EconomicsEconomics

By Alex Saddler, Tom Kutina, By Alex Saddler, Tom Kutina, and Dillon Nelsonand Dillon Nelson

EconomicsEconomics

Economics is what Economics is what keeps a nation on keeps a nation on its feet. It its feet. It determines determines whether or not a whether or not a nation’s people nation’s people are educated, are educated, well-paid, fed, well-paid, fed, healthy, and living healthy, and living a good life.a good life.

The TourThe Tour

We will now give We will now give you a little tour on you a little tour on what it’s like to what it’s like to start an economy.start an economy.

The Dawn of an EconomyThe Dawn of an Economy

First, either private First, either private companies or the companies or the government builds government builds factories to produce factories to produce goods. goods.

The government The government builds schools, builds schools, transportation, and transportation, and health care health care facilities.facilities.

EducationEducation

Adults use the Adults use the schools to learn schools to learn how to run the how to run the new factories.new factories.

Children also go to Children also go to school, but they school, but they are not trained for are not trained for work until they are work until they are adults.adults.

WorkersWorkers

The newly-trained The newly-trained adults take up jobs at adults take up jobs at the new factories.the new factories.

The factory benefits The factory benefits from the workers from the workers making goods for making goods for them.them.

The workers also The workers also benefit from the benefit from the factories, who pay factories, who pay them wages.them wages.

SpendingSpending

The workers, who get The workers, who get paid by the factories, paid by the factories, use the money to buy use the money to buy food, clothes, furniture food, clothes, furniture and other accessories and other accessories for their families.for their families.

The factories and The factories and businesses selling businesses selling these goods receive these goods receive money from the money from the consumers.consumers.

Tax DayTax Day

Both workers and Both workers and factories have to factories have to pay taxes to the pay taxes to the government.government.

The government The government uses these taxes uses these taxes to pay for the to pay for the schools, schools, transportation, and transportation, and medical facilities.medical facilities.

The loop goes onThe loop goes on

After taxes pay the After taxes pay the public services, more public services, more people are educated people are educated for work, more for work, more factories are built, factories are built, and the new workers and the new workers run the new factories.run the new factories.

The Economics cycle The Economics cycle simply loops; it will simply loops; it will never stop… or will never stop… or will it?it?

Uh-oh….Uh-oh….

When the tour When the tour mentioned “it will not mentioned “it will not stop,” it means that it stop,” it means that it will continue to grow will continue to grow stronger, as long as stronger, as long as everything that we everything that we mentioned happens. mentioned happens. But, an economy is set But, an economy is set up like a Domino line, up like a Domino line, and knocking down and knocking down that one brick knocks that one brick knocks them all down...them all down...

The end is near…..The end is near…..

Let’s pretend that all Let’s pretend that all of of

the factories started the factories started

making goofy making goofy products products

that no one likes. Thatthat no one likes. That

means that no one means that no one will will

buy the products.buy the products.

Well, if no one buys Well, if no one buys

anything, the anything, the factoriesfactories

don’t make any don’t make any money, money,

and will have to fire and will have to fire

some of their some of their workers.workers.

If the people can’t If the people can’t work, work,

they will have no they will have no moneymoney

to buy products or to buy products or paypay

taxes.taxes.

Now the Now the government can’t government can’t make any money, make any money, making it making it impossible to impossible to keep the public keep the public services.services.

Without public Without public services, services,

people can’t getpeople can’t get

educated, drive on educated, drive on thethe

streets, or go to the streets, or go to the

doctor when they doctor when they are ill are ill

or injured.or injured.

It is now impossible forIt is now impossible for

factories to recruit factories to recruit

workers to make theirworkers to make their

products. The factories products. The factories

close, and the last close, and the last brickbrick

of the economy is of the economy is down.down.

Wrap-upWrap-up

In conclusion, an In conclusion, an

economy is one of the economy is one of the

hardest things to run.hardest things to run.

It is most difficult to It is most difficult to

start one, or improve a start one, or improve a

terrible one. You need terrible one. You need

money and education tomoney and education to

make factories, butmake factories, but

money comes from money comes from factories.factories.

Wrap-upWrap-up

So far, this slide show So far, this slide show has covered:has covered:

How an economy is How an economy is startedstarted

How an economy is How an economy is maintainedmaintained

The Economy’s loopThe Economy’s loop How an economy How an economy

can break downcan break down

THE ENDTHE END

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