Economics Unit One

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Economics Unit One by Mind Map: Economics Unit One

1. Economics

1.1. Macroeconomics

1.2. Microeconomics

1.3. Normative Economics

1.4. Positive Economics

2. Markets

2.1. Product Markets

2.2. Resource Markets

3. Economy

3.1. Command Economy

3.2. Market Economy

3.3. Mixed Economy

4. Factors of Production

4.1. Land

4.2. Labor

4.3. Capital

4.4. Entrepreneurship

5. Capital

5.1. Ceteris Paribus

5.2. Scarcity

5.3. Opportunity Cost

5.4. Invisible Hand

5.5. Incentive

5.6. Human Capital

5.7. Allocation

5.8. Capital Goods

5.9. Consumer Sovereignty

6. Models

6.1. Economic Model

6.2. Circular Flow Model