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MI01 Central Economic Problem - Coggle Diagram
MI01 Central Economic Problem
Definition
Study
Choices
Consumers
Businesses
Scarcity
Exception?
FOP
Capital
Entreprenuership
Land
Labour
Scarcity
Reources
Limited
Wants
Unlimited
Choices
How?
Who?
What?
Decisions
Costs
Incentives
Benefits
Trade-off
Opportunity Costs
PPF
Efficiency
Opportunity Costs
Increasing
Concave
Constant
St Line
Choices
Shifts
Resources
Quantity
Quality
Technology
Scarcity
Circular Flow Model