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  •  sir might I ask you what you know about the economy
  • well a want is something that is not  necessary at the moment a need is something that is essential like food you need it so you can live and a toy is a want
  • well what do you want me to tell you about the economy
  • well why not wants and needs
  • come with me on a walk to the supermarket and I can tell you more about the economy
  • okay
  • It was another wonder full day in the city as Fred sat down on his front steps of his house to find a young boy passing by asking him a question
  • there are different types of economic systems such as a governed economy where the government has full control over the market from prices of stuff as well as what new business can come into the market. Then there's a free market economy where the people control the market from prices of stuff to what jobs there are and then there's a mixed economy which has free and government economy rules  
  • oh and there's a traditional economy which is where evreybody pitches in and gets stuff in return but not alot of country's use this economy  
  • okay what about supply & demand
  • much how I want to buy this fish there was a whole supply of fishes and they were for a good price so there must be a high demand and a high supply of fish because of the price being so low or the store is selling them at a low price because the fish smells
  • ah the business cycle is very simple you see the economy starts off at the trough or a depression basically this is when the economy is at its lowest point and it can go up or down farther where it will hit a depression but when it goes up it goes in a recovery state where its starting to grow from that trough and then it will soon hit its peak where the economy  is at its highest point but what comes up must come down so then the economy hits the recession point where it starts to go down and soon the economy will hit it's trough again to start the cycle again
  • that's why were going to the store and because I need to buy a fish for dinner
  • what about the business cycle
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