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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.
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.
The economy is a complicated thing, but kids can grasp it with some guidance from parents and teachers. Use these tips to explain the economy to the kids in your life.
Economics is a social science that studies how a society’s resources are shared. It describes and analyzes choices about the way goods and services are produced, distributed, and consumed. It also assesses the consequences of those choices.
Kids learn about the basics of economics including microeconomics vs. macroeconomics, what is the economy, goods and services, and types of economies.
definition: the system of making and spending money and producing goods and services within a certain place, such as a state or country. The new factory will help the state's economy.
The economy is a vast and interconnected system that affects everything from the price tag on your favorite toy to why your parents go to work every day. In this discussion, we’ll start unraveling the mysteries of the economy in a way that’s easy for you to understand.
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. Two important terms in an economy are goods and services. Goods are physical objects that are bought and sold. They include things like cars, food, and clothes.
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 activity.
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 activity.