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- Introduction
- Want to learn about the economy?
- Wants and Needs
- I NEED this peach I have not eaten in days
- Look at my brand new TV. I have been WANTING it for a while.
- Types of Economies
- Traditional Economies. based on trends and traditions
- Command Economies. governemnt controls all of it . they control supply and demand
- Market Economies. regulation comes from supply and demand. free market
- Teacher, what are the 4 types or economies?
- Mixed Economies. Government and the people both have power
- Here they are
- We are going to go over 4 main topics
- Supply and Demand
- I have been looking for toilet paper forever now. Do you have any at this store?
- No, sorry the demand for toilet paper has been so high that we dont have enough supply for everyone.
- Bob really WANTED his brand new TV. But Jack NEEDED this peach to survive. A want is something that is not neccesary to have, while a need is something you need to survive.
- Business Cycles
- It used to be a business. We were doing so well we were at our peak and we decided to expand. Demand did not meet supply and we lost alot of our buisness. We then entered a depression and troughed for a few years before closing down
- There are 4 types of Economies
- Conclusion
- I hope you learned more about the basics of business. All of these things are important factorse to whether or not a buisness can succeed.
- Demand means whether or not people are buying it or not, and supply means the amount of product they have.
- The business cycle goes Peak, Depression, Trough.
- What happened to this place?
- Hope you learned some more sbout the basics of business
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