TOPIC 10: PRIVATIZATION ~ ECONOMICS FORM 5 PRIVATISATION It is the transfer of public sectors or enterprise to the private sectors. It is the selling of the government owned enterprises to the private sectors. Parastatal Organization. These are state owned enterprises established by an act of parliament to offer vital services to the public. The … Read more
TOPIC 9: EMPLOYMENT & UNEMPLOYMENT ~ ECONOMICS FORM 5 EMPLOYMENT & UNEMPLOYMENT Employment refer to the condition in which a resource (especially labour) is actively engaged in a productive activity usually in exchange for an explicit factor payment(such as wage or salary). Unemployment refers to the general condition in which resources are willing and able … Read more
TOPIC 8: POPULATION ~ ECONOMICS FORM 5 POPULATION Population refers to a group of people living in a particular geographical area at a specific period of time. Population size refers to the total number of people living in a certain geographical area at a specific period of time. As in 2002 population census, Tanzania has … Read more
TOPIC 7: TRADE CYCLE ~ ECONOMICS FORM 5 TRADE CYCLE Trade cycles can well be called Business cycles. It means the rise and fall in the level of economic activities in an economy over time. Trade cycle means ups and downs (fluctuations) in the level of economic activities in an economy. A trade cycle simply … Read more
TOPIC 6: THE THEORY OF MONEY ~ ECONOMICS FORM 5 THE THEORY OF MONEY Money refers to anything of value which is generally acceptable by the whole society to act as a medium exchange. Money is accepted not for its own sale but because others will accept it in exchange for goods and services. Therefore … Read more
TOPIC 4: MARKET ~ ECONOMICS FORM 5 Meaning of market Market refers to a situation where buyers and sellers are in close contact exchanging goods and services and the price of the commodity is being determined. Market can be a place or process. Determinants or Essentials of a market Presence of a commodity In a … Read more
TOPIC 3: THEORY OF DEMAND AND SUPPLY ~ ECONOMICS FORM 5 THEORY OF DEMAND Demand refers to quantity of the goods and services consumers are able and willing to purchase at the prevailing price in a given period of time. According to Bober “By demand we mean the various quantities of a given commodity or … Read more
TOPIC 2: PRODUCTION ~ ECONOMICS FORM 5 Production is the process of creating utility. In production there are four types of utilities which are form utility, time utility, place utility and possession utility. To the general public, production refers to the process of making goods either for sale or for direct consumption. e.g.cultivation of maize … Read more
TOPIC 1: THE SUBJECT MATTER OF ECONOMICS ~ ECONOMICS FORM 5 The subject matter tells us about what we study in Economics. However for the sake of conveniences, economics is concerned with the following: 1. It is concerned with how human being earns their living through exchange i.e. it is concerned with how man employs … Read more