Business
Storyboard-Text
- Introduction to economics
- Supply and Demand
- Needs are something that is nesscary for your survival. Like food or water. Wants are somethign you don't really need but would like to have, Like a phone
- I want to get a new dress and a bracelet
- I'm going to the store and I need to get some water and bread
- Wants and needs
- The country I'm visting right now has a market system, the resturant I'm in is influenced a lot by supply and demand and the goverment is not really involved
- The country I'm from has a mixed market system. Which is kinda like the market system but has more government control
- Economic systems
- There are four different economic systems
- The Demand is really high and the Supply doesn't match that, it's pretty low
- Wow I really want to get this new iphone but so many other people are buying it so it's sold out!
- Now the demand isn't as high and the supply matches it
- Supply and Demand
- It's a couple months later now and theres a lot less people wanting to buy the new phone, so I can buy one now because it's in stock again
- This is an example of being in the peak of a business cycle
- The economy is doing great right now, I've been making a lot of money, lots of people have jobs and new and existing business are doing great
- Business cycles
- This is an example of being in the depression business cycle
- The economy is not doing too great anymore, I haven't been making as much money, lots of people have been losing their jobs and many business haven't been doing as good lately
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