Micro-economics

leezuk
Mind Map by leezuk, updated more than 1 year ago
leezuk
Created by leezuk over 6 years ago
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Micro-economics
1 "Adam Smith" - self interest leads to the better good. Micro V Macro.Micro - How actors make allocations of scarce resource. Macro - what happens to the aggregate economy. Simplified mathematically by graphs and equations.
2 The law of demand - If we increase the price demand will decrease. If we
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