Economics Economics http www truveo comKidsWeighInOn EconomicCrisisid257263140 Economics

Economics

Economics http: //www. truveo. com/Kids-Weigh-In-On. Economic-Crisis/id/257263140

Economics is… One of the newer social sciences Studies the production, distribution, exchange, and consumption of goods and services that people need or want

Fundamental Problems Scarcity › resources that are limited › http: //videos. howstuffworks. com/hsw /16985 -basic-concepts-of-economics -scarcity-video. htm Distribution of resources › process by which cultures decide how to develop and allocate the scarce resources.

Important People: Adam Smith › Author of An Inquiry Into the Nature and Causes of the Wealth of Nations (1976). John Stuart Mill › Proposal for worker education and taxation. Karl Marx › International workers’ revolution.

Important people: John Maynard Kenyes › Wrote the book, The General Theory of Employment, Interest and Money (1936). › Recession, inflation and unemployment › Free enterprise system

Elementary School Children Begin economics with wants and needs Consumer education › http: //www. usmint. gov/kids/

General Economic Concepts Needs and wants Goods and services Barter and payments Poverty Recession

American Economic Institutions Simulation and calculation of taxes Stock market › http: //www. prongo. com/stock/index. pl Bank interest Unions Charities Money and coin collecting Federal spending

Economics of Family and Work Workers in community Parents’ careers Successful workers Local economy Family budget Consumer reports

World Economics Countries economics comparison Countries political and economic systems Third world wages and US imports Trade between countries

Works Cited Duplass, James. Teaching Elementary Social Studies. 2 nd edition. New York: 1997 Mc. Keever, C. Course Binder