Goods

Services

Economic Welfare

oppportunity cost

economic goods

Free goods

Economic activity

Scarcity

Factor Incomes

Factor market

Free market ecconomy

market

buyer

sellers

supply

planned economy

mixed economy

wholesale

Decoupling

Derived demand

Composite demand

Joint Supply

Joint demand

Price mechanism

Secondary Markets

Production

Specialisation

Division of labour

Productivity

Allocative efficiency

Income

Wealth

Absolute poverty

Relative Poverty

Demand

Effective Demand

Latent Demand

Substitute good

Normal Good

Inferior good

Disretionary incomes

Ostentatious Consumption

Speculative Demand

Supply

Producer Surplus

Consumer Surplus

Economies of Scale

Internal Economies of Scale

External Economies of Scale

Diseconomies of Scale

Productive Efficiency

Social Efficiency