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You are here: IGCSE Economics Individual as producer, consumer

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Individual as producer, consumer

Learning Outcomes

  • describe the functions of money and the need for exchange;
  • describe the functions of central banks, stock exchanges, commercial banks;
  • identify the factors affecting an individual’s choice of occupation (wage factors and non-wage factors);
  • describe likely changes in earnings over time for an individual;
  • describe the differences in earnings between different occupational groups (male/female; skilled/unskilled; private/public; agricultural/manufacturing/services);
  • describe trade unions and their role in an economy;
  • describe the benefits and disadvantages of specialisation for the individual;
  • analyse the different motives for spending, saving and borrowing;
  • discuss how and why different income groups have different expenditure patterns (spending, saving and borrowing).
  • Revision notes ( 19 Articles )
  • Interactive revision quizzes ( 9 Articles )

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