03.20.24 Laws of Economics

Presentation

•

Social Studies

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8th Grade

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Practice Problem

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Easy

JUNIOR ESTRADA

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10 Slides • 5 Questions

Labeling

Match the definitions

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economy

GDP

command economy

import

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In the beginning,

created

…and it was good.

England established colonies based on

, expand TRADE, increase WEALTH, expand POWER. The colonies existed to make

for England. The

restricted American colonial trade.

Multiple Select

What are the THREE Laws of Economics?

Self-interest

Competition

Supply & Demand

Captial

Multiple Choice

What is the Law of Self-Interest?

Individuals act in a way that is most beneficial to themselves.

Individuals act in a way that is most beneficial to society.

Individuals act in a way that is most beneficial to the environment.

Individuals act in a way that is most beneficial to others.

Multiple Choice

Which of the following is an example of the Law of Competition?

Multiple companies lowering their prices to attract customers

Companies collaborating to fix prices

Companies ignoring market demand

A single company monopolizing the market

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Match the definitions

Drag labels to their correct position on the image

command economy

GDP

economy

import

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LABELING

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