Economics

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  • Economics  The scientific study of how individuals meet their unlimited wants with limited resources
  • Today, we will be talking about Economics and why we study it, children
  • First we will talk about Needs. You need a house, for shelter. You also need things like food, water and clothes.
  • Next, we will talk about Wants. You want to go to the fair. You might also want a dog, or nice clothes and makeup.
  • We will also talk about Entrepreneurs, who is a person that owns a business like Steve Jobs, the creator of Apple. 
  • We will be talking about services such as a doctor, who provides care to sick patients 
  • Finally we will be talking about Efficiency and inefficiency, which is like either doing your work or playing on your phone instead of doing so.
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