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ECONOMICS 5 B - Coggle Diagram
ECONOMICS 5 B
Chapter 4
Resource allocation in different economic systems
Scarcity
Types of economies
Economyc systems
Market economy
Planned economy
Mixed economy
Price Mechanism
The role of the Gov. in economies
Resource
allocation in
different
economic systems
Chapter 8
PED
YED
XED
Elasticity and inelasticity
Normal goods, necesities and inferior goods
Demand supply
Chapter 2
Economic Methodology
Microeconomics
Macroeconomics
Positive and Nomative statements
Ceteris Paribus
The margin
Time periods
Chapter 1
Scarcity, choice and oppourtinity cost
The fundamental economyc problem
Wants
Needs
Opportunity cost
Chapter 9
Implications of PES
Factors influencing price elasticity of supply
Price elasticity
Chapter 11
Consumer and producer surplus
Producer surplus
Consumer surplus
Chaprter 7
chapter 10
market equilibrium and desequilibrium(demand)
Chapter 5
Chapter 6