1. ECONOMICS TUITION
Resources of

2. Demand, Supply and ElasticityConcepts
Market Failure
Theory of Costs and Market Structure
Theory of Income Determination
Economics Resources

4. Demand, Supply and Elasticity
Concepts
 1. Illustrating with
examples, explain price
elasticity of demand,
income elasticity of
demand and cross
elasticity of demand.
 2. Discuss how an
understanding of the
three elasticity concepts
be useful to the CEO, in
making price and output
decisions.
 3. Discuss whether
housing is a normal or
inferior good.
 4. Discuss the factors
affecting the demand for
laptops.

6. Market Failure
 1. Explain what are public
goods and consider
whether public housing is
an example of public good.
 2. Explain how smoking
may be viewed as a source
of market failure, and
evaluate the policy
measures that the
Singapore government
currently adopts to correct
the market failure caused
by smoking.
 3. Assess the policies the
Singapore government can
adopt to contain the
problem of rising
greenhouse gas emissions.
 4. Explain how the use of
plastic bags may lead to
market failure and discuss
whether indirect tax is
adequate and desirable in
solving the market failure.

8. Theory of Costs and Market
Structure
 1. Discuss whether
having large companies
in the pharmaceutical
market could be
beneficial to society.
 2. Identify the type of
market structure a
pharmaceutical company
operates in, and
distinguish the key
features with perfect
competition.
 3. Discuss the view that
more market power
leads to the exploitation
of consumers.
 4. Explain the likely
market structure that car
manufacturers are likely
to be operating in.

10. Theory of Income Determination
 1.What determines the
level of consumption in
an economy?
 2. Explain the factors
that are likely to cause
a slowdown in the
growth of consumer
spending.
 3. Explain the
conditions for
equilibrium in the
circular flow of national
income.
 4. Explain the key
determinants of
household savings.

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