794370
Description
Mind Map by Courtney Harding, updated more than 1 year ago
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Created by Courtney Harding
almost 11 years ago
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Micro Economics
- Economic problem
- Opportunity cost is the use of resources for one thing that cant be used for something else
- Factors of production
- Land - Rent
- Labour - Wages
- Capital - Intrest
- Enterprise - Profit
- Land - Rent
- PPB
- Product possibility Boundary
- PPB Graph
- At point x the resources are not being allocated efficently
- At point Y all resources are being allocated efficently and is showing productive effiecncy
- PPB Graph
- Product possibility Boundary
- Opportunity cost is the use of resources for one thing that cant be used for something else
Media attachments
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