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  • Introduction
  • Want to learn about the economy?
  • Wants and Needs
  • I NEED this peach I have not eaten in days
  • Look at my brand new TV. I have been WANTING it for a while.
  • Types of Economies
  • Traditional Economies. based on trends and traditions
  • Command Economies. governemnt controls all of it . they control supply and demand
  • Market Economies. regulation comes from supply and demand. free market
  • Teacher, what are the 4 types or economies?
  • Mixed Economies. Government and the people both have power
  • Here they are
  • We are going to go over 4 main topics
  • Supply and Demand
  • I have been looking for toilet paper forever now. Do you have any at this store?
  • No, sorry the demand for toilet paper has been so high that we dont have enough supply for everyone.
  • Bob really WANTED his brand new TV. But Jack NEEDED this peach to survive. A want is something that is not neccesary to have, while a need is something you need to survive.
  • Business Cycles
  • It used to be a business. We were doing so well we were at our peak and we decided to expand. Demand did not meet supply and we lost alot of our buisness. We then entered a depression and troughed for a few years before closing down
  • There are 4 types of Economies
  • Conclusion
  • I hope you learned more about the basics of business. All of these things are important factorse to whether or not a buisness can succeed.
  • Demand means whether or not people are buying it or not, and supply means the amount of product they have.
  • The business cycle goes Peak, Depression, Trough.
  • What happened to this place?
  • Hope you learned some more sbout the basics of business
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