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This video explains the concept of an economy in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about economies, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course or K-12 curriculum.
Economics is the study of the economy, or the part of a society that creates wealth. Wealth is not just money. Wealth comes from the production of goods and services, which people buy with money. People who study economics, called economists, look at how people create wealth, how they use it, and how different people get different amounts of it.
In this curriculum, students are introduced to basic personal finance and economic concepts, such as scarcity, choice, goods, services, saving, spending, and banks. They explore these concepts through popular children’s literature to reinforce reading fluency.
The word economy describes how a country or place is doing in making goods, and how much money it has. The amount a country sells and makes is called economic...
Encyclopædia Britannica, Inc. As a social science that studies how a society’s resources are shared, economics (a) describes and analyzes choices about the way goods and services are produced, distributed, and consumed, and (b) assesses the consequences of those choices. The word “economics” comes from the Greek oikos, meaning ...
22 mar 2024 · An economy is simply how a country or region manages its resources. These resources can include money, people, land, or even toys! Now, think about that toy store again. Every toy has a price based on how many people want it and how many are available. This is called ‘supply and demand’.
What is an economy? An economy is a system for allocating resources to meet people's needs and wants. It determines how goods and services are made and exchanged. The study of the economy is called economics and a person who studies economics is called an economist. The Economy You've probably heard people talk about "the economy."
