Bueller What is economics ECONOMY Making and spending How a country meets the basic needs of its people Economy Businesses owners compete against each other Government interferes ID: 736111
Download Presentation The PPT/PDF document "Anyone….Anyone… Bueller" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
Anyone….Anyone…Bueller….Bueller.
What is economics??Slide2
ECONOMY
-
Making and spending
=
$$$$.Slide3
How a country meets the basic needs of its people
EconomySlide4
Businesses owners compete against each other
Government interferes very little
Prices are determined by supply and demand
Free
Enterprise Economy
(Market)Slide5
the amount of something availableDemand
desire to purchase goods or services
at a certain time or place
(How bad do people want it)
S
upply
Supply and Demand of a hula hoop
Hula Hoop (Safe Share)Slide6
Supply is high, demand is low?
Iphone 6
What happens to the price when…
Supply is low, demand is high?
Iphone
5CSlide7
GOOD
-
an item
of value, you can touch it.Slide8
Service
-
nonphysical
products (intangible)
that are of value to peopleSlide9
TRADE
-
the act or process of
buying, selling,
or exchanging goods
;
two kinds of trade
are
domestic and global or foreignSlide10
MARKET
- where buying and selling of products takes placeSlide11
IMPORT
–
to bring in
(merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, or services.
Slide12
EXPORT
–
to
send/ship out
(commodities
) to other countries or places for sale, exchange.
Slide13Slide14Slide15
Canada's EconomySlide16Slide17
provide public services and sometimes regulate business.
Governments Slide18
Examples of Government RegulationSlide19
RESOURCE
-
an item of value that people use
natural
–
raw materials gotten from the earth
human
– people
with certain
skillscapital
– money, machines, buildings,
etcSlide20
Kernel EssayComplete the Kernel Essay to show your knowledge of economy.Slide21
SCARCITY
- the inability to
satisfy all of everyone’s
needs
Ethiopia Faces Another Famine
Pact Promises More
Water
for Texas Farmers
January 10, 2003
Group Warns of Global Water Crisis
Slide22
Mexico’s EconomySlide23
TRADE BARRIER
- anything that
prevents trade
from occurring
freelySlide24
GLOBAL ECONOMY
– the economy of the worldSlide25
DOMESTIC TRADE
– trade within a country’s borders
Slide26
GLOBAL TRADE
– trade between nations