ZIMSEC O-Level Agriculture
5.6.2Principles of economics
Principles of economics in ZIMSEC O-Level Agriculture: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic58 practice questions3 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 5.6.2.1Form 3: explain the opportunities available to the farmer, the factors influencing farmers' choices and the concept of opportunity cost.
- 5.6.2.2Form 3: describe the laws of demand and supply, interpret demand and supply schedules and curves and describe the determinants of market price for agricultural commodities.
- 5.6.2.3Form 4: explain and interpret the law of diminishing returns and describe its implications in agriculture.
- 5.6.2.4Form 4: distinguish risk from uncertainty, outline the risks in agriculture and explain ways of minimising their effects.
- 5.6.2.5Form 4: explain the importance of decision making, outline the economic factors influencing it and the steps in making a farm decision.
Lessons
- Full access
Farm choices, opportunity cost, demand, supply and price
40 min
- Full access
Risk, uncertainty and making farm decisions
35 min
- Full access
The law of diminishing returns in farming
40 min
Join to read every lesson, or see what Full access includes.
Sample question
A sample question on this topic. Answer it, check it, then read the worked answer.
Turn Principles of economics into a strength.
Practise with instant marking, see your mastery grow and get a study plan built around your exam date.