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Cambridge IGCSE Economics

3.4.1Different types of firms

Different types of firms in Cambridge IGCSE Economics: what the syllabus expects you to know, the learning objectives and how to practise.
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Learning objectives

What the syllabus expects you to be able to do.

  1. 3.4.1Classify firms as primary, secondary or tertiary and private or public sector, and explain the advantages and disadvantages of small and large firms.

Lessons

  • Private and public sector firms and public corporations

    30 min

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  • Stages of production and value addition

    25 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

Different types of firms: sample question

1 mark

A fictional state-owned electricity distributor has revenue of US$7.4 million and costs of US$9.1 million in a year. The government covers any loss. Calculate the loss, in US$ million, to one decimal place.

Only if the answer has a unit, e.g. cm or km/h.

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