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ZIMSEC A-Level Economics

5.4Profits and losses

Profits and losses in ZIMSEC A-Level 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. 5.4.1Explain normal and abnormal profits, losses, cost minimisation and profit maximisation.

Lessons

  • Normal and supernormal profit and the shutdown decision

    40 min

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Sample question

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

Profits and losses: sample question

1 mark

A shop owner's accounts show a profit of US$18,000 a year. She could earn US$14,000 a year by working for someone else. Her economic (supernormal) profit is

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