Cost of Production
This lesson covers the concept of cost in economics, focusing on the cost of production. It explains different types of costs, such as fixed and variable costs, and discusses the factors of production that contribute to overall costs.
- 33:04 “This is all. You need to know in the rest of the world. Of course concepts. OK. So I'll be giving you an assignment in the rest of this topic. And I want to lay your hands on past questions. I mean SSC past question. Que...”
- 00:00 “Good students, standing before you here is Mr. Kenny and how we're taking you economics on a very interesting topic which I call cost concepts, cost concepts, okay? This is a very interesting topic that you need to learn...”
- 25:58 “okay, over changing quantity, anything marginal, the first line is always dash, you can see, here, for the first unit is dash, so you start from the second one, very easy, even without capital it or you can do this, just...”
Basic Economic Problems
This lesson covers the basic economic problems faced by society, including scarcity and resource allocation. It explains different economic systems such as capitalism, socialism, and mixed economy, and how they address these problems. The role of market forces in regulating the economy is also discu
- 00:00 “Hello, welcome to this lesson. My name is Cornelius and I will be taking you economics SS1. And the topic for today is basic economic problems of society. So in this lesson, we are going to be looking at what an economic...”
- 14:24 “one, absence of exploitation. Since the government controls everything from the center, it is believed that there is going to be room for exploitation, like we find in the capitalist system. Because in the capitalist sys...”
- 24:46 “efficient use of resources or efficiency of resource use. So, no matter the system that we're having, there's going to be production going on and production drives the economy. Production is like the foundation of the ec...”
Commercial Arithmetic: Profit and Loss
This lesson covers the concepts of profit and loss in commercial arithmetic. Students will learn to identify cost price and selling price, and how to calculate profit or loss these values. The lesson also includes calculating profit or loss in percentage.
- 00:00 “Hello, my name is Oyase. Sunday. I will be taking you mathematics JSS2 class. We're looking at an interesting topic for today. The topic is transaction in the home and offices. Transaction in the home and offices, we're...”
- 26:43 “A customer or a consumer buys how many? 24. And pays 3420. Calculate the normal price, parking. Now, it is paying. Going fully well, just look at it carefully. Looking at it, what do we have? The discounted price. We exp...”
- 21:15 “It will now be what my principal, initial amount invested. 60,000. Plus, what's my interest for the community period? 24,000. Where you add them up together, I will have it as what? 84,000. So, after five years, 60,000 r...”
Revenue Types
This lesson defines revenue and explains its three main types: total revenue, average revenue, and marginal revenue. It covers how to calculate each type and their relationships to production and sales.
- 03:31 “So, without wasting time, let's look at worth, illustration, and respect of worth of these beautiful topics. This question is taken from 1988 of your SSC past questions. And whether I like it or not, the question will al...”
- 16:19 “Here is 24, here is 24. What do we call that? Whenever your TR is equals to your TC, what do you call that? In economics, whenever TR is equal to TC, that is all called brick-even points. What happens at brick-even point...”
- 20:42 “So this is what you need to know in the rest of the world. This is where I'm going to stop my class. But before then, I need to give you an assignment in the rest of the world of that. So you go to the 1998 question in m...”