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Concept Maps

Economy and Economic Entities — Concept Maps

ICSE · Class 9 · Economic Applications

4 concept maps of Economy and Economic Entities for ICSE Class 9 Economic Applications, each also written out as a text outline.

43 questions38 flashcards5 concepts

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An infographic explaining the meaning of an economy as an organization where people earn income to satisfy wants, showing various workplaces and activities.
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One of 6 illustrations for Economy and Economic Entities in Super Tutor — alongside flashcards, concept maps and practice questions.

4 Concept Maps

Flowchart showing cooperation between different producers in making a cotton shirt

Flowchart showing cooperation between different producers in making a cotton shirt

The map in words

  • Cotton Farmer
    • Yarn Mill
      • Textile Mill
        • Tailor
          • Cotton Shirt
  • Iron Mines
    • Steel Mills
      • Machine Makers

Flowchart showing how specialization leads to exchange systems in an economy

Flowchart showing how specialization leads to exchange systems in an economy

The map in words

  • Person Specializes in One Job
    • Produces Surplus
      • Exchange System
        • Traditional: Barter System
          • Goods for Goods
            • Meet Other Needs
        • Modern: Monetary System
          • Money for Goods

Comparison between simple and complex economies showing their key characteristics

Comparison between simple and complex economies showing their key characteristics

The map in words

  • Types of Economies
    • Simple Economy
      • One Person One Product
      • Barter System
      • Limited Specialization
    • Complex Economy
      • Division of Labor
      • Money System
      • Mass Production
      • High Interdependence

Economy as a system of cooperation and mutual exchange that helps people earn a living and satisfy wants

Economy as a system of cooperation and mutual exchange that helps people earn a living and satisfy wants

The map in words

  • Economy as a system of cooperation and mutual exchange that helps people earn a living and satisfy wants
    • Meaning of economy
    • Simple economy
    • Complex economy
    • Basic economic entities
    • Consumers
    • Households
    • Firms
    • Government

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Frequently Asked Questions

What are the important topics in Economy and Economic Entities for ICSE Class 9 Economic Applications?
Key topics in Economy and Economic Entities include Meaning of Economy, Simple Economy and Complex Economy, Basic Economic Entities, Households and Firms in Markets. Study these first, then practise questions on each for Class 9 exams.
What do the concept maps for Economy and Economic Entities show?
The 4 maps show how the ideas in Economy and Economic Entities connect: Flowchart showing cooperation between different producers in making a cotton shirt; Flowchart showing how specialization leads to exchange systems in an economy. Each map is also written out as an outline on this page.
How should I revise Economy and Economic Entities for Class 9 exams?
Learn the core ideas first, then work through the 43 practice questions on Economy and Economic Entities. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Economy and Economic Entities

All ICSE Class 9 Economic Applications Concept Maps

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