Supply & Demand

"Supply & Demand (Economics)" Wiki-references

Will the world still spin without money
Or does a country need their economy?
If it does, what can a country do
To supply the demands of the world and you?

Producers need to make what consumers want to take
With money from a job that people make.
Imports will come in and exports will go out
And that's what economics is all about. Let's shout, "economy!"

To provide something for the world to buy
Is what this concept tries to satisfy.
It's one of the factors that determines price.
When it's high, things cost less, which is oh so nice.
Can you guess the economic term we mean?
SUPPLY

There are many things that people want
Like clothes or food from a restaurant.
When the price is low, activity gets high
With people buying more from available supply.
Can you guess the economic term we mean?
DEMAND

Teacher: Companies supply the products and services that the world demands.
Crash: I demand that you supply more information.

Before a consumer can buy a thing
Like a shirt or candy or a diamond ring,
Someone has to make that thing to sell.
It can be a product or service done well.
Can you guess the economic term we mean?
PRODUCER

Most people in the world are considered this.
The busy ones like to make a shopping list.
Stores are where they like to go.
When they buy a lot, the economy can grow.
Can you guess the economic term we mean?
CONSUMER

Teacher: Consumers consume things that producers make.
Crash: Please produce more information for us to consume.

Where was your favorite toy made?
Maybe it was built from foreign trade.
A company doesn't always make things alone.
Sometimes they buy from another time zone.
Can you guess the economic term we mean?
IMPORTS

If a company has something the world would like,
Maybe fruits or rice or a really cool bike,
That company would be smart to start doing this
Or the chance to make money it will miss.
Can you guess the economic term we mean?
EXPORTS

Teacher: Imports are items that you get from another country. Exports are the opposite.
Crash: Did you import the information we have exported in this song?

Will the world still spin without money
or does a country need their economy?
If it does, what can a country do
To supply the demands of the world and you?

Producers needs to make what consumers want to take
With money from a job that people make.
Imports will come in and exports will go out
And that's what economics is all about. Let's shout, "economy!"

Check out the economy
Figure out the economy
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