Tổng quan về kinh tế Economics

• Barter The exchange of goods or service without money.. Economic ChoiceYou make an economic choice when you only have money for certain items, not all.. Opportunity CostOpportunity cos

• SOL 3.7

• SOL 3.8

• SOL 3.9

• SOL 3.10

• Exchange

To trade one thing for

another.

Example: I want to trade

in my green disk for a

blue one.

• Barter

The exchange of goods or service without money.

Example: I’ll give you my cake for your ice cream.

Three Kinds of

Money

Cash Checks Credit Cards

Needs vs Wants

• Needs – what

people must

have to live.

Food Clothing Shelter

• Wants – the

things we would like to have, but can live without.

Economic Choice

You make an economic choice when you only have money for certain items, not all.

Example:

I do not have enough money for both popcorn and a

pretzel I must choose, so I buy the popcorn That is

my economic choice.

YUM!

Opportunity Cost

Opportunity cost what you must give

up when you make an economic

choice.

Example:

I chose the popcorn, so I have to give up the

pretzel That is my opportunity cost.

Supply and Demand

• Supply is the

amount of a

good or service

available.

• Demand is what

people are willing and able

to buy.

I would like to buy one candy cane, please

Scarcity - Sometimes there is not enough of something to go around That item is scarce

Oh no! Ice cream is scarce!

“I scream, you scream, we all scream

for ice cream! La, la, la, la, la!”

The Ice

Cream

Singers

What can I do with my money?

• Spend it

• Save it

bonds.

Goods and Services

Three types of resources work together in our

economy

Human Resources

Capital Resources Natural Resources

Natural Resources are things we get from nature.

Oil Coal Trees

Water

Human resources are jobs done by humans at

work

Capital resources are the machines, tools and

buildings needed to do a job

Producers make goods or provide services.

Consumers use or buy goods and services.

Economic Specialization

Individuals or groups who concentrate

on one type of good or service.

People need each other for goods and

services.

The Ancient Greeks traded their goods across

the Mediterranean Sea.