Microeconomics - created from Mind Map

Scarcity Human wants. Unlim. Goods & Serv. Copper in US Means. Lim. Choice Prod. Of. G&S's Production How? Who? Opportunity cost incr. Prices also incr.

Dem & Supply Demand Supply Rel. 2 wants Increase income Increase quantity

F.O. prod. Land & raw mater. Labour Capital Nat. res. Hum. inp Finance

Opport. costs Benefit Prod. bett resul Alternative

C. O prod Fixed Variable Rent paid Costs Local auth Output Higher prod Higher Var. costs

Microeconomics