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- First Period
- Today we are learning about wants and needs
- What are wants and needs?
- Second Period
- What are economic systems?
- Hello class today we will be talking about the types of economic systems
- What is demand
- Third Period
- Good afternoon class today will will be learning about supply and demand
- What is supply?
- Check out the items on the shelf. One is a phone and one is an apple. The phone would be classified as a want because people want phones and don't need them. The apple would be a need because you need food to live. Wants are the things we want to have but don't need and needs are the things we have to have.
- Lunch (4th period)
- Yeah. Its kinda cool.
- There are 4 different types of Economic systems. Here is what they are and what they do. The market is when the consumers determine how and industry works and function. They chose and make the goods. This means it is consumer controlled. The mixed cycle can be any. It can be controlled by both consumers and government and many more things. Traditional is based on culture. It can be passed down or you do things that relate with your culture. The last one is command. This one relies on the government to make decisions.
- Fifth Period
- Hi class today we are learning about business cycles
- Supply and Demand is very important. When a company supplies something that coustomers are demanding it. They are supplying for the demand. If the Supply is high and the demand is low you will have to many things or objects. If the supply is low and the demand is high you will not have enough things or objects. If the Supply is high and the demand is low and if the demand is low and the supply is low you will be at the perfect amount of object. When people want more things consumers tend to make more money.
- The bus
- The kids are learning about very important things but they don't know why.
- Hey have you guys learned about all this business stuff today?
- Yeah!
- Business cycles depend on how a business is doing. If a business is doing well then the slope or dip will be higher meaning they are doing well. If the business slope is going down that would mean they aren't doing so good. It all depends on what the people want and what they are doing.
- What are business cycles
- The kids learned a lot today. They learned about wants and needs, economic systems, supply and demand, and business cycles.
- Learning about business was really fun today. We learned a lot
- Yeah!!!
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