1 / 12

Economics

Economics. By: Mr. Washington. The lack of a needed resource Scarcity The means of production are publicly owned and economic activity is controlled by a central authority. Command Economy. Limit placed on the amount of a product that can be imported from a particular country Quota

neorah
Télécharger la présentation

Economics

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Economics By: Mr. Washington

  2. The lack of a needed resource • Scarcity • The means of production are publicly owned and economic activity is controlled by a central authority. • Command Economy

  3. Limit placed on the amount of a product that can be imported from a particular country • Quota • Goods shipped out of a country • Export

  4. Focus on the development and production of one product or service • Specialization • More than needed of a particular resource • Surplus

  5. Makes decisions based on customs and beliefs passed down form parents to children. • Traditional Economy • Tax added to the price of imported goods • Tariff

  6. Individuals (through prices and profits) decide what will be produced. • Market Economy • To buy goods from another country (bringing in goods) • Import

  7. Malik wants to one day own a company that ________ goods and services to countries around the world. • Exports

  8. T’Keya has a ________ of jewelry. She should give all her extra jewelry to charity or sell it for a profit. • Surplus

  9. Focusing on one thing you do good, is called ____________ in economics. • Specialization

  10. Mr. Washington has a ___________ of hair. In economics shortages of goods and services occur regularly. • Scarcity

  11. The Wii that Michael wants for Christmas cost a lot, because of the _________ (tax added to imported goods) on video games made in Japan . • Tariff

  12. The ________ on imported Mexican tomatoes allows only 10,000 into the country. This forces us to buy more expensive Florida tomatoes. • Quota

More Related