Learning objective

Understand the various objectives that firms may pursue, including survival, social welfare, profit maximization, and growth.

Read the explanation, check the common trap, then practise with flashcards and questions.

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Exam focus

Read the explanation.
Check key terms.
Practise with linked questions.

Cambridge IGCSE EconomicsSubject content

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Understand this objective

Quick explanation

Understand the various objectives that firms may pursue, including survival, social welfare, profit maximization, and growth

This point belongs to Firms’ costs, revenue and objectives, especially Firms’ costs, revenue and objectives outcomes.
You need to be able to understand the various objectives that firms may pursue, including survival, social welfare, profit maximization, and growth.
The key ideas to know are Identify and Describe.
Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.

Key concepts

IdentifyDescribe

Why it matters

This objective helps connect Firms’ costs, revenue and objectives outcomes to exam-style questions, flashcards, and revision notes for Firms’ costs, revenue and objectives.

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