What is the economy all about?

What is the economy all about?
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  • I'll tell you this that econ only has wants and needs for people, economic system, supply and demand, lastly Business Cycle.
  • Yeah what is it?
  • What are economics?
  • Take this city as a mixed economy, meaning that people have free will, but will have to control their wrong duties. While the government  has some control but it is only limited power in order to keep it stable.
  • Going to keep that in my notes
  • Very informative.
  • Cool!
  • Wants and needs are what people want from the company and needs are what people need in order to survive.
  • Supply and Demand i'll tell you this shortly, More supply but less consumers buying = less profit Fewer supply but huge demand, will cause the company to shutdown to restock which will cause people to be angry.
  • Did not knew that!
  • 
  • Woah!
  • Lastly a business cycle is a cycle that regulates on how much profit their company is making. 
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  • Hope you learned something!
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