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Adam Smith was a Scottish philosopher and economist who is best known as the author of An Inquiry into the Nature and Causes of the Wealth Of Nations, one of the most influential books ever written.

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David Ricardo was a classical economist who developed several key theories that remain influential in economics,  he was a successful investor and member of Parliament who took up writing about economics after retiring young on his fortunes, Ricardo is best known for his theories of comparative advantage, economic rents, and the labor theory of value.

He wrote his first article on economics, published in The Morning Chronicle, at the age of 37. The article advocated for the Bank of England to reduce its note-issuing activity. His 1815 book, "Principles of Political Economy and Taxation," contains his most well-known ideas. Ricardo's principal contributions to economic theory are described below.

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Adam Smith was an 18th-century Scottish economist, philosopher, and author who is considered the father of modern economics. Smith argued against mercantilism and was a major proponent of laissez-faire economic policies. In his first book, "The Theory of Moral Sentiments," Smith proposed the idea of an invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest. Smith is also known for creating the concept of gross domestic product (GDP) and for his theory of compensating wage differentials。According to this theory, dangerous or undesirable jobs tend to pay higher wages as a way of attracting workers to these positions

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In the aspect of economic policy, Smith is the advocate of economic liberalism. He wanted to establish a self-regulating social and economic order based on self-regulated individual freedom, so he advocated a "natural and simple system of freedom".  For example the market economic system.
Two main works
《The Theory of MoralSentiments》
《An Inquiry into the Nature and Causes of the Wealth of Nations》

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15/06/21

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15/06/21

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Cambridge International AS and A Level Economics

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15/06/21

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15/06/21

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Introduction to Micro and Macroeconomics _ Head Start in A-Level Economics

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15/06/21

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A Level Economics - Introduction To Economics

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15/06/21

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15/06/21

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15/06/21

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04/06/21

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03/06/21

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03/06/21

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01/6/21

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01/6/21

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Specimen paper              01/6/21

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Revision - practice paper 2
20/5/21

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Current account of Balance of Payments
20/5/21

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Topical MCQs - IGCSE Economics - 6.4 - Current Account of Balance of Payments (3)

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Current account of Balance of Payments

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Topical MCQs - IGCSE Economics - 6.4 - Current Account of Balance of Payments (2)

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Firms costs, revenues and objectives

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Topical MCQs - IGCSE Economics - 3.7 - Firms' Costs, Revenue and Objectives

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Firms costs, revenues and objectives

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Topical MCQs - IGCSE Economics - 3.7 - Firms' Costs, Revenue and Objectives

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Economic Growth

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Topical MCQs - IGCSE Economics - 4.6 - Economic Growth (1)

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Employment and Unemployment

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Topical MCQs - IGCSE Economics - 4.7 - Employment and Unemployment (1)

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Employment and Unemployment

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Topical MCQs - IGCSE Economics - 4.7 - Employment and Unemployment

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Economic Growth

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Topical MCQs - IGCSE Economics - 4.6 - Economic Growth

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Market Structure

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Topical MCQs - IGCSE Economics - 3.8 - Market Structure (1)

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Market Structure

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Topical MCQs - IGCSE Economics - 3.8 - Market Structure

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Paper 1 MCQ's  Mark Scheme            13/5/21

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Firms and Production

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Topical MCQs - IGCSE Economics - 3.6 - Firms and Production (1)

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Firms and Production

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Topical MCQs - IGCSE Economics - 3.6 - Firms and Production

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Firms                11/05/21

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Topical MCQs - IGCSE Economics - 3.5 - Firms (1)

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Firms            11/05/21

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Topical MCQs - IGCSE Economics - 3.5 - Firms

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Trade Unions           11/05/21

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Topical MCQs - IGCSE Economics - 3.4 - Trade Unions (1)

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Trade Unions           11/05/21

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Topical MCQs - IGCSE Economics - 3.4 - Trade Unions

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Inflation and Deflation       07/05/21

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Topical MCQs - IGCSE Economics - 4.8 - Inflation and Deflation (1)

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Inflation and Deflation       07/05/21

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Topical MCQs - IGCSE Economics - 4.8 - Inflation and Deflation

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Production possibility curve MCQs 27/4/21

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Topical MCQs - IGCSE Economics - 1.4 - Production Possibility Curve Diagams (PPC) (1)

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Opportunity Cost MCQs 27/4/21

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Topical MCQs - IGCSE Economics - 1.3 - Opportunity Cost (1)

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Factors of Production MCQs 27/4/21

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Topical MCQs - IGCSE Economics - 1.2 - Factors of Production (1)

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Mark Scheme                      Economic problems MCQs 27/4/21   

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Mark Scheme                      Economic problems MCQs 27/4/21   

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Topical MCQs - IGCSE Economics - 1.1 - The Nature of the Economic Problem (1)

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Production possibility curve MCQs 27/4/21

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Production possibility curve MCQs 27/4/21

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Topical MCQs - IGCSE Economics - 1.4 - Production Possibility Curve Diagams (PPC)

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Topical MCQs - IGCSE Economics - 1.2 - Factors of Production

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Topical MCQs - IGCSE Economics - 1.1 - The Nature of the Economic Problem

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Paper 1 Mark Scheme   19/4/21

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Paper 1 Mark Scheme   19/4/21

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Paper 1 Structured questions 19/4/21

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Mark Scheme

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Answers 6.4

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Topical MCQs - IGCSE Economics - 6.4 - Current Account of Balance of Payments (1)

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Answers 6.3

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Topical MCQs - IGCSE Economics - 6.3 - Foreign Exchange Rates (1)

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Topical MCQs - IGCSE Economics - 6.2 - Globalisation, Free Trade and Protection (1)

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Answers 6.1

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Answers 6.1

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Topical MCQs - IGCSE Economics - 6.3 - Foreign Exchange Rates

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Topical MCQs - IGCSE Economics - 6.4 - Current Account of Balance of Payments

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Topical MCQs - IGCSE Economics - 6.1 - International Specialisation

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Topical MCQs - IGCSE Economics - 6.2 - Globalisation, Free Trade and Protection

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1. floating exchange rate system(also causes and consequences )(Chapter 38)
2. Ch35 the differences between developed economy and developing economy.---Raymond

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Good evening,
Dear students,
Just wish to tell you all that, I miss you all and am fine. Hope to see you all soon.
Please remember, people will come and go in your life but, you have to carry on with the good work in life for yourself, your parents and last but not the least for your society, country and world.
Best wishes,
Rajeev.
All the best for your mock exams.

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Topical MCQs - IGCSE Economics - 5.2 - Poverty

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Topical MCQs - IGCSE Economics - 5.2 - Poverty

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Topical MCQs - IGCSE Economics - 5.2 - Poverty

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CHAPTER: 5 - Economic Development TOPIC: 5.4 - Differences in Economic Development Between Countries

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Topical MCQs - IGCSE Economics - 5.4 - Differences in Economic Development Between Countries

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CHAPTER: 5 - Economic Development TOPIC: 5.4 - Differences in Economic Development Between Countries

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Topical MCQs - IGCSE Economics - 5.4 - Differences in Economic Development Between Countries (1)

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GRADE 10 ECONOMICS  ECONOMIC DEVELOPMENT            02/02/21

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GRADE 10 ECONOMICS  ECONOMIC DEVELOPMENT            02/02/21

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Classwork and homework

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As discussed in class, please skim through chapter 24 to 35, identify topics you wish to revise and add below.
1. population age and gender distribution, the pyramid. (Aaron)
3. deflation- Raymond
4. relative poverty
5. patterns of employment, measuring unemployment, causes and types of unemployment, optimum population(graph explaining
6. effects of population distribution on economic agents.[consumers] Casey

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Frances Miya Jennifer Gladys
-Government expenditure on education/training - a workforce with better skills, productivity, flexibility and mobility - increasing GDP.
-Lower tax rate, eg.direct/expenditure taxes- more disposable income- higher living standards.
-Government expenditure on improving infrastructure, eg. Transportation,City network
-Progressive tax- helping redistribution of income - higher living standards per head
-Creating business-friendly environment.
-deregulation -reduction or removal of barriers to entry helps to make markets more competitive, encouraging lower prices and better-quality output.

Please mention the names of the group members.

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1. Supply side policy---- provide better healthcare to increase the living standard.

2. Fiscal policy---- reduce income tax to boost disposable wealth.

3. Poverty---- A. provide high accessibility of education (1. extend compulsory education 2. Produce more school).  B. produce more infrastructure. C. control the birth rate, because the amount of aging people and over population.

4. Investor communities

Control birth rate ( Only allow to have two children)
Spent more money to help rural region( education  healthcare...)

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1/ improve welfare
2/ improve the level of education and healthcare
3/ encourage environmentally friendly policy, like control the discharge of waste water and toxic gas from factory, using more reusable materials, adding environmental taxes on goods
4/ introducing minimun wage
5/ lower the interest rate and tax rate to increase the spending and investment and create more job
6/ improve the infrastructure
7/ using progression taxation
8/ introduce the law to protect female, like provide job opportunities for women
9/ giving training for the poor and create job opportunities for them.
10/ develop technological innovation by introduce higher level of education

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Lucy, Kay, Fleming, Fiona
1. Lower bank tax rate, attract foreign companies

2. Fertility policy (e.g., encourage childbirth and provide subsidies to families with second children)

3. Develop new industry

4. Invest more on education, health care (e.g., improve teacher’s level)

Please write more specific details. Please mention the names of the group members.

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1. lower the birth rate
2. improving education services.
3. improving infrastracture.

Please write more specific details. I did not see Xu participating in any activity.

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To develop a country, government can increase spending or lower taxation, which can allow more money flow into the economy. As government increase spending, the amount of welfare increase, thus, education and healthcare are better. As the level of education is higher, problem of discrimination can be alleviated. Sex education provided by school can help control the population. Education can also stimulate more idea about business setting, technology will also develop.  From the other side, if government lower the taxation,

Please mention the names of the group members.

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14/01/21