economy project

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I'll tell you everything
What is the economy all about?
In an economy, there are wants and needs...
...things people want to have, and things people need for everyday life.
Oh! Like wanting fancy shoes but needing food.
there are also 4 different types of economic systems. Market, mixed, command, and traditional...
...each economy differs in how much government control there is and how much resources are available to everybody. Our country has a mixed economy.
What else is there to learn about the economy?
Then there's supply and demand. Supply is how much product the company has to sell...
...and demand is how much product people want, or how many people want it.
Oh! Like right now the demand for cheese burgers is super high but all the restaurants have low supply of them!
Lastly there's business cycles. Business cycles are the cycle of highs and lows in the economy.
We're at a peak now then.
Peaks are when employment and business is at the highest, and depressions are at the lowest.
Thanks for telling me all about the economy!
No problem

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