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Beschreibung
Mindmap von Daniella281, aktualisiert more than 1 year ago
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Erstellt von Daniella281
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Economics
Chapters 1.1-1.2
- 1.1 Economic problem
- Factors of production
- Capital
- Machinery
- Machinery
- Enterprise
- Ideas for business and taking risks
- Ideas for business and taking risks
- Labour
- workers - human capital
- workers - human capital
- Land
- All land including natural resources
- All land including natural resources
- Capital
- Resources are scarce but wants are infinite
- Resources are called factors of production
- Resources are called factors of production
- Key words
- Needs
- something essential to survive
- something essential to survive
- Wants
- something you would like to have
- something you would like to have
- Resources
- something to produce output
- something to produce output
- Productivity
- output per worker per period of time
- output per worker per period of time
- Needs
- Factors of production
- 1.2 Scarcity,choice and opportunity cost
- Allocation of resources
- Mixed economy (UK)
- Similar to market economy but the
government also allocates resources
for services e.g. education
- Similar to market economy but the
government also allocates resources
for services e.g. education
- Market economy
- Consumers decide what they want to buy
and firms use resources to supply it
- Consumers decide what they want to buy
and firms use resources to supply it
- Mixed economy (UK)
- Goods and services
- Good are tangible and can be used
- Services are provided for you - they are intangible
- Good are tangible and can be used
- Sectors
- Tertiary
- Service sector
- Banking,tourism
- Banking,tourism
- Service sector
- Secondary
- Raw materials
manufactured into goods
- Car manufacturing, furniture
manufacturing
- Car manufacturing, furniture
manufacturing
- Raw materials
manufactured into goods
- Primary
- Extraction of raw materiials
- Farming, mining
- Farming, mining
- Extraction of raw materiials
- Tertiary
- Allocation of resources
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