Download - Economics cates nora_lesson1
ABC of Economics
By: Nora Cates
A is for Advertisements. A way to show off a good or service to make people want to buy for specific reasons.
B is for Banks.
Banks store our money until we need it.
C is for Cost.
How much does this cost? A price you pay for something.
D is for Demand. Demand is how much you want something. The higher the demand the high the price.
E is for Entrepreneur.
An Entrepreneur is a person with an idea who takes Risks to organize and start a business.
F is for Finances.
Finances is another word for managing a lot of money.
G is for Goods. Goods are produced by a business. People buy them. You can see and touch them.
H is for hard work.
Entrepreneurs work hard to organize and start a business.
I is for Income.
Income is money you receive on a regular basis for doing a job.
J is for Job. A job is work that can be done to earn money or for a reward like an A on a test.
K is for Key.
The Key to a successful business is hard work.
L is for Loss.
A loss is when you spend more than you make.
M is for money. We all know what that is.
N is for Needs.
Needs are things we have to have. Food Water Shelter
O is for Option.
Option is the choice you have. You have the option to eat burgers or chicken.
P is for Profit and Product. Profit is the extra money an entrepreneur makes after all his bills are paid.Product is what the entrepreneur sells.
Q is for Quality.
Quality describes the condition of something. The quality of your work (good or bad) depends on what you put into it.
R is for Risk and Resources.
Risk is the chance a person takes and could lose everything.
Resources are what you have available to make something.
S is for Services. Services are something you get done and pay for. Haircut- car wash.
T is for taxes.
This is money paid to the government to help pay for schools and roads.
U is for Up.
When the economy is up businesses are doing good.
W is for Wants. Wants are things we don’t need. Toys and electronics are examples of wants. I want a new I phone.
X is for the missing value.
Entrepreneurs try to figure how much money they will make. X is the unknown number. X+$500= $700
Y is for You.
You can be an entrepreneur one day if you work hard.
Z is for Zero. There is zero/nothing left in this presentation!
The End
Credits
Images
Google Images (n.d.) www.google images.com
Hall, A. (2008) Show Me The Money. New York, New York. DK Publishing