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5 Economic Questions

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Emily McKenzie :D

on 23 April 2013

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Transcript of 5 Economic Questions

5 Economic Questions By: Emily McKenzie 8-2 : Introduction 1. Who Produces goods and services? 2. What goods and services are produced? 4. For whom are goods and services produced? 5. How are goods and services distributed? 3. How are goods and services produced? Conclusion Wow... You've finally decided to open your own business! The only thing is... You don't know where to start! Well, consider these five questions! Today, I will be answering these questions as if I were in the Trade Show, selling my product. (Let's say I'm selling jewelry) We will be looking into the "Behind the Scenes action", or what happens when the Entrepreneur isn't selling. The people who make the products are the ones who produces goods and services. If I'm selling jewelry and it's handmade, then I am the producer. For example, Maggie in 8-6 is selling her feather jewelry, so she is also a producer, and Maitray and Keven with their Charger Up! Products, they're producers too! The goods and services produced are whatever your Trade Show product is. Even if you're selling something as simple as food (Wormles, Planet Cake, etc.) or if you're selling pretty original (Popped, Hidden Chapters, etc.), those products are still the goods produced. Different goods and services have different ways of producing them. For example, Parth's product VSkins is produced differently than Pronoy's product, Aperture. Aperture makes different glasses and such, and VSkins are phone/iPod cases. It is a high chance that they are not produced the same. Every product has a different way of getting produced, that's what makes them all special. Again, this can vary on the product. If you're selling Lacelets (Hockey laces turned into bracelets), the product might be appealing to hockey fans, whereas if you're selling Concha Marinas (Necklaces with shell pendants), it would attract people who like the beach. Different products attract different people with different tastes. The goods are distributed throughout the day of the Trade Show. Say you just bought something from Sweet Tooth at their booth. You will receive it the same place that you bought it. Economy is everywhere... There's larger economy, such as with the government and countries, and smaller economies, such as the Trade Show or any school-wide event. Basically, if you didn't have economy, money and goods will be all over the place!
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