Supply and demand will be covered as well as looking at economic charts. We will also be discussing competition, global trade, and scarcity.
- I can explain how people decide what to produce, how to produce and for whom to produce.
- I can explain how specialization leads to global trade.
- I can explain how supply, demand and competition interact to determine price.
- I can explain how individual compare price and quality when selecting goods and services.
- I can compare data on charts and graphs to make economic conclusions.