5038839
Description
Mind Map by Pablo JdeP, updated more than 1 year ago
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Created by Pablo JdeP
over 10 years ago
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Economics
- Demand and supply
- Opportunity Cost
- Implicit
- Explecit
- Cost of the next alternative forgone (Draw a table)
- Illustrate and apply PPF graphs to opportunity cost
- Implicit
- Scarcity
- Choices
- Allocation of resources
- Samuelson's theory
- Samuelson's theory
- Choices
- Demand/Supply for Labour
- Different wages in sexes
- Productivity
- Factors affecting D.L
- Holidays
- Wages
- Security of Job (How long will it last)
- Risk of Job (If its dangerous)
- Economic
situation of the
person
- Holidays
- Unemployment
- Different wages in sexes
- Factors for a shift in demand or supply
- Income tax
- Disposable income
- Tastes and fashions
- Complimentary products
- Indirect Tax
- Raw material prices
- Income tax
- Explain the shape of a D/S curve
- Distinguish between movements along the curve and shifts
- Distinguish between movements along the curve and shifts
- Equilibrium point
- Dis-equilibrium (Draw them)
- Surplus
- Shortgage
- Surplus
- Dis-equilibrium (Draw them)
- Opportunity Cost
- Factors of Production
- Identify the
four factors of
production
- Land, Labour, Capital, Enterprise and being able to describe them
- Land, Labour, Capital, Enterprise and being able to describe them
- Primary, Sencondary and
Tertiary Jobs being able to
identify and describe them
- Labour intensive
- Capital intensive
- Identify the
four factors of
production
- Economic Systems
- Distinguish between Free, Mixed and
Planned economies
- Public sector
- Private
- Gouvernament Spending
- Public sector
- Distinguish between Free, Mixed and
Planned economies
- Market failure
- Monopolies ≠ Perfect competition
- Identify the different types of market
failure and the reasons for these
- Externalities
- Social benefits and costs
- Laws and regulations
- Monopolies ≠ Perfect competition
- Specialisation
- Advantages and
disadvantages of this
- Efficiency
- Quality
- Productivity
- Advantages and
disadvantages of this
- Money
- Undersand Functions of money
- Store of Value
- Medium of exchange
- Measure of Value
- Standart of deferred payment
- Store of Value
- Undersand Functions of money
- Business Ownership
- Different types of business
- Advantages and disadvantages of this
- Liability
- Control
- Responsability
- Shares and dividents
- Profit
- Liability
- Sole traders, Partnership, LTD, PLC and Co-Operatives
- Advantages and disadvantages of this
- Trade Unions
- Strikes
- Wages
- Production
- Only care about their members
- Strikes
- Business objectives
- Different types of business
- Banks
- Different types of banks
- Commercial Banks
- Savers, borrowers, debt, mortgage and lenders
- Cheques, debit and credit card
- Savers, borrowers, debt, mortgage and lenders
- Central Banks
- Monitors the economy
- Control exchange rates
- Monitors the economy
- Commercial Banks
- Stock exchange
- Different types of banks
- Elasticity
- Practice with formulae
- Identify if elastic/inelastic by knowing the PED
- Factors that determine PED
- Luxury
- Addictivness
- Substitutes
- Luxury
- Factors that determine PED
- Identify if elastic/inelastic by knowing the PED
- Tax incidence
- Consumer pays or Producer pays
- Subsidy
- Consumer pays or Producer pays
- Practice with formulae
- Saving
- ability to save among different economic groups
- Disposable income
- Saving patterns
- ability to save among different economic groups
- Costs
- Variable Costs
- Fixed Costs
- Total Costs
- Equation costs
- Marginal, Variable, Total, Fixed, Averages.
- Equation of variable
- Marginal, Variable, Total, Fixed, Averages.
- Variable Costs
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