This unit explores the basic economic concepts.Several engaging videos are linked within the PowerPoint. A Kahoot game is also linked and an objective assessment is available. Students will learn the following:
Why the economic resources are important.
How economies use the 4 economic utilities.
Why an understanding of scarcity is important.
Important characteristics of the different economic systems.
How price impacts supply and demand.
Why some products have elasticity of demand.
Why we use economic measurements.
How the phases of the business cycle affects the economy.
How government affects global trade.