Economics uses more numbers and tracks more trends than other social studies subjects.

comparing present-day numbers to month-ago numbers

a way to show that data other than just listing numbers in lines of type.

many people can digest information more easily if they see it on a graph,

showing graphs and tables and charts that put a visual face on what is essentially a bunch of numbers.

Investing is a way to make money with your money

Inflation causes the increase of prices. Inflation causes the increase of prices.

Long-term goals - Things that you need or want in a few years or more, for example, going to college, buying a house, and even starting a business. Generally, these goals are expensive and require some planning.

The earlier you start investing, the sooner you can reach your financial goals.

With investing, time also makes money. the downside of investing is that there

is a risk of losing your money.

supply, which is how much of something you have

demand, which is how much of something people want.

If more people want something, they will be willing to pay more for it.

In the same way, the price will go down when the demand goes down. When the new style of basketball shoes comes out, everyone wants the new shoes.

It means that you can track supply and demand by also tracking price. If something has a high price, you can usually conclude that the demand for that item is low.

But what if the demand is low and no one wants to buy them? The seller wants to make some of his money back, so he might lower the price. He is already out the $4,000. He can't change that. But he can change how money he is bringing in. If he lowers the price of the books to $4 each, he breaks even on each book but still takes in some of the money he had spent to buy the books in the first place. And this bookseller would have had to lower the price of the books because the demand was low.

The reverse can also be true. If the bookseller decides that he wants to get as much money as he can back, then he might raise the price of the books to $6 each, figuring that he will sell fewer books overall but will get more money for each book he sells.

Anyone with a computer can sell stuff, and anyone else with a computer can buy that stuff.

The Internet knows no geographic boundaries

businesses have websites to help their traditional sales. You can go to the store in person, or you can check out the store's website.

Some businesses totally internet – Amazon

Computers are constantly changing the way people do business

What type of economy do we have?

Market Economy:Started with barteringPeople depend on each otherSpecialized jobs for goods and servicesEverything based on supply and demandRun by people

What is the law of supply?

Law of Supply:As prices go up, producers make more. As prices go down, produce less.

What is the law of demand?

Law of Demand:As prices go up, people demand less. As

they go down, people demand more.Demand is the ability and willingness of

people to buy somethingSupply curve tells us how much of

something producers can make at various prices