Mind map
Micro Economics
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Micro Economics
Economic problem
- Opportunity cost is the use of resources for one thing that cant be used for something else
- Factors of production
- Land - Rent
- Labour - Wages
- Capital - Intrest
- Enterprise - Profit
- PPB
- Product possibility Boundary
- PPB Graph
- At point x the resources are not being allocated efficently
- At point Y all resources are being allocated efficently and is showing productive effiecncy
- Product possibility Boundary
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- Description
- Mind Map on Micro Economics, created by Courtney Harding on 26/04/2014.
- Created by
- Courtney Harding
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- 29
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