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WHAT IS ECONOMY?

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About

The 'WHAT IS ECONOMY?' mind map template is a comprehensive educational resource containing 130 nodes across 8 major branches, designed for students, educators, and self-learners to grasp foundational economic concepts. It covers the definition of economy as a social science studying choices under scarcity, the three greatest economic questions ('What', 'How', 'For Whom'), economic models with graphical analysis, and the evolution of economic thought including 'Rational elections' and 'marginal cost'. The template also explores 'Economy as a social science and politic tool' with 'Positive declarations' and 'Normative declarations', and concludes with 'Data visual graph representation' explaining scatter plots and axes. This mind map serves as an all-in-one cheat sheet for introductory economics, integrating theory and visual aids.

Terms and Conditions

When to use this template

High school or college students studying economics

Preparing for an introductory economics exam or quiz

Teachers and professors creating curriculum

Designing a lesson plan for a macroeconomics or microeconomics class

Self-learners or professionals transitioning into business roles

Self-studying basic economic principles before a business course

How to use this template

Step 1

Launch and Explore Core Concepts

Open the .xmind file and expand the eight major branches to navigate foundational economic definitions and the three central economic questions.

Step 2

Study Models and Personalize Content

Review the graphical analysis and economic thought branches while adding your own notes or highlighting key terms to reinforce your learning.

Step 3

Analyze Data and Export Results

Examine the data visualization section for scatter plots and then export your customized map as a PDF or image for study sessions.

Frequently asked questions

It includes 130 nodes covering 8 major branches: Economy, Greatest Economy Questions, Economic Model, Economic thought, Economy as a social science and politic tool, and Data visual graph representation. It defines micro/macroeconomics, production factors, and graphical analysis.

Open the .xmind file in Xmind, then explore each branch sequentially. Use the 'Greatest Economy Questions' section to understand resource allocation, and the 'Economic Model' branch to practice graph interpretation.

Yes, the template is free to download and fully editable in Xmind. You can add notes, change colors, or reorganize nodes to suit your learning style.

'Ceteris paribus' is explained under 'Economic Model' as a method for graphical representation of relations between more than two variables, holding other factors constant.

Absolutely. You can replace the example scatter plots with your own data, adjust axes labels, and add new graph types to practice economic modeling.

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