2 needs and wants
2 needs and wants a person in a small town would be. 2 needs would be to have a job, and money. 2 wants are to have more money, better house.
2 wants and needs a person on an island would be. 2 wants would be to have more food and more money. 2 needs would be to have good water and food.
2 wants and needs a person under 15 years old would be. 2 needs would to have good parents and food and wants would be to have a new phone and cute girlfriend/ boyfriend.
Economic wants and needs.
Three wants an Economic is a safe, helpful, and kind Economic.
Three needs an Economic needs are people, marketing, and an economy.
The decision making process
Identify the situation
Identify possible courses of action
Determine the pros and cons
Make a decision
Evaluate your decision
Step 1.: Identify the situation
I either could send it or not. I could help these people get in cows or just leave.
Step 2: I just could of drove by and went on my merry way or spend time and help these people.
step 3: Pros i would be helping people out cons might get attacked.
Step 4 : We decided to stay andf help.
Step 5:The decision was a good one it took 2 hours to get in 3 cows and one attacked me.
The difference between personal and business decision
A personal decision is when you buy a house and a business decision is when you buy more stores.
Public and Private wants
A Public want would be to have a good community. Private want would be to have a big house
Raw materials from nature that are used
People who make the goods and services for which they are paid
Things that are used to produce goods and services
Used by people who recognize opportunities and start businesses
How I play a role in the economic
I play a role in the econimic because i buy things and sell things. By buying things it helps out the store or business and by selling helps people get what they wants.
Missouri has a few limited resources a few are iron, coal, and stone.
3 Basic economic questions
Who should it be produced
How should it be produced
What should be produced
3 Types of Economic
Market Economy: an economic system in which economic decision in the marketplace.
Command Economy:An economic system in which a central authority makes the key economic decisions
Mixed Economy:Is an economy that contains both private and public enterprises.
A state in which opposing forces or influences are balanced.