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Basic Economic Principles
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JM
Jill Moore
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Похожие Интеллект-Карты
План Интеллект-Карты
Basic Economic Principles
создатель
Jill Moore
1. Market Economy/Free Market (Capitalism)
1.1. country's trade and industry are controlled by private owners for profit
1.2. no state
2. Adam Smith/ Wealth of Nations/ Invisible Hand
2.1. money in and of itself did not constitute wealth wealth but merely its marker
3. Self-interest vs. selfishness (greed)
3.1. selfishness is doing things out of greed for ones advancement
4. Division of Labor/ Specialization
4.1. the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency
5. Fabian Socialism
5.1. British socialist organisation
5.2. advance the principles of democratic socialism via gradualist and reformist effort in democracies, rather than by revolutionary overthrow
6. eco
6.1. home
7. market economy
7.1. individuals are making decisions
8. supply curve
8.1. curves up
9. market equilibrium
9.1. when the supplier and the demander reach a decision together
10. self interest is specifically for ones happiness and well being
11. I, pencil
11.1. the invisible hand
11.2. division of labor
11.3. self interest
11.4. cooperation
11.5. miracle of exchange
12. Graph of Supply & Demand/ market equilibrium/ shortage/ surplus/ scarcity/ opportunity cost
12.1. more demand requires more supply and vice versa, sometimes there are times when there is a big demand but not enough supply or opposite
13. Command Economy (Socialism)
13.1. social ownership of the means of production and workers' self-management
14. Laissez Faire
14.1. a policy or attitude of letting things take their own course, without interfering
15. United Order vs. Socialism
15.1. unit order was one of the earliest stages of the law of concretion
15.2. united order also meant everything would be in common
16. Role of Economic Virtue & Rule of Law in a Free Market
16.1. the rule of law is something everyone has thee ability to have, and virtue is having high moral standards
17. nomy
17.1. management
18. democratic socialism
18.1. people chose to live in a socialist way, they shift the power to the national government and away from themselves
19. demand curve
19.1. more people will want the product and it will go up, but when prices go down on a product, then it will go down
20. sacred graph of economics
20.1. supply, demand, equilibrium, and prices
21. role
21.1. economic virtue
21.2. the rule of law and role of virtue could easily clash
22. USA
22.1. occupies 6.6% of worlds. land
22.2. private property
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