Why Study Economics?
Needs and Wants
Objectives: Students will be able to:
• Define economics.
• Explain why it is important to study economics.
• Identify where economic decisions begin.
• Describe the differences between needs and wants.
• Describe goods and services, and how they apply to economics.
Other learning materials you may find helpful:
GDP and The Business Cycle
Federal Reserve, Monetary Policy, Money Supply
UNEMPLOYMENT, LABOR MARKET, LABOR FORCE
PRODUCTIVITY AND SPECIALIZATION
Goods and Services, THE FOUR FACTORS OF PRODUCTION
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