Economics

money cost

cost of production

real cost

variable cost

fixed cost

create human wants

saisfy all human wants

redistrubute income so that it is used correctly

create perfect competition

allocate scarce resources to satisfy human wants

excess demand

excess supply

shortage in the market

many buyers in the market

no buyer in the market

goods are produced in the factories

goods are sold to wholesalers

prices are fixed for goods and services

goods and services reach the consumer

goods are sold to retailers

Scarcity

Durability

Divisibility

Homogeneity

Mobility