Podcast
Questions and Answers
The Ethiopian government has implemented many agricultural policies, such as market liberalization. This is done to encourage an accelerated sustainable development to eradicate poverty.
The Ethiopian government has implemented many agricultural policies, such as market liberalization. This is done to encourage an accelerated sustainable development to eradicate poverty.
True (A)
Which of these are examples of the four economic agents? (Select all that apply)
Which of these are examples of the four economic agents? (Select all that apply)
- Entrepreneurs (correct)
- Business firms (correct)
- Government (correct)
- Consumers (correct)
- The United Nations
- Teachers
What is the most important goal of the consumer?
What is the most important goal of the consumer?
- To minimize their satisfaction
- To maximize their satisfaction (correct)
- To minimize their profit
- To use only one good at a time
The ______ of a budget line is the negative of the price ratios of the two goods.
The ______ of a budget line is the negative of the price ratios of the two goods.
What is the primary determinant of consumption?
What is the primary determinant of consumption?
What is MPC?
What is MPC?
The total utility of the consumer (U) depends on the quantities of the commodities ______.
The total utility of the consumer (U) depends on the quantities of the commodities ______.
What are the two primary factors that will cause a shift in the budget line and cause a change in equilibrium?
What are the two primary factors that will cause a shift in the budget line and cause a change in equilibrium?
According to the accelerator theory of investment, a change in demand for goods and services will not trigger a rise in demand for investment.
According to the accelerator theory of investment, a change in demand for goods and services will not trigger a rise in demand for investment.
A perfect competitor is a 'price-maker', while a monopolist is a 'price-taker
A perfect competitor is a 'price-maker', while a monopolist is a 'price-taker
Which of the following is NOT a valid characteristic of an oligopoly?
Which of the following is NOT a valid characteristic of an oligopoly?
What is the difference between gross investment and net investment?
What is the difference between gross investment and net investment?
Trade balance refers to the balance in the trading of merchandise by excluding trade in services.
Trade balance refers to the balance in the trading of merchandise by excluding trade in services.
Why do countries engage in international trade?
Why do countries engage in international trade?
According to the theory of comparative advantage, international trade could take place between two countries if each country has an absolute advantage in the production of one good, but this is NOT possible if one country has an absolute advantage in the production of both goods.
According to the theory of comparative advantage, international trade could take place between two countries if each country has an absolute advantage in the production of one good, but this is NOT possible if one country has an absolute advantage in the production of both goods.
What are the main components of the human development index?
What are the main components of the human development index?
The MDGs are not a unified focus in the development community.
The MDGs are not a unified focus in the development community.
The Sustainable Development Goals (SDGs) are not as ambitious as the MDGs.
The Sustainable Development Goals (SDGs) are not as ambitious as the MDGs.
Ethiopia has formulated a robust and comprehensive strategy for achieving the MDGs and SDGs.
Ethiopia has formulated a robust and comprehensive strategy for achieving the MDGs and SDGs.
The strategy adopted by the Ethiopian government after the Ethiopian People's Revolutionary Democratic Front (EPRDF) took power is to push for a large industrialization at the expense of smallholder agriculture.
The strategy adopted by the Ethiopian government after the Ethiopian People's Revolutionary Democratic Front (EPRDF) took power is to push for a large industrialization at the expense of smallholder agriculture.
Which of these are considered to be problems in the education sector? (Select all that apply)
Which of these are considered to be problems in the education sector? (Select all that apply)
The health sector is not decentralized in Ethiopia.
The health sector is not decentralized in Ethiopia.
Which of these are strategies to improve the health care services? (Select all that apply)
Which of these are strategies to improve the health care services? (Select all that apply)
What is the main focus of the post-1991 industrial strategy? (Select all that apply)
What is the main focus of the post-1991 industrial strategy? (Select all that apply)
Which of the following can we do to help improve the agricultural sector in Ethiopia? (Select all that apply)
Which of the following can we do to help improve the agricultural sector in Ethiopia? (Select all that apply)
The tourism sector has made significant progress in recent years towards its potential.
The tourism sector has made significant progress in recent years towards its potential.
One of the primary reasons for the failures of the Derg Regime (1974-1991) was the government’s intervention in the agricultural sector.
One of the primary reasons for the failures of the Derg Regime (1974-1991) was the government’s intervention in the agricultural sector.
The Ethiopian government has effectively addressed income inequality, and this is one of the main factors behind the country's economic success.
The Ethiopian government has effectively addressed income inequality, and this is one of the main factors behind the country's economic success.
Flashcards
Consumer Optimum
Consumer Optimum
The point where a consumer maximizes utility given their budget constraint.
Utility
Utility
The satisfaction or happiness a consumer gets from consuming goods or services.
Indifference Curve (IC)
Indifference Curve (IC)
A curve showing various combinations of two goods that give the consumer the same level of satisfaction.
Indifference Map
Indifference Map
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Budget Line
Budget Line
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Marginal Rate of Substitution (MRS)
Marginal Rate of Substitution (MRS)
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Cardinal Utility
Cardinal Utility
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Ordinal Utility
Ordinal Utility
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Marginal Utility (MU)
Marginal Utility (MU)
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Diminishing Marginal Utility
Diminishing Marginal Utility
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Perfect substitute goods
Perfect substitute goods
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Perfect complement goods
Perfect complement goods
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Income consumption curve (ICC)
Income consumption curve (ICC)
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Price consumption curve (PCC)
Price consumption curve (PCC)
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Demand Curve
Demand Curve
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Feasible area
Feasible area
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Unattainable area
Unattainable area
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Preference
Preference
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Study Notes
Economics Student Textbook (Grade 11)
- Textbook is property of the school
- Take good care not to damage or lose it
- Cover the book
- Keep the book clean and dry
- Clean hands before using it
- Do not write on cover or inside pages
- Use paper or cardboard as bookmark
- Do not tear or cut out any pictures or pages
- Repair any torn pages with paste or tape
- Pack the book carefully when putting in bag
- Handle the book with care when passing to others
- Lay new books on their back when first used
- Open only a few pages at a time and lay on the bound edge
- This helps maintain the book's condition
Economics Textbook (Grade 11) - Writers, Editors, and Evaluators
- Writers: Guta Legesse Tessema (PhD) and Dereje Fekadu Deressa (MSc)
- Editors: Chanyalew Degefa Merga (MA), Curriculum Editor; Degela Ergano Done (PhD), Content Editor; and Taye Gebremariam Olamo (PhD), Language Editor
- Illustrator: Tadele Bayu Genet (MSc)
- Book Designer: Amsalu Dinote Kuye (MSc)
- Evaluators: Mekonnen Bersisa Gadisa (PhD), Tariku Mulushewa Dessea (MSc), and Ararsa Hora Dabi (MSc)
Economics Textbook (Grade 11) - Publication Information
- First published in August 2023
- Published by the Federal Democratic Republic of Ethiopia, Ministry of Education
- Supported by the World Bank, UK's Department for International Development/DFID (now merged with the Foreign, Commonwealth & Development Office/FCDO),
- Finland Ministry for Foreign Affairs, the Royal Norwegian Embassy, UNICEF, the Global Partnership for Education (GPE), and Danish Ministry of Foreign Affairs, through a Multi Donor Trust Fund.
- Copyright 2023 by the Federal Democratic Republic of Ethiopia, Ministry of Education. All rights reserved.
- Printed by Gravity Group Ind LLC, Sharjah, United Arab Emirates
- ISBN: 978-99990-0-058-1
Economics Textbook (Grade 11) - Table of Contents
- Unit 1: Theory of Consumer Behavior and Demand
- Introduction to Utility, Indifference Curves, Budget Line
- Unit 2: Market Structure and the Decision of Firms
- Review of Market Structures; Perfect Competition, Imperfect Competition, Monopoly, Monopolistic Competition
- Unit 3: National Income Accounting
- Nature of National Income Account and its Importance, Concept of GDP and GNP, Approaches to Measuring National Income, Circular Flow of Income, Problems with GDP Measurement
- Unit 4: Consumption, Saving, and Investment
- Introduction, Consumption Function, Saving Function, Relationship between Saving and Consumption, Investment
- Unit 5: Trade and Finance
- Introduction, Overview of Domestic Trade, Basic Theories of International Trade, Balance of Payment Components, Trade Policies and Strategies
- Unit 6: Economic Development
- Introduction to Economic Growth and Economic Development, Measures of Productivity, Measuring Human Development Index, Capability Approach, Sustainable Development, Millennium Development Goals(MDGs)
- Unit 7: Main Sectors, Sectorial Policies, and Strategies of Ethiopia
- Overview of Agricultural Policies, Specific Policies and Strategies of the Agricultural Sector, Overview of Industrial Policies, Specific Policies and Strategies of the Industrial Sector, Overview of Service Policies and Strategies
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