Economic Systems


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the first powerpoint on chapter 1

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Economic Systems

  1. 1. Economic Systems Shane McNamara Block 2
  2. 2. Needs and Wants <ul><li>Needs </li></ul><ul><li>1. Food </li></ul><ul><li>2. House </li></ul><ul><li>3. Clothes </li></ul><ul><li>Wants </li></ul><ul><li>1. Playstation 3 </li></ul><ul><li>2. iPhone </li></ul><ul><li>3. Laptop </li></ul>
  3. 3. Goods and Services <ul><li>Goods- things that you can see and touch. The products you purchase. A Xbox 360 and a donut are examples of goods. </li></ul>
  4. 4. Services <ul><li>Services- activities that are consumed as they are produced. A haircut and a massage or examples of services. </li></ul>
  5. 5. Natural Resources <ul><li>Natural Resources are materials that are taken from nature. Examples include lumber, oil, and coal. </li></ul>
  6. 6. Human Resources <ul><li>Human resources are the people producing goods and services. Examples are farmers, factory workers, and truck drivers. </li></ul>
  7. 7. Capital Resources <ul><li>The products and money used in producing goods. Money, workers, and equipment are examples. </li></ul>