Economics

Trading something for something else - no currency involved

• demand

• barter

• goods

• market

A person who buys goods and services

• consumer

• entrepreneur

• resource

• currency

Tags

CCSS.RL.6.1

CCSS.RL.7.2

CCSS.RL.8.1

CCSS.RI.8.2

CCSS.RI.6.2

another word for money

• barter

• economics

• currency

• price

Economics is...

• studying goods, services, and how people can get them.

• studying trees, bushes, and other plants.

• studying animals and wildlife.

• studying food, and how food is made.

A new bakery comes to town. Now there are more options for a bakery. What will happen to the price?

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iPhone X just came out and many people want it. What will happen to the price?

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Where buyers and sellers exchange goods and services.

• government

• economics

• market

People who produce goods and services.

• producer

• consumer

• market

What is a characteristics of a market economy?

• lack of choice

• individual choice

• competition

• central ownership of property

Which type of economy has central ownership and lack of individual choice?

• Market Economy

• Mixed Economy

• Command Economy

• Traditional Economy