Economy
Economics is part of almost everything you could ever think about. The ECONOMY is the system of producing goods and services, and either distributing them to others and/or and consuming them ourselves. It is at often times regulated by the government of a country and maintained by its citizens.
In simple terms...
"It's businesses [in a country] and how they work. [An example could be a] lemonade stands and how many dollars they take in." So, if any of you had a lemonade stand one summer, you contributed to the United States' economy!
But to make this lemonade stand you needed to buy items like lemons, sugar, and cups. An economy can't continue to run without things to sell or things to buy. Let's learn more about what these "things" are...
In simple terms...
"It's businesses [in a country] and how they work. [An example could be a] lemonade stands and how many dollars they take in." So, if any of you had a lemonade stand one summer, you contributed to the United States' economy!
But to make this lemonade stand you needed to buy items like lemons, sugar, and cups. An economy can't continue to run without things to sell or things to buy. Let's learn more about what these "things" are...