In this series, we’re going to give you a crash course in Economics and make it easy to understand. Learn the basics of Economics and why it’s so important for our daily lives.
You'll understand the difference between Micro and Macro Economics.
Learn the difference between goods and services, needs and wants, producers and consumers, and supply and demand..
Find out more about the four types of economies, and the four sectors of the economy.
Should I spend or should I save? Learn to weigh costs and benefits.
What is Economics?
Can you define these terms?
Microeconomics vs. Macroeconomics
Venn Diagram: Compare and Contrast Micro and Macro Economics. (Print prior to watching the video.)
Types of Economies
Can you name the types of Economies and give an example?
The 4 Sectors of the U.S. Economy
Name and give examples of the 4 Sectors of the U.S. Economy.
For Profit, Non-Profit, Local Businesses
Goods and Services
Do you now the difference between goods and services? (Print prior to watching the video.)
Needs and Wants
Demonstrate that you know the difference between needs and wants.
Consumers and Producers
Name 5 producers in your community.
Supply and Demand
Think of a time when supply and demand affected something you purchased. Write all about it!
Saving and Spending
What would you do with $20? Would you save it, spend it, or both?
Costs and Benefits
Choose an item you want to buy for $20, and write about the costs and benefits of buying that item.
Course Conclusion
Economics Word Search
Economics Course Challenge
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