Lets Talk Economics The following group of terms are economic terms that you will not only hear when...
-
Upload
jason-whitehead -
Category
Documents
-
view
215 -
download
2
Transcript of Lets Talk Economics The following group of terms are economic terms that you will not only hear when...
![Page 1: Lets Talk Economics The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in real life.](https://reader036.fdocuments.net/reader036/viewer/2022082917/55159d8f55034691418b5ed4/html5/thumbnails/1.jpg)
Let’s Talk Economics
The following group of terms are economic terms
that you will not only hear when talking about Ancient Rome, but even
in “real life” in the present.
![Page 2: Lets Talk Economics The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in real life.](https://reader036.fdocuments.net/reader036/viewer/2022082917/55159d8f55034691418b5ed4/html5/thumbnails/2.jpg)
First of all… “What is economics?”
Or, in other words, it is studying how people use money.
Well, simply put, it is “the science that deals with the
production, distribution, and consumption of wealth”.
![Page 3: Lets Talk Economics The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in real life.](https://reader036.fdocuments.net/reader036/viewer/2022082917/55159d8f55034691418b5ed4/html5/thumbnails/3.jpg)
So what are the terms that you have to know?
1) Import
2) Export
3) Market
![Page 4: Lets Talk Economics The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in real life.](https://reader036.fdocuments.net/reader036/viewer/2022082917/55159d8f55034691418b5ed4/html5/thumbnails/4.jpg)
Import
Trade good brought into a country
![Page 5: Lets Talk Economics The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in real life.](https://reader036.fdocuments.net/reader036/viewer/2022082917/55159d8f55034691418b5ed4/html5/thumbnails/5.jpg)
ExportTrade goods sent to markets
outside a country
![Page 6: Lets Talk Economics The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in real life.](https://reader036.fdocuments.net/reader036/viewer/2022082917/55159d8f55034691418b5ed4/html5/thumbnails/6.jpg)
Market
A demand for goods; the opportunity to buy or sell.
![Page 7: Lets Talk Economics The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in real life.](https://reader036.fdocuments.net/reader036/viewer/2022082917/55159d8f55034691418b5ed4/html5/thumbnails/7.jpg)
So what are other terms that you have to know?
1) Supply
• The amount of an item that is in stock or available
2) Demand
• The level of want/need for an item