Business project
स्टोरीबोर्ड पाठ
- Man, i'm looking online and I can't find anything about the economy. I need to know this for my test
- Did I hear someone say the economy?
- Well, your in the right place. I can teach you everything you need to know!
- Yeah, I did!
- Within our economy, consumers have wants and needs. For example a need is food, a want would be something like wifi.
- There's 4 main economic systems. Commad, Market, Mixed, and Traditional. Command is when the economy is controlled mainly by the government. The government can set regulations on prices, and decide what items will be produced. In a market economy, the government has little control on regulations. Mixed economy is a mix of market and command. This is the economy of the united states. Finally Traditional economy is influenced by culture and traditions. Countries that use this are often rural, otherworld countries.
- Intro
- A big aspect of the economy is supply and demand. Supply is a producers ability to supply consumers with what they want or need. What consumers want or need is the demand. When the suppliers make Cheap items, demand goes up and they then have a surplus. When products are too expensive, the demand does not meet the number being supplied, creating a surplus.
- Makes sense.
- Wants and needs
- The final thing you need to know about the economy is the business cycle. The business cycle is the cycle the economy takes every few years. At the peak of the economy, it will fall. employment levels begin to fall and the economy will eventually hit rock bottom. Unemployment is high and production is low. Once at rock bottom the only place to go is up. This is the point where the economy recovers. Unemployment goes up and the economy reaches a new peak
- I'm starting to get this.
- Types of economic systems
- I'm gonna go get an A!
- That's all you need to know about the economy. Hopefully you can pass that test!
- Supply and demand
- Business cycle
- Conclusion
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