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Unit One Mindmap - Coggle Diagram

- - - - Organizations extracting natural resources
    - - Organizations that manufacture goods made from resources collected by the primary sector
    - - Organizations providing services
    - - “knowledge based” economy which concerns transfer of information
- - - - The business is being created and managed by 2 or more individuals
    - - A privately owned company
    - - Someone who owns and runs a business by themselves
    - - A larger organisation that is owned by many individuals (shareholders)
- - - - Where a business grows using only its own available resources
    - - Any method of growth that involves another external organization
  - - - Where the unit cost of production falls/decreases as output increases
    - - Where the unit cost of production increases as output increases