Transcription of Section1 Basic Economic Concepts Lagniappe - Amazon S3
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Section1 Basic Economic Concepts Lagniappe - Amazon S3
Section1 Section1 Basic EconomicConceptsAbove: These patrons(consumers) at one of NewOrleans's many restaurants(producer) are about toenjoy a wonderful meal(goods). Basic EconomicConceptsAs you read, look for: how people satisfy their wants and needs, the four Basic Economic questions, types of Economic systems, and vocabulary terms goods, services, consumer, producer,natural resources, human resources, capital resources,scarcity, opportunity cost, supply, demand, profit, traditionaleconomy, commandeconomy, and students at West Feliciana MiddleSchool learned important economicconcepts as they role-played the fu-ture. They will remember they wantedmore than their money could buy, andthey had to make choices.
Section 1 Basic Economic Concepts 79. Above: A car wash is an example of a service. Even groups who decide to hold a car wash must answer the four basic economic questions. class. Based on these available resources, the class decides to have a car wash. This decision answered the economic …
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