6. Wednesday March 27th The Great Depression 1

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1. Do you know what an economy is ? Define it in a way a 5th grader would understand it, SO NO COPY & PASTE. 

An economy is a type of trade and consumption of goods services by different agents






2. What are some specific metrics (different ways) that we can use to determine if the economy is doing well or poorly?”
Brainstorm 3 to 5 answers

- Consumption
- Sales
- Sharing
- Production
- Retention





3. Google some examples of different types of economies, what are they ?
https://www.investopedia.com/video/play/whats-economy/
 economy is the production and consumption activities that determine how scarce resources are allocated in an area, economy exists to satisfy its participants’ needs, Economics analyzes the production, distribution and consumption of goods and services.




4. What is consumption 
the using up of a resource




5. What is Production ?  the action of making or manufacturing from components or raw materials, or the process of being so manufactured.

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