Economics

This subject provides students with a foundational understanding of economic principles related to labor, markets, pricing, and industries. It begins with an exploration of the labour market, covering employment, wage determination, and factors affecting labor supply and demand. Students will then study the concept of utility, learning how consumers make choices based on satisfaction derived from goods and services. The course continues with the concept of demand and supply, focusing on how price and quantity are determined in the market.

Further topics include price control and legislation, examining government intervention in pricing to regulate markets. Market structures will be analyzed, covering perfect competition, monopoly, and other forms of market organization. Students will also explore industrial concepts, including factors affecting production and localization of industries, which focuses on why industries are concentrated in specific areas. The course concludes with a study of agriculture, emphasizing its role in economic development and food production. This subject equips students with essential economic knowledge applicable in real-world business and policy-making.