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Chapter 1
Chapter 1
Chapter 1
Chapter 1
Chapter 1
Chapter 1
Chapter 1
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Chapter 1

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Transcript

  • 1. Chapter 1 Jordan May Block 3 Economic systems
  • 2. Needs and Wants <ul><li>Needs </li></ul><ul><li>Water </li></ul><ul><li>Clothes </li></ul><ul><li>Food </li></ul><ul><li>Wants </li></ul><ul><li>New car </li></ul><ul><li>cell phone </li></ul><ul><li>Big house </li></ul>
  • 3. Goods <ul><li>goods are things you can see and touch </li></ul><ul><li>Goods </li></ul><ul><li>Food </li></ul><ul><li>shoes </li></ul>
  • 4. Services <ul><li>services are activities that are consumed at the same time that they are produced </li></ul><ul><li>Services </li></ul><ul><li>Car wash </li></ul><ul><li>Hair cut </li></ul>
  • 5. Natural Resources <ul><li>Rivers </li></ul><ul><li>Trees </li></ul><ul><li>Vegetables </li></ul>
  • 6. Human Resources <ul><li>Grocery store owner </li></ul><ul><li>Farmer </li></ul><ul><li>Truck driver </li></ul>
  • 7. Capital resources <ul><li>Buildings </li></ul><ul><li>Equipment </li></ul><ul><li>money </li></ul>

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