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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) Mapa Mental sobre The Economic Objectives of Individuals, Firms and Governments, criado por beth2384 em 26-10-2013.
beth2384
Mapa Mental por beth2384, atualizado more than 1 year ago
beth2384
Criado por beth2384 mais de 10 anos atrás
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Resumo de Recurso

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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