Please enable JavaScript.
Coggle requires JavaScript to display documents.
economics and business, four factors of production - Coggle Diagram
economics and business
6 key concepts
-
scarcity
-
goods and services are the things that we are making with the limited resources we have in our world. people are trying to switch to sustainable items but only few businesses are succeeding
specialisation and trade
many countries around the world are unable to produce the variety of goods and services required to support the wants and needs of their population
independence
independence refers to the way we rely on other to satisfy our needs and wants all people in our economy rely on other people to help
-
making choices
making choices is a important part of economics as a costumer you must think about your choices and double check before making a choice
-