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The Economic Objectives of Individuals, Firms and Governments

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A Levels Economics (Unit 1, 1 The Economic problem) Mindmap am The Economic Objectives of Individuals, Firms and Governments, erstellt von beth2384 am 26/10/2013.
beth2384
Mindmap von beth2384, aktualisiert more than 1 year ago
beth2384
Erstellt von beth2384 vor fast 11 Jahre
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Zusammenfassung der Ressource

The Economic Objectives of Individuals, Firms and Governments
  1. PROFIT= REVENUE-COST
    1. INDIVIDUALS
      1. want to maximise UTILITY (satisfaction)
      2. FIRMS
        1. want to maximise PROFIT
        2. GOVERNMENTS
          1. want to maximise PRODUCTION
            1. in order to create WEALTH
            2. may also want to maximise EQUITY (fairness)
              1. through the DISTRIBUTION OF WEALTH
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