JC Economics: What are the core principles of microeconomics?

 

Economics is one of the most applied subjects globally. Its use ranges from public sector projects to private sector businesses as well. The vast scope offered by economics is a convincing reason for you to take this course. An Econs tuition in Bukit Timah is oriented to teach you the intricate details of the subject. It will help you learn the concepts of microeconomics thoroughly. Let's look briefly into the different concepts that you'll be taught.

 

1. Demand and Supply

If you're a student of economics, demand and supply are the first concepts that you will learn. JC economics tuition in Singapore helps you to learn the different types of demand concepts like price, income, cross, joint, etc. Supply theories such as market, short-term, long-term, joint and composite, are also taught in-depth.

 

2. Elasticity

Elasticity defines the responsiveness of price to the demand or supply of a certain commodity. This theory is essential for you as it gives you an idea of how products react. The elasticity of a product defines the different market segments like luxury items, essential items, non-essential items, etc. An economics tuition offers good economics tutors who have the knowledge and a good understanding of elasticity. An economics tutor in Singapore will help you understand this concept in depth. The use of real-life product examples and application of the theories to current and developing products gives you an idea of implementing theory in practice.

 

3. Market structures

Market structures are practical definitions of how markets are arranged. For instance, In a market with a structure of perfect competition, products are almost identical (have little variety) and the prices are homogeneous. The best econs tuition in Singapore helps you in learning about different market structures like Oligopoly, monopoly, etc. These tuitions have specific subjects and course material that are tailored to help you understand better. They also make use of relevant real-life examples.

 

4. Resource Allocation by understanding price and profits

Resource allocation is an important part of any business. Microeconomics teaches you how to interpret the prices and profits of your company thoroughly. It helps you to determine the category and quantity of resources (like land, labor, capital, etc) that need to be used and applied for your business or project. JC economics by Anthony Fok covers this segment and uses real-life case studies to teach you. Anthony Fok uses the multitude of experiences that he has to guide you in understanding these concepts through applicability to current business and global policy-making contexts.

 

Why take Economics tuition?

The reasons for taking economics tuition are varied and depend upon the type of learner you are. Some of the most useful reasons are:

●       They offer specialized teaching of Economics only. It indicates that these tuitions are extremely detail-oriented and would help you in understanding the concepts well.

●       A JC economics tuition in Singapore offers exam-oriented training programs for the subject. This helps you to improve your grades significantly.

●       Experienced professionals with multiple publications and 10 years of experience at least are employed to teach you. Thus, if you are looking to enhance your knowledge, these tutors can help you the best.

●       Digital interactive classes are also held by these tuitions due to the low number of students per batch. This makes learning for you more personalized and entertaining.

 

If you are a student of economics or are seeking to join the course we recommend taking tuition. Tuitions are easily accessible in Bukit Timah and the best professionals guide you through the JC syllabus. Tuitions offer better query resolution processes as tutors can emphasize individual focus. If you are a student who's keen on gaining knowledge, an economics tuition is the perfect place for you to start today!