Economy

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					Economy
   • The amount of money and the
     way it is spent in a country.

   • Is there a lot of spending
     money or a little bit of
     spending money?

   • If people in a country have
     money to spend the economy
     is good.

   • If people in a country do not
     have jobs and don’t have
     money to spend then the
     economy is bad.
Goods
  • Things (stuff) you can
    buy.

  • If you can touch it
    then it’s a “good.”
Services
    • When you DO something
      for someone it is called a
      service.
    • Teaching
    • Cleaners
    • Sales people
    • Bakers
    • Doctors
    • ________________?
Supply
   • The amount of stuff
     you have to sell.

   • The number of things
     you have to sell.
Demand
   • The number of people
     who want to buy your
     goods or services.

   • If demand goes up
     prices go up.

   • If demand goes down
     prices go down.
Prices go up when everyone
   wants the same thing.

             • Most people want gasoline
               but there isn’t much to
               sell.

             • When the supply of gas is
               low (the amount you have
               to sell) then prices go UP.
Prices go down when few people
   want what you are selling.

             • Only a few people want to
               dirt flavored jelly beans so the
               price goes down.

             • When only a few people want
               something there is a sale.
Human Resources

       •   The workers (people) at
           a business.

       • Examples: teachers,
         doctors, sales clerks,
         waitress, mechanics
Capital Resources

        • The things used at
           a place of business.

        • Examples: cash register,
          the building, ovens, desks,
          chairs
Natural Resources

       • The things found naturally on
         earth (NOT man made).

       • Examples: trees, fish, rocks,
         rivers
The things people make or grow
        is called goods?
A service is what people provide when
  they do something to help others.
Economy is the way a country
 makes and uses its money.
A producer is someone who grows
   or makes something to sell.
   Consumers are people
who buy goods and services?
Supply is term for the amount of
   goods available to sell?
          When the supply of an
object is greater than the demand then the
             price goes down.

   More stuff than people who want it.
 A shortage of a goods in the
marketplace is called a scarcity.
A plan for how to use your
money is called a budget.
Income is the money you earn
      for doing a job.
Expenses are the things that
    money is spent on.
 The place where people sell
things is called a marketplace.
         When something
   is made in a factory over and
over on an assembly line it is called
         mass production.
By: Miss Hultenius

				
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posted:8/8/2012
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