Economics Key Terms Cards

These cards were compiled to help with revision for the CAIE 0987 economics IGCSE, and follow the Susan Grant Cambridge IGCSE Economics Coursebook.

There are loads of misspelling etc. that I’m slowly working through (as ever, done in haste, where ‘good enough’ really is good enough), but given how soon the economics autumn exams were, just incase they are any use to anyone now, I’m putting them up as they are and will put the revised version up later.

Once we have gone through the entire course book, we use them by grouping the cards and putting them on a sheet of A1 in a configuration that makes sense to us – I always think of them like supermarket aisles, but you could equally do a mind map or similar. We then go through each card checking that my off-spring has fully understood each concept and discuss any blanks in knowledge.

By having the cards grouped, it helps them to visualise what concepts should always be thought of together, e.g. substitutes and complimentary goods when thinking about demand, or quality, quantity, price and choice when thinking about market competition.

We then go on to use them when marking past papers, helping them pick out which cards would be relevant for the answer and what they could have put in the answer to maximise marks.

My child is then left to try and memorise exact definitions for terms that come up in the 1 and 2 mark questions, e.g. what is a mixed economy?

To make:

  • Print out.
  • Cut through the middle along the shortest length (there should be five card names and their definitions/accompanying text on each half).
  • Fold each half in half again, along the longest length, so that the card names are all on one side and the accompanying text is on the back.
  • Stick the two sides together and cut so that each card is separate from the other four.
  • Laminate if you think they are going to get heavy use, or just use as is.

These are pictures of how we did the A1 sheets. Apologies for the poor photography and light, and for the fact you are going to have to enlarge them if you want to read the text.

If you are going to put them on big sheets, it is worth writing down the names of the cards in the places, so that after you have put it away you can just pop everything back when you need it.

There were so many cards for the second section, The Allocation of Resources, that we had to do it on two sheets of paper.

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