What is the economy all about?
Storyboard Text
- Hey, how are you?
- Im doing great, thanks for asking. what are you thinking of ordering?
- A want is something that people don't need to survive, while a need is something that is required to live.
- I really want a burger but I need to stay healthy.
- Oh, I guess that means this bottle of water is a need
- Is their a difference to a want and a need?
- Speaking of wants and needs. I need advice on starting my own business?
- What are the 4 types?
- The 4 types are traditional - culturalistic and everyone puts forth effort,Command- Government control,Mixed- Balance between government and consumer control, and finallyMarket- Driven by its consumers.
- It depends on the type of economy your'e in. Their are 4 types of economies.
- Opening Scene
- So my best option is market?
- Correct, but what product are you planning on selling and how much supply and demand is needed?
- Wants and Needs
- Speaking of knowledge regarding your own business, you need to keep track of the business cycle.
- Types of Economies
- Thanks for meeting me here and for all of the important information that you provided.
- Your welcome, if you need anything else just give me a call.
- Supply and Demand
- Im planning on making my own shoe business but don't know what supply and demand means.
- A demand is what the consumer is wlling to pay or want for an item, while the supply is what the business is willing / able to sell.
- Business cycle
- Business cycle?
- The business cycle is a function of an economic process that determines the market.
- Closing Scene
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