resolving scarcity

Javed Hussain
Mind Map by , created over 6 years ago

Economics Mind Map on resolving scarcity, created by Javed Hussain on 05/05/2013.

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Javed Hussain
Created by Javed Hussain over 6 years ago
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resolving scarcity
1 all about allocation of a nations scrce rsorces
2 basic eo problm
2.1 wht 2 prod
2.2 4 who 2 prod.
2.3 how 2 prod.
3 oppurtunity cost
3.1 value of next best alternative
3.2 shown on ppc
3.2.1 diifent combination of 2 products an economy van prod. if all rsources r used up
3.2.2 trade offs = change in capital/consumer gds
3.2.3 consumr gsd= prchsed by households e.g food
3.2.4 captl gds= prchsed by firms and used 2 prod. othr gds e.g machinery/cars
4 ovr timme ppcs rise
4.1 become more efficient
4.2 economic growth
4.2.1 q. of population
4.2.2 q. of labour

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