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Economic - Coggle Diagram

- - - - Scarcity
        
        A situation where there is not enough to satisfy everyone's wants
        
        Why its happens?
        
        Lack of resources
        
        To Solve it
        
        Choices
        
        Goods
        
        Produced and Consumed
        
        Services
        
        Opportunity cost
      - Wants
        
        It effects: Individuals, firms and government
      - Needs
    - - Economic good
        
        A product which requires resources to produce it and therefore has an opportunity cost
      - Free good
        
        A product which is not produced, does not have an opportunity cost and is natural.
  - - - Labour
      - Capital
        
        capital goods
        
        Consumer goods
      - Land
      - Enterprise
    - - Mobility of Land
        
        Geographical mobile
        
        Occupationally mobile
      - Mobility of labour
        
        Differences in the price and availability of housing in different areas and countries
        
        Family Ties
        
        Differences in educational systems in different areas and countries
        
        Lack of information
        
        Restrictions on the movement of workers
      - Mobility of capital
      - Mobility of enterprise
        
        Entrepreneur
    - - Quantity of labour
        
        Productivity
        
        Labour Force
        
        labour productivity
        
        Output
      - Quantity of land
      - Quality of land
      - Quality of labour
      - Quantity of capital
        
        Investment
        
        Net investment
        
        Gross investment
        
        Negative net investment
        
        Depreciation
      - Quality of capital
    - - Microeconomics
      - Macroeconomics
      - Economics as social science
        
        Models
        
        Positive statements
        
        Normative statements
      - Ceteris paribus
      - Time periods
        
        Short Run
        
        Long Run
        
        Very long run