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Microeconomics

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Mind Map on Microeconomics, created by m-said256 on 19/11/2013.
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Mind Map by m-said256, updated more than 1 year ago
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Microeconomics
  1. Scarcity
    1. Human wants. Unlim.
      1. Means. Lim.
        1. Choice
          1. Prod. Of. G&S's
            1. Production
              1. How?
                1. Who?
            2. Goods & Serv.
              1. Copper in US
                1. Opportunity cost incr.
                  1. Prices also incr.
              2. Dem & Supply
                1. Demand
                  1. Rel. 2 wants
                    1. Increase income
                      1. Increase quantity
                    2. Supply
                      1. Oil price e.g.
                        1. 1973-1974
                          1. oil price raised
                        2. F.O. prod.
                          1. Land & raw mater.
                            1. Nat. res.
                              1. coal
                                1. Natur. gas
                                  1. Oil
                                2. Labour
                                  1. Hum. inp
                                  2. Capital
                                    1. Finance
                                  3. Opport. costs
                                    1. Benefit
                                      1. Alternative
                                      2. Prod. bett resul
                                      3. C. O prod
                                        1. Fixed
                                          1. Rent paid
                                            1. Local auth
                                            2. Costs
                                            3. Variable
                                              1. Output
                                                1. Higher prod
                                                  1. Higher Var. costs
                                            4. (cited in Sloman,J 2006 p121)

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