WHAT IS AN ECONOMY?. Journal Topic. What is an economy? Save as: 1_lastname_firstname_U2J1. Georgia Performance Standard. MKT-MP-2: Integrate social studies skills into marketing, sales and service to obtain an understanding of customers and the economic environment in they function.
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WHAT IS AN ECONOMY?
MKT-MP-2: Integrate social studies skills into marketing, sales and service to obtain an understanding of customers and the economic environment in they function.
The way a nation makes choices. These choices involve how the nation will use its resources to produce and distribute goods and services.
things in the lake are
into a more useful form (lumber, steel)
The difference between wants and needs and the resources available to meet these needs is called Scarcity.
Nations have unlimited wants and needs but limited resources – Scarcity forces the nations to make economic choices.