What is the economy?
Storyboard Text
- Oh my god this is so cute!
- Hmm, we need a computer store! I'm gonna start my own business
- Wants: In this scene, the girl is shopping for clothes and sees a really expensive shirt. She thinks it's cute and wants to buy it, however she does not NEED the shirt.
- Do you think we will have enough?
- Hopefully!
- Needs: In the scene above, this lady is grocery shopping for her family. This is a need because you obviously need to buy food for your house.
- I want another hamburger.
- Types of economic systems: There are 4 types of economic systems, however I think the best is Market. In market economies, you can have a lot of freedom with little government control.
- Hurry up!
- Yes! I love candy!
- Supply: In this scene, workers are supplying product to sell to their customers. They are making sure they have enough to sell.
- Demand: In this scene, it demonstrates customer demand because they are eating at the restaurant and they want more food.
- Business cycles: There are many cycles of a business from start to finish. One example of a cycle is the peak of a business, which everything is at a high rate and the customer demand is high. The scene above is an example of that.
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