Read Exploring Business – Chapter 1.3.

Watch video on Economic Systems of the World.

Complete the What Is Economics? assignment in Teams.

Learning Targets:

• I can define economics.
• I understand the three questions Economists address: (1) What goods and services should be produced to meet consumer needs? (2) How should they be produced, and who should produce them? (3) Who should receive goods and services?
• I can discuss the two primary economic systems.