1. SCARCITYThe basic problemfaced by alleconomies is scarcityPeople have unlimitedwantsThe earth has limitedresources to satisfythese wants 2. ECONOMIC DECISIONSWhat…
What is Economics Chapter 1 Words to Know Needs Things that a person cannot live without Food Clothing Shelter Air Words to Know Wants Things people would like to have but…
ECONOMICS - DAY 2 Introduction to Business & Marketing REVIEW What is Economy? What are Resources? What are Factors of Production? Land Labor Capital Entrepreneurship…
Chapter 3.1 0422.9.4 Identify the resources (factors of production) that are used to satisfy wants and needs. 0422.9.5 Explain how scarcity affects the availability of economic…
Warm Up Warm Up Who decides what products will be produced? Individuals What roles do you think individuals play in the economy? List! Individual Roles in Economy Consumer…
Jeopardy! Topic 1: 1 point This social scientist primarily studies how people change resources into goods and services What is an economist? On each question slide, you can…
Economics Economics Defined Economy: the organized way a nation provides for the needs and wants of itâs people Economics: the management of the production, distribution…