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.RI.6.2

CCSS.RI.8.2

CCSS.RL.6.1

CCSS.RL.7.1

CCSS.RL.7.2

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