ECONOMY (1): basic concepts

 Good morning!!

As we talked in class, this week we start a new Social Science proyect about economy.

What is economy?

It's important to understand and distinguish some concepts. Let's watch some videos to know them:

 

 

Now you are supposed to understand some basic economic concepts, be sure of this:

- NEEDS / WANTS

- GOODS / SERVICES

- PRODUCERS / CONSUMERS

-  SAVE / SPEND MONEY

- EARN / SPEND MONEY

- PROFITS (BENEFIT) / COSTS