Mapa mental
Macroeconomics
Mind map: Macroeconomics
Contenido del mapa
Macroeconomics
Basic economic problem
- Scarcity problem
- lack of resources available
- A
- Absolute scarcity (factors of production)
- Human resources (labour)
- Natural resources (land)
- Human-0made resources (capital)
- Entrepreneurial talents (entrepreneurship)
- Relative scarcity
- Scarcity and poverty
- Absolute scarcity (factors of production)
- B
- Economic goods
- are scarce, they have utility (satisfy wants) and value (can be brought and sold) they are part of someones wealth, they belong to someone.
- Free goods
- are so plentiful nobody would pay for them, although they have utility they have no commercial value i.e. air and water. (don't belong to anyone)
- Economic goods
- C
- Alternatives
- Choices
- Decisions
- Customs
- The state
- The market
- D
- Opportunity cost
- the value of the next best alternative that has been given up.
- Opportunity cost
- Scarcity problem
Business cycle
Información
- Descripción
- IEB grade 10 (Macroeconomics) Economics Mapa Mental sobre Macroeconomics, creado por t.c.zacharias22 el 05/11/2013.
- Creado por
- t.c.zacharias22
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