10 cp Prerequisites Nil Teaching Organisation 3 hours per week for twelve weeks or equivalent.
Economics analyses the decisions made by individuals and society about resource use. This is an interesting and important study because of the problem of scarcity. Economics is about the choices made, alternatives foregone and consequences of decisions that are made by individuals, households, firms and governments in their quests to seek what they individually or communally regard will yield them maximum satisfaction. This subject will address current economic problems and issues facing the consumer and the firm in the micro-economy. These include resource allocation, the functioning of the market, competition, price and production decisions of the firm, elasticity and the role of the government in the market.