Learning Economics in the Medieval Times.
Updated: 5/7/2018
Learning Economics in the Medieval Times.
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Storyboard Text

  • In the medieval time, just outside a home of a fair maiden.
  • Fair maiden what saddes you so?
  • My favorite shop is now to expensive to buy from and I don"t know why?!!
  • Oh that's easy it is due to inflation that prices have risen and of course if measured by the inflation rate.
  • But will it ever be the price I can afforded again?
  • Oh, so now we hit a Depression calling for rise in prices for more expansion.
  • Change to a short walk in town as man explains to the woman.
  • Yes, for you see there it what we call a business  cycle that goes on forever.
  • So I can shop again once an expansion happens?
  • Yes and once the cycle is at its peak, making goods more reasonably priced.
  • Good bye, fair maiden I am happy I was of service.
  • Have returned back to the young woman's home.
  • Thank you for your help I can wait to go shopping again.
  • Inflation- is the rise of a price of a good and decreased to the purchasing power of money. Inflation rate- is the percent change in a price year to year. Business Cycle- is the ups and downs of the economy. Depression- A large number of unemployed, the declining of income,and sever recession. Expansion- is the increase in economic activity and decrease in prices. Peak- is when real GDP stops at a expanding and begins to decline.
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