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Basic Economic Concepts - Coggle Diagram
Basic Economic Concepts
Price
ruled by demand and supply
Objective Value
Supply
The willinges of a producer to sell in certain price
Demand
The willinges of consumer to buy
Market
The place where goods and services are sold
Equilibrium price
it is the price which is established where the demand function equals the supply function
F(s) = F(d)
Fairtrade
Try to establish a fair proce in some products for farmers
Inflation
Money loses value
Deflation
Money gains value
GDP
The total production in a given time in final price
Quantity and Quality
it does not consider costs of production
SPI
measures the life quality
Poverty
not able acces to a need
Capitalism
free Market
Markets
failures
Monopolies
externalieties
Pollution
Oligopolies
selfdetermination
Marxism
comunism
Government = Market
there is no selfdetermination
There is no private property
directly
socialism
Market has a plan = made by the government
inderectly
no motivated to invest