Economy comic

Economy comic

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Storyboard Text

  • What doees economy mean?
  • Economy
  • there are 4 topics to economy first being  wants and needs, type of economy  systems, supply and demand, and business cycle 
  • wants and needs is wanting something you dont really need like video games jewelry and entertainment but things you do need like food shelter etc.
  • Wants and needs
  • Jimmy has a school assignment about economy and doesnt know what it is.
  • A market economy is very similar to a free market. The government does not control vital resources, valuable goods or any other major segment of the economy.
  •  This by no means indicates that it is fairer or an exact improvement; there are many things fundamentally wrong with a command economy.
  • traditional
  • command
  • types of economic systems 
  • market
  • an economic system combining private and public enterprise.
  • A traditional economic system is the best place to start because it is, quite literally, the most traditional and ancient type of economy in the world.
  • mixed
  • Jimmys teacher explains it to him
  • the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.
  • wants and needs
  • The peak is when the business is at its greatest point money is coming in and a people are happy everything is going great
  • Recession  is when employment levels go down production goes down and prices go down 
  • depression is when everything goes down and the business is at its lowest point
  • Recovery economy starts growing  again production and  employments come back slowly
  • type of economic systems
  • Supply and Demand
  • A Business cycle has four parts to it the peak, recession, depression, recovery 
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