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The marketing mix guides marketing work, meets customer needs, builds competitiveness, optimizes resources and increases profits.

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Market mix is ​​important because it helps businesses effectively target their products to the desired market, meet customer needs, enhance competitiveness, and maximize profits.

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1. Helps the business satisfy customer needs by offering the right product with suitable features and quality.

2. Helps attract customers through suitable pricing and promotion, such as discounts and advertisements.

3. Increases sales and profit while also helping to build a strong brand image.

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1. Helps meet customer needs
Businesses can design products and services that customers actually want. This increases customer satisfaction and loyalty.

2. Improves sales and profit
By choosing the right price, promotion methods, and selling locations, businesses can attract more customers and increase revenue.

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Starter: Why marketing mix is important to business?

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I like economics because it is interesting and fun to learn. There are many fun graphs to learn! I also like economics because ms dalila is the teacher. She explains well and makes it a fun subject to learn, yay

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1) Choose and complete any 2 live activities worksheet.

2) Feedback: Write 1 paragraph why do you like to study Economics and click save/publish (less than 200 words).

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Amaze your students with smarter worksheets. Wizer.me is a platform where teachers build beautiful, engaging online worksheets.

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Wordwall - Create better lessons quicker

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Which of the following items is merit or demerits goods? Click the items to match with the correct category. them.

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Group sort - Drag and drop each item into its correct group.

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http://fdslive.oup.com/www.oup.com/oxed/international/online-content/complete-economics-cambridge-igcse/1_The_basic_economic_problem/index.html?region=international

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I learn about basic economy problem how best to allocate scare resources in order to order satisty people's unlimited needs and wants.

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Yesterday I’ve learn about the factor of production, differences about goods and wants and also the 3 basic economic problem which is
How to make?
For whom?
What to make?

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1.Basic economis problems, factors of production, economic goods and free goods

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Factors of Production:land,capital,labour and enterprise
Differences between Economic Goods and Free Goods
Consumption and Production

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I learnt that the factors of production are land, capital, labour and enterprise. land which are natural resources, capital is the man made resources, labour which are human skills and efforts, enterprise are the business know hows

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Yesterday i had learned the basic economic problem and i also learned how to explain the 4 factors production and i had learned what does goods and services means in economic and my teacher told us the three  questions that will come out in IGCSE

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Economic goods: limited in supply
Free goods: unlimited in supply

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Factors of production:
Natural resources = land
Man-made resources = capital
Human skills and effort = labour
Business know-how = enterprise

Who are decision makers?
1. Individuals (households)
2. Firms
3. Government

Three basic economic questions:
1. What to produce?
2. How to produce?
3. From whom to produce?

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Economic goods are those which are limited in supply while free goods are those which are unlimited in supply.

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Factor of Production
- Land
-capital
-labour
-enterprise

Economic Agent consists
- Individual (households)
-Firm
-Government

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Yesterday, I had learned about unlimited want but limited product in economics

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Yesterday I have learned about the 4 factors of production: land, capital, labour, and enterprise. Land is a natural resources, capital is thr man-made resources, labour is the human skills and effort, and enterprise is business know-how.

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Goods are what people desire that is not essential for survival. Wants are what people essentially need for survival

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Yesterday I had learned about the 4 factors of production; land, labor, capital and enterprise. I had also learned about the nature of the economic problem which refers to: individual consumer, individual worker, firm and government.

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Needs ...example

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Chap 1: Watch this videos and answer the following questions.

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Chap 1: Watch this videos and answer the following questions.

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1) Using examples, differentiate between needs and wants (6 marks)
2) List and explain four factors of production. (8 marks)
2)

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IGCSE Economics 0455-Unit1Part1 The basic economic problem, need vs wants, and factors of production

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Hi Year 10, Welcome to Ms Dalila Economics Padlet Online Class. Feel free to add your box here. What have you learn in today's lesson? #Day1 #BasicEconomicsProblem.

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Hi Year 10, Welcome to Ms Dalila Economics Padlet Online Class. Feel free to add your box here. What have you learn in today's lesson? #Day1 #BasicEconomicsProblem.

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1) Using the video provided, write definition of demand that you understand using your own words in 2 minutes.

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1. Occupational mobility is when labour are able to move between jobs (example: wanting to stay nearer to your family). Geographical mobility is when labour is willing and is able to different places for work reasons for example like a person leaving his current job to work in another profession.

2. Use more machines in factories. In order to to increase the pace of production. Which means its faster production in lesser time.

Government should increase taxes in order for the country to get more money in order to help the people in need.

Changes in cost so that when the cost of resource reduce and the company sells them for a higher price, the percentage for profit will increase more.

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1) Occupational  mobility is whether a labour is able to move between jobs,such as a math teacher change to a ICT teacher. Geographical mobility is whether a labour is able to move to different location for employment purposes such as a teacher move from Malaysia to Singapore.

2) Technology - the more advanced technology there is, the more goods or service is able to be produced
Skilled labour - the more skilled worker in  a company, the better production
Improvement in education - if there is better education system in a country, there will be more skilled workers

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1.Geographical mobility means how far a labourer or resources is willing or can move to different locations for working purpose or for family.
Occupational mobility means how far can a labourer change from an occupation to another depending on how skilled or trained they are.
2. Improvement in education- this increases the quality and quantity by having more educated people so there will be more people who have important jobs like doctors, it increases the quality by having more people who knows what they are doing like doctors who prescribe medicine to patients.
Taxes-lower taxes can  boost an increase in the quantity of labour production.
New technologies- this can improve the quantity by making the products produced in a machine so they would be produced more faster.

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Q1)Geographical mobility
Is the extent to which labour is willing and able to move to different locations for job purposes whereasOccupational mobility Is the extent to which labour is willing to move for their jobs

Q2)
-Advances in healthcare can influence the quality and quantity of production by making sure that there’s job security when it comes to health insurance.This ensures that workers are not sick and can come to work everyday
- Advances in,technology can influence the quality and quantity of production by making the production process a lot more efficient.the production of items can be done in a shorter amount of time while improving the quality of an item.Thus this increases the amount of output and increases sales
-Advances in government policies can influence the quality and quantity of production by supporting smaller companies by allowing them to pay less taxes until they reach.a certain sales quota.this allows the companies to focus on developing their products.

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1) Geographic mobility is the willingness and ability of a person to travel to another area for occupational reasons. An example is going to another place for a better job or you are unable too because you want to stay with your family. Occupational mobility is when person is able to change between different jobs easily. An example is a science teacher can either teach or can be scientist, some people are not able to change jobs easily because of skill and training.

2) New technology can increase the quantity in output because machines can produce faster and
Can also increase the quality of products. Net migration increase the quantity of labour because there is more people. Weather can effect the production of things like agriculture because good weather will improve the environment for farming which can increase output and the quality of products.

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1) geographical mobility - this is when individuals move to certain locations for certain jobs even when it’s far away (eg someone from Malaysia goes to the UK for a job with better pay)

Occupational mobility - this is when you stay in an area and search for new jobs (eg someone from Malaysia finds a job around them)

2)

1. changes in the costs of factors of production (eg higher labour costs caused by an increase in the national minimum wage would tend to reduce the demand for labour)

2. Improvements in education and healthcare will improve the quality of labour as workers become more valuable to firms. This helps to boost production

3. New technologies allow firms to produce more output. Higher productivity also enables firms to cut their average costs of production

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1) Geographical mobility refers to the willingness and ability of a person to relocate from an area to another for employment purposes. Occupational mobility refers to the ease of moving from one job to another wether because of the salary or other reasons.

2)
a. changes in the costs of factors of production, higher labour costs caused by an increase in the national minimum wage would tend to reduce the demand for labour.

b. government policies, through the use of taxes and subsidies.

c. New technologies, higher productivity enables firms to cut their average production cost.

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Example of social cost

1:Smoking
(Health costs to society)
2:Alcohol
(Health cost)
3:Greenhouse gases
(Petrol cost)

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1) Occupational mobility refers to the extent which labours are able to and willing to change jobs like from a office worker to a barber, while geographical mobility refers to the extent which a labour or enterprise is able to move to other locations for different purposes and uses like lorry that was used to transport products and it can be used to transport people as well

2) Equipment- with bad equipment the productivity is low and quality is bad compared to good equipment that is able to produce large quantity with high quality

Changes in costs- when the costs of resources increases the company will have to buy and use low quality resources

Government- increasing the taxes

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Please write your name and answer the question.
1) Differentiate geographical mobility and occupational mobility (4marks)
2) Identify and explain 3 causes and changes for increase in quality and quantity of factor of production (6 marks)

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list 3 examples of social cost
-taking alcohol when driving could be harmful to person who drank and also traffic congestion as when accident occur.

-smoking is not only cost the people who buying cigarettes meanwhile also bring negative side effect to other around them as the air is polluted which could be harmful
-absence of vaccination
without getting vaccinated , the possibility of getting disease tend to be higher which could be a health problem , firm's efficiency could be affected due to higher absenteeism.

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Smoking:
-Bad for your life
- Can reduce your life span
-Damage the organs in the body

Drugs:
- Can go crazy
- Get addicted

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Drive to work : Costs of paying for petrol

Smoking: Air pollution and risks

Buliding airports: Cost of constructing an airport.

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1)smoking is bad for health and cause air pollution
2)phone cause addiction and might cause accident when playing phone and drive at the same time
3)drug cause addiction and increase crime rate

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Smoking
- air pollution
- bad for your health
Buying car
- air pollution, produce greenhouse gases
- petrol costs
Alcohol
-

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1) Smoking - lead to air pollution and unhealthy lifestyle

2) Littering - pollution to the atmosphere,water and the land

3) Driving car - causing noise pollution and air pollution .

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Smoking
Pollution
Health costs
Littering

Cars
Petrol
Maintenance costs
Pollution

Alcohol
Addictive
littering
Health costs

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1.) Air pollution created by the factories and it harms people because of the toxicity of gas.
2.) Smoking cigarette harms the people that are using it but the people passing by are also breathing in the smoke you smoked out.
3.) Alcohol make you drunk and when u drive while you are drunk u get into accident and you are causing problems for the doctors to cure your injuries when they can cure for other patient example cancer.

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Buying phone:
- need money
- not good to eyes
- cause addiction
- radiation
Buying car:
- pay for petrol
- pay for congestion charge
- air and noise pollution
Smoking:
- lungs cancer
- addiction

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Starter: List 3 examples of social cost

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A maximum price occurs when the government sets a price below the market equilibrium price, Like when people are demanding for the price of patrol to be lower
A minimum price occurs when the government sets a price above the market equilibrium, when the sales of fruits increase in the country

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Price ceilings are the maximum price set by government and it is below the equilibrium price, it can lead to shortage and would not benefit the consumers.

Price floor is the minimum price set by government and it is above the equilibrium price, it can lead to surplus.

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Price ceiling is the maximum price of a good or a service that is given by the government
which is usually below the market equilibrium. Usually to attract more buyers but causes a shortage.
Price floor is the minimum price of a good or service that is given by the government which is usually above the market equilibrium. Usually to attract more suppliers but causes a surplus.

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price ceiling is maximum price that is set by government which is below market equilibrium price to encourage consumption.There would be more demand as most of the people are willing to spend at a lower price which is likely to cause shortage as lesser firms willing to supply at a lower price .

price floor is minimum price that is set by government which is above market equilibrium price to encourage more supply such as agricultural product which is price inelastic of supply , as most of the firms might not willing to supply which government have to increase the price to attract more suppliers

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Price ceiling is known as maximum price. Maximum price is when we reduce the price of a product to make it more affordable but it can lead to lesser supply thus making a shortage.

However, price floor is known as minimum price where the prince can increase  to help the workers.

.

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Price ceiling is the maximum price, which means the reduce the maximum price of goods and services that can be sold. Price floor is the minimum price, which means the increase in the price of workers

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Price ceiling occurs when the government sets a price below the market equilibrium price so that it encourages consumption of the good or service. Examples include : (train tickets) so people are able to buy them to visit their family during the holidays.

Price floor occurs when the government sets a price above the market equilibrium price to help encourage the output for the good or service.examples include : minimum wages for occupations

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Price ceiling is when government set a maximum price on some necessity goods, this causes shortage in the market; Price floor is when government set a minimum wages for certain occupation, this causes excess in supply.

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A price ceiling is the legal amount a producer can charge for their goods and/or services. Whereas a price floor is the minimum amount consumers must pay for a good and/or service.

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What are differences between price ceiling and price floor?

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Price Ceilings and Floors- Micro Topic 2.8

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A mixed economy is a mix of a market economy and a planned economy, which means there are free markets that rely on the forces of demand and supply which are owned by private sectors, as well as markets owned by public sectors such as the government.

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Mixed economic is the combine of planned economic and market economic and controlled by public sectors and private sectors

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Mixed Economic System is a combination of both the planned and the market ecnomy.The degree of public and private sector involvement in economic activity id determined by the goverment

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What is mixed economies?
Mixed economies is the combination of planned economy and market economy where the resources are owned and controlled by both public and private sector

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this economic system is a combination of planned and market economic system with some resources being owned and controlled by the government and some other by private individual.

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A mixed economy is an economic system that incorporates aspects of more than one economic system. This usually means an economy that contains both private sectors and public sectors, it is also a combination of market economy and planned economy.

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A mixed economy is an economy that has government controlled markets and private markets. which has aspects from both a planned and market economy

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a mixed economy is a combination of a market economy and a planned economy. some of the resources are owned and controlled by individuals and firms while some resources are owned by the government. Examples are Japan and Spain

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mixed economy system
combination of planned economy and market economy which some of the resources are owned and controlled by government in public sector while the other resources are owned and controlled by firms and individuals in private sector

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Mixed economic is the combination of planned economic and market economic. It is controlled by both public sectors and private sectors

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What is mixed economies? (4 marks)

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Yes, market system is efficient because in a market economy system, consumers have the freedom to choose whatever products they want as there is no government intervention. The firms would also pay attention on customer's demands and produce them out to increase the competitiveness in the market, this make the market more efficient

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Yes it's efficient because there's little government control in the economy. Since it's a free market multiple firms can produce similar products giving consumers more options.

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I think market system is efficient because in a market economy, with little government intervention, private ownership can make all business decisions based on market factors. As a result, this economy makes economic activity efficient, productivity, and innovation.

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I think the market system is efficient in the use and allocation of resources. People also have the freedom to choose since there are many choices.

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I think that the market system is efficient because there is no government disturbance . When the sellers are able to set the prices for their good,they will most likely set it to a price of their liking that will benefit them so this will make sellers work harder to produce goods for customers. Without any government disturbance people are also allowed to purchase anything they want that will benefit the people of the economy

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Yes, Because it doesn't really help anyone in anyway in the market because many people has different demands and mostly supplies are limited in the market so that the customers can be efficient what they wish to buy by their wealth or well being desire

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yes market system is efficient as quality of product are secured.Consumer tend to get higher quality of product that deserve the price as competition between firms help to create incentives for them as all of them wish to attract more attention from the customer to gain higher sales revenue therefore earning profit.Besides , consumer have opportunity to pursue their own career too which can motivate them to work hard which can ensue the efficiency of single firm.However, social hardship could occur as most of the firms are not willing to provide national defence and street lights as the aim of firm in private sector is to earn profit, providing national defence and street lights could not benefit them

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Yes market system is efficient because when a firm make profit it motivates the worker to work more and to earn more profit thus improving the economic growth. Also, they will mainly focus on what the customer and want to improve their product to satisfy customer desire.

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Yes, I think market system is efficient. This is because it is not under the control of government so people got freedom of choices to purchase the goods and services they wanted. Market system also create incentives for firms and workers as the main motive is profit so they work hard to earn unlimited wealth.

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Starter 22/03/2022
I think the market system is efficient for buyers and sellers to get what they want because sellers will produce products that are highly demanded and buyers will be able to have many choices of products to choose from due to competition between sellers

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Do you think market system is efficient? Explain your reason.

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Define demand: Demand is ability and willingness consumer to buy goods or services given prices
demand down sloping because when the price of commodity increases, its demand decreases

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Demand is the willingness and ability of a person to buy a certain product. Demand is always downward sloping because the price of the product are inversely proportional to the quantity demanded on the product. When the price is higher, the quantity demanded of the product would be lower.

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Demand is the willingness and ability of a person to buy a certain product. Demand is always downward sloping because the price of the product are inversely proportional to the quantity demanded on the product. When the price is higher, the quantity demanded of the product would be lower.

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Starter 3/3/2022
Demand is the ability and the willingness of customers to buy a good or a service at a given price.
The reason the demand curve is downward slopping is due to the law of demand stating that the price is inversely proportional with the demand, meaning that when the price increases, the demand decrease, etc.

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Starter 3 March 2022: Define demand and why demand downward sloping.

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Starter 3 March 2022: Define demand and why demand downward sloping.

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What to produce
How to produce
For whom to produce

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What to produce
How to produce it
For whom to produce

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1)PES = % Change in QS / % Change in Price).

2)PES  is a measure  the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price or cost

3)Number of producer

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1) percentage change of quantity supplied/percentage change in price

2)PES measures the degree of responsiveness of the quantity supplied of a good which is being followed by a change in the price for he good

3) the time period

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1) %of supply change/%of price change
2) price elasticity of supply is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price.
3) Number of producers

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1. Write formula of PES (2)

2. What is definition of PES (2)

3. Write 1 determinants of PES (1)

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Walk in activity: Write 3 economics question.

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Walk in activity: Write 3 economics question.

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What's price elasticity?
-measures the extent to which demand for a product changes caused by a change in its price.

What's the difference between price elastic and price inelastic?
Price elastic
occurs when demand for a product is responsive to changes in price(there's substitute)
Price inelastic
occurs when demand for a product is unresponsive to changes in price (lack of substitute)

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A good's price elasticity of demand is a measure of how sensitive the quantity demanded is to its price.

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Differentiate between Price elastic and price inelastic.

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1)Land- Natural resources required in the production process such as oil, coal, and water
Capital- Manufactured resources required in the production process such as machinery, tools, and vehicles
Labour- Human resources required in the production process including skilled and unskilled labour
Enterprise- Skills a business person requires to combine

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1)
land: natural resources
labor: human resources
capital :machinery
entrepreneurship: business

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1) List four factors of production and explain.
Land: The physical land where the business is located and also the natural resources that a business might need.
Labour: The staff needed by the business and the skills and qualifications they have.
Capital: The machinery and equipment needed by the business to make the products or provide the service.
Enterprise: The entrepreneur who takes a risk and creates the business using the other three factors of production.

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Land - natural resources
Capital - the machine that produce goods
Labour - workers
Enterprise - the ability of a person to bring the factors of production together

2)profits