ECONOMIC

这是一篇关于ECONOMIC的思维导图，主要内容包括：chapter2 FACTORS OF PRODUCTOR，CHAPTER4 PRODUCTION CURVES，Chapter1 Scarcit,choice and opportunity cost。

ECONOMIC

• Chapter1 Scarcit,choice and opportunity cost
  • Resources are scare or finite
  • scarcity is Not shortage
  • Shortay quantitydquantitys upply
  • wants:the goodsand services that people may like tohave but are not alway. realized.
  • fundamente economic probiem
    • unlimited wants
    • demand supply
  • fundamental/Basic economic problem
    • scure resources but unlimited wants
  • scarcity
    • a situation in which wants and needs are g reater than the resoures available
  • Thereare certain.busic need that must be Scatisfied if we areto stay alive
  • food, shelter and clothings water
  • need
    • things that are necessary for survial
  • choise
    • opportunity cost
      • scarse resources
      • Unlimited wants
  • opportunity cost
    • the cost expressed of the next best alterntive that is forgone when a choise is made
  • choices
    • Scarcity
      • Finite Resources
      • Infinite Wants
  • What to produce
    • what to produce and in what quantities
  • What to produce
    • what to produce and in what quantities
  • Economic goods
    • a product which requires resources to produce it and therefore has an opportunity cost
  • Freegoods
    • a product which does not require any resources to make it and so does not have an opportunity cost.
• chapter2 FACTORS OF PRODUCTOR
  • Factors of prouducton
    • the economic resources of land, labour, capital and enterprise
  • Lood
    • Gifts of nature arailable for production
  • interprise
    • Risk bearing and Key decision making in business
  • Labour
    • Human effort used in producting goods and sorvices
  • capital
    • Man-made goods used to supply other products
  • capital goods
    • human-made goods used in producton
  • consumer goods
    • goods and services purchased by purchased by households for their own satisfaction
  • occupationally Mobile
    • occapable of changing use
  • Gegraphcally Mobile
    • Capable of moring from one bcation to another location
  • Occupationaly immobile
    • Incaptable of changing use
  • Geograph cally immobile
    • Incaptable of moving from one location to another location
  • Most land is occupationally mobic
  • occupationally Land is geographically immobile/mobile
  • Mobility of labor
    • he ability of labour to change where it works or in which ocupation
  • Mobility of capital
    • the abitily to change where capital is used or in which occupation
  • Mobility of enterprise
    • the ability to chage where entrprise is used or in which occupation
  • Enterprise is the most mobile factor of production
  • Exterprise is geographically mobbile and occupational mobile
  • Quantity of land
    • does not change much
  • Quantity of natural resources
    • Fertiliesers irrigation pallution contral labor quantity is fluenced by the unrnber of workes available and the unmber of houhs
  • produivity
    • the cutput per factor of production in hour
  • labor productivity
    • output per worker hour
  • productivity
    • output
  • Quality of labor canbie impoved as result of better education , better training more experience and better healthcare.
  • Inverstment
    • spending on capital goods
  • capital is influenced by investment
• CHAPTER4 PRODUCTION CURVES
  • Production possibility Curve
    • Asimple representation of the maximum level of output that an economy can achieve, given its current resources and state of technology; may be referred to as a production possibility frontier.
• scarcity
  • fundamente economic probiem