Jamie Perez Economics Coggle Branch
vocabulary!
Economics-the study of making buying selling of goods and services
services- any kind of work performed for others
goods- something that you can feel and buy
demand- a product wanted by the consumers
supply-what is available for sale
pysical,economic.culteral
scarcity-limited resources and there is not enough for every one to have at least one
producers-anyone who makes or grows a good or a service
consumer - anyone who buys a good or a service
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the three ecomomic questions are what to produce,how to produce, for whom to produce.
they all are command but they work differently and they let they people be in charge of bissnesses
senerios
the total number of products that a coutry has made over the year
human capital,capital resourse ,natural resoures
estela dose what her mother used to do as a little girl and now her mom is a designer like her mom what type of economy dose she live in
where Pablo lives the government makes all the disecions in the country he cant even shop no one owns a shop
chris mom owns a shop and she makes the disecions but the government checks to see how well everything is
sally lives is a country where the government has no say at all in her shop she dose what ever she want