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Economics in the real world

After doing research, i have decided that these photos represent economics in the real world.

Farming

I think this represents economy well because farming is a business where you make your own product, sell it and use that money to grow more product.

This is economics as it shows how they spend there current money to make more money and create a cycle by doing so.

Banks

I think banks represent economy due to it being the cetre point of money, this is where people go to take money out of there accounts and put money in there accounts.

Secondly, the banks are an opportunity to gain more money by just letting it be in an account through interest.

Retailers

Retailers are a big part of economics as they help form the economy due to people spending money on the products these places sell.

They are also very relevant in todays economy due to the rising cost of living meaning the prices are rising and everything is becoming more expensive.

Factories

Factories are a big part of economics as they produce the things we need in reatilers,schools,places of works etc.

They spend the money on making these products and then sell them off, using the profit to make more and more products.

Having these factories helps form the economy as it makes us more self sufficient as we are able to support ourselves when it comes to factory products.

Job centres

Job centres is a part of economics as if we have more people working there is more oppurtunity for making essential things to sell.

Secondly, it gives more people more money which is good for the economy as people are spending more money on things at the shops which gives more profit to the factories and other places that produce things.

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