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Economics (RC (capital (T (finacial), D (the tools used to produce goods…

- - - - The gain of a choice given preference of the individual
  - - - finacial
    - - the tools used to produce goods and services
  - - - land
        
        earns
        
        rent
      - labor
        
        RC
        
        human capital
        
        D
        
        the quality of the labour
        
        D
        
        work time and effort that people devote to producing goods and services
        
        earns
        
        wage
      - capital
        
        earns
        
        intrest
      - entrepreneurship
        
        earns
        
        profit
  - - - the human resource that organize the factors of production
  - - - act of comparing cost and benefits and choosing the alternative that maximizes benefits and minimizing costs
  - - - Is the highest value of all alternatives that are given up
  - - - marginal benefit
        
        the benefit from an increase of some activity
      - marginal cost
        
        the opportunity cost from increasing some activity
- - - - normative
        
        what ought to be
      - positive
        
        what is