Notes on basic economics concepts.

Economics Notes

The Economic Problem

Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.

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• Wants, which links to...
• Needs, which links to...
• Scarce Resources:
  
  • Land
    
    • Rent
  • Labour
    
    • Wages
  • Capital
    
    • Interest
  • Enterprise
    
    • Profit
  • Uneven Distribution
• The Science of Choice (linked to Scarce Resources)
  
  • Value
  • Utility
  • Sacrifice
    
    • Opportunity Cost

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