Economics as a Subject. (SSCE 2019 Q3c)
4 Distinguish between economic activities and an economic system. (SSCE 2012 Q6a)
Learn so well from SS2 Economics 2nd Term Online Classes.
5 Explain the following terms: (i) production; (ii) distribution; (iii) consumption. (SSCE 2012 Q6b)
6 Describe the importance of the scale of preference. (SSCE 2003 Q3a)
7 Explain the concept, opportunity cost. (SSCE 2003 Q3b)
8 State the opportunity cost in a given transaction or activity. (SSCE 2003 Q3c)
for Economics
| SS 1 | SS 2 | SS 3 |
| 1st 2nd 3rd | 1st 2nd 3rd | 1st 2nd 3rd |