What is the Economy all about

Hey Mom, what exactly is Economy?
well you see Economy is a cycle full of wants and needs, different systems, and supply and demand
Daughters asking mother, who is in the work force about something she learned but wants better expalined
Mother explaining the different criteria
Mother Explaining- Starting with wants and needs. Wants are things that spark your interest and make you happy, but you don't necessarily need it. Needs are things that can help keep you alive or educated things that are necessary for your survival.

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