What are the 5 basic concepts of Economics?

Physical features, Climate, Soil, Natural vegetation, Drainage, Agriculture, Minerals, Industries and Population. 1. Concepts of National Income. 2. Basic concepts of Demand & Supply and Consumer Equilibrium .

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What are the 4 units of Economics?

The economic way of thinking -- Economic systems -- The American free enterprise system -- Unit 2 : Market economies at work. Demand -- Supply -- Demand, supply, and prices -- Market structures -- Unit 3 : Partners in the American economy. Types of business organizations -- The role of labor -- Unit 4 : Money, banking, and finance.