1. ECONOMY AND ECONOMICS

2. WHEN WE THINK OF AN ECONOMY WE OFTEN THINK OF MONEY.

3. LOTS OF MONEY!!!!!!!

4. OR MAYBE WE THINK OF CREDIT CARDS!!!!!!

6. AN ECONOMY IS THE SYSTEM THAT PROVIDES OUR NEEDS AND WANTS.

7. WE HAVE FOUR BASIC NEEDS:

8. FOOD

10. CLOTHING

12. SHELTER

14. EDUCATION

16. AN ECONOMY PROVIDES THESE NEEDS!!!!
WITHOUT THESE 4 NEEDS BEING MET OR SATISIFIED, WE WOULD NOT LIVE ANY LONGER.
AN ECONOMY PROVIDES THESE NEEDS!!!!

17. AN ECONOMY ALSO SUPPLIES PEOPLES’ WANTS.
AN ECONOMY MUST SUPPLY THE 4 BASIC NEEDS.
AN ECONOMY ALSO SUPPLIES PEOPLES’ WANTS.

18. THE NUMBER OF WANTS BY CONSUMERS IN AN ECONOMY IS UNLIMITED.

19. HERE ARE SOME EXAMPLES OF “WANTS” IN AN ECONOMY.

21. IN AN ECONOMY THERE ARE PRODUCERS AND CONSUMERS.

22. PRODUCERS

23. PRODUCERS GROW OR MAKE THINGS THAT CONSUMERS NEED OR WANT.
HERE ARE SOME EXAMPLES OF PRODUCERS GROWING OR MAKING THINGS.

24. A FARMER IN HIS CORN FIELD.

25. WORKERS PRODUCING A CAR

26. BIG SCREEN T.V.’S BEING BULIT

27. HOUSES BEING BUILT

28. BUILDING FURNITURE

29. ALL OF THESE ACTIVITIES ARE EXAMPLES OF PRODUCERS GROWING OR MAKING THINGS CONSUMERS NEED OR WANT.

30. CONSUMERS

31. CONSUMERS USE THE THINGS THAT ARE MADE BY PRODUCERS.

32. HERE ARE SOME EXAMPLES OF CONSUMERS’ ACTIVITIES.

34. PEOPLE EATING FOOD

35. PEOPLE USING CARS

36. FURNITURE STORES

37. PEOPLE BUYING CLOTHES

38. THESE AND MANY OTHER ACTIVITIES ARE DONE BY CONSUMERS IN AN ECONOMY.

39. MOST PEOPLE IN AN ECONOMY OR BOTH PRODUCERS AND CONSUMERS.

40. ONLY THE VERY YOUNG AND THE VERY OLD ARE NOT PRODUCERS
ONLY THE VERY YOUNG AND THE VERY OLD ARE NOT PRODUCERS. EVERYONE ELSE IS BOTH A PRODUCER AND A CONSUMER.