Getting to know you, learning about the syllabus, defining the word economics, identifying a strong economy, a weak economy, and how each of us fits in the economy.

Money moves in a system called an economy

Each economy has 4 basic parts:

1- workers

2- businesses

3- banks

4- governments

In an economy people, governments, businesses, and banks work together to meet people’s wants and needs.

Here is another picture of the economy:

Every time one person pays money to get his needs met, like filling up the gas tank or getting a haircut, it causes the economy to move. The gas station employees earn money, and the hair stylist earns money, and then they can use that money to get their needs met like buy food or pay their rent or mortgage...and hopefully they can put some money into their savings account- money for a rainy day.