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Ss 1 Economics Scheme of work

ECONOMICS

SS1 FIRST TERM

Meaning of economics
Definition of economics (at least five definitions)

Scope of economics (production, distribution and consumption)

Why do study economics?

Economics as a science, art or social subject
Career prospects of studying economics

Basic concepts of economics
Wants

Scarcity

Scale of preference

Choice

Opportunity cost

Importance of opportunity cost as related to:
Individual

Firm

Government

Either as a consumer or producer

Basic economic problems of society
The origin of economic problems

Problem of

What to produce?

How to produce?

For whom to produce?

Efficient use of resource. State examples of different economic system and how they solve their economic problems

Basic tools for economic analysis
Table

Graphs

Charts (simple, component and multiple bar chart)

Merits and demerits

Data collection and presentation
Formulation of frequency table (ungrouped data)

Measures of central tendency

Mean

Median

Mode

Merits and demerits

Theory of production
Meaning of production

Types (primary, secondary and tertiary)

Factor of production and their reward

Factors that determines volume of production

Land as a factor of production
Meaning

Characteristics

Uses (contribution)

Laws of diminishing return (illustrate with table and graph)

Labour as a factor of production
Meaning

Types

Characteristics

Efficiency of labour

Importance of labour

Revision
Examination
SECOND TERM

Revision
Production

Capital as a factor of production

Meaning

Types

Characteristics

Importance of capital

Entrepreneur as a factor of production

Meaning and function

Division of labour
Meaning/ origin

Advantages and disadvantages

Limitations

Specialisation

Meaning

Advantages and disadvantages

Scale of production (small, medium and large)
Meaning of scale of production

Characteristics of scale of production

(Internal and external economies of scale)

Internal and external economies

Firm and industry
Definition of firm, plant and industry

Factors that determine the size of a firm

Concept of total product (TP), marginal product (MP) and average product (AP)

With table and graphical illustrations

Business organisation
Meaning and types

Sole proprietorship and partnership

Their meaning

Characteristics

Source of fund

Advantages and disadvantages

Contributions to the economy

Joint stock companies
Private and public liability companies

Characteristics

Advantages and disadvantages

Contribution to the economy

Shares, bonds, debentures etc.

Cooperatives societies
Meaning

Features

Advantages and disadvantages

Public enterprises

Meaning

Features

Reasons for setting up

Merits

Demerits

Population
Definition

Determinants of population size

Population growth, (increasing population and ageing) declining population

Implication of size and growth of population

Population census
Definition

Types

Importance (uses)

Problems

Population structure or distribution (sex, age, geographical and occupational distribution)

Theories of population
Malthusian theory

Demographic transition theory

Population and economic development: under population optimum and over population

How to control population growth

Labour market
Definition

Concept of labour force

Factors affecting the size of labour force

Mobility of labour (meaning, types and importance)

Revision and examination
THIRD TERM

Revision of 2nd term unified examination
Distributive trade

Meaning

Channel of distribution

Process of distribution

Wholesalers (functions to producers and retailers)

Retailers (functions to wholesalers and consumers)

Middlemen
Argument for or against the elimination of middlemen

Problems of product distribution in Nigeria

Ways of improving the system of distribution of consumer goods in Nigeria

Roles of government agencies in product distribution

Money
Definition of money and its origin

Trade by barter system and its deficiencies

Types of money (including credit card, value card,

Sent from my Blog www.naijagoogleblogger.blogspot.com

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Ss 1 Economics Scheme of work

ECONOMICS

SS1 FIRST TERM

Meaning of economics
Definition of economics (at least five definitions)

Scope of economics (production, distribution and consumption)

Why do study economics?

Economics as a science, art or social subject
Career prospects of studying economics

Basic concepts of economics
Wants

Scarcity

Scale of preference

Choice

Opportunity cost

Importance of opportunity cost as related to:
Individual

Firm

Government

Either as a consumer or producer

Basic economic problems of society
The origin of economic problems

Problem of

What to produce?

How to produce?

For whom to produce?

Efficient use of resource. State examples of different economic system and how they solve their economic problems

Basic tools for economic analysis
Table

Graphs

Charts (simple, component and multiple bar chart)

Merits and demerits

Data collection and presentation
Formulation of frequency table (ungrouped data)

Measures of central tendency

Mean

Median

Mode

Merits and demerits

Theory of production
Meaning of production

Types (primary, secondary and tertiary)

Factor of production and their reward

Factors that determines volume of production

Land as a factor of production
Meaning

Characteristics

Uses (contribution)

Laws of diminishing return (illustrate with table and graph)

Labour as a factor of production
Meaning

Types

Characteristics

Efficiency of labour

Importance of labour

Revision
Examination
SECOND TERM

Revision
Production

Capital as a factor of production

Meaning

Types

Characteristics

Importance of capital

Entrepreneur as a factor of production

Meaning and function

Division of labour
Meaning/ origin

Advantages and disadvantages

Limitations

Specialisation

Meaning

Advantages and disadvantages

Scale of production (small, medium and large)
Meaning of scale of production

Characteristics of scale of production

(Internal and external economies of scale)

Internal and external economies

Firm and industry
Definition of firm, plant and industry

Factors that determine the size of a firm

Concept of total product (TP), marginal product (MP) and average product (AP)

With table and graphical illustrations

Business organisation
Meaning and types

Sole proprietorship and partnership

Their meaning

Characteristics

Source of fund

Advantages and disadvantages

Contributions to the economy

Joint stock companies
Private and public liability companies

Characteristics

Advantages and disadvantages

Contribution to the economy

Shares, bonds, debentures etc.

Cooperatives societies
Meaning

Features

Advantages and disadvantages

Public enterprises

Meaning

Features

Reasons for setting up

Merits

Demerits

Population
Definition

Determinants of population size

Population growth, (increasing population and ageing) declining population

Implication of size and growth of population

Population census
Definition

Types

Importance (uses)

Problems

Population structure or distribution (sex, age, geographical and occupational distribution)

Theories of population
Malthusian theory

Demographic transition theory

Population and economic development: under population optimum and over population

How to control population growth

Labour market
Definition

Concept of labour force

Factors affecting the size of labour force

Mobility of labour (meaning, types and importance)

Revision and examination
THIRD TERM

Revision of 2nd term unified examination
Distributive trade

Meaning

Channel of distribution

Process of distribution

Wholesalers (functions to producers and retailers)

Retailers (functions to wholesalers and consumers)

Middlemen
Argument for or against the elimination of middlemen

Problems of product distribution in Nigeria

Ways of improving the system of distribution of consumer goods in Nigeria

Roles of government agencies in product distribution

Money
Definition of money and its origin

Trade by barter system and its deficiencies

Types of money (including credit card, value card,

Sent from my Blog www.naijagoogleblogger.blogspot.com

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