What are the concepts in VWL?
VWL, or Volkswirtschaftslehre, is the German term for economics. It encompasses a wide range of concepts and principles that explore the production, distribution, and consumption of goods and services in an economy. Some key concepts in VWL include supply and demand, which determine prices and quantities in the market, and the study of various economic systems such as capitalism, socialism, and mixed economies. VWL also analyzes factors such as inflation, unemployment, and economic growth to understand the overall health and performance of an economy. Additionally, tools like microeconomics and macroeconomics are applied in VWL to study individual economic behaviors and national economic activities, respectively.
This mind map was published on 22 September 2023 and has been viewed 119 times.
