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F581 - Markets in Action

Beschreibung

Economics (Micro-economics) Mindmap am F581 - Markets in Action, erstellt von Azra Kucukkaramu am 19/04/2013.
Azra Kucukkaramu
Mindmap von Azra Kucukkaramu, aktualisiert more than 1 year ago
Azra Kucukkaramu
Erstellt von Azra Kucukkaramu vor mehr als 11 Jahre
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Zusammenfassung der Ressource

F581 - Markets in Action
  1. Competitive Markets
    1. Demand
      1. Determinants of demand
        1. Normal goods
          1. Inferior goods
            1. Substitutes
              1. Complements
              2. Movements
                1. Shifts
                2. Supply
                  1. Determinants of supply
                    1. Movements
                      1. Shifts
                      2. Market Equilibrium
                        1. How prices are determined
                        2. Elasticities
                          1. PED
                            1. YED
                              1. XED
                                1. PES
                              2. Managing scarce resources
                                1. The Economic Problem
                                  1. What to produce
                                    1. How to produce
                                      1. For whom to produce
                                      2. Economic resources
                                        1. The factors of production
                                        2. Specialisation
                                          1. Division of labour
                                            1. Exchange
                                            2. The role of markets in allocating scarce resources
                                              1. Opportunity cost
                                                1. Production Possibility Curve (PPC)
                                              2. Market Failure and Government Intervention
                                                1. Types of Efficiency
                                                  1. Allocative
                                                    1. Pareto
                                                      1. Productive
                                                      2. Externalities
                                                        1. Social Costs
                                                          1. Private Costs
                                                            1. External Costs
                                                            2. Social Benefits
                                                              1. Private Benefits
                                                                1. Private Costs
                                                                2. Negative Externalities
                                                                  1. Positive Externalities
                                                                  2. Methods of Government Intervention
                                                                    1. Effectiveness in correcting Market Failure
                                                                    2. Merit and Demerit Goods
                                                                      1. Public, Private and Quasi-Public Goods
                                                                        1. Meanings
                                                                          1. Differences
                                                                            1. Examples
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