ECONOMIC$. Studying how people use their resources. Average Salary based on Education. Jack and Jill. Jack and Jill live on an island. Everything on their island is an asset. Asset —Something that can be used by people for a purpose .
Studying how people use their resources
Trade--Exchanging assets for shared benefit
Currency—A commonly valued asset used to trade
Scarcity—How much or little of an asset there is. The more scarce (low supply), the higher the price.
Car costs $10,000 Car costs $20,000
Amount of $$ x2