Thursday, 3 November 2016

Making Diagrams to Show the basic Principals of Economics.

Scarcity and Choices Flow Diagram.

We have been learning about how money works and some basic principles of economics; want and need, supply and demand, profit and loss and so on.  The ideas and concepts related to money have been processed and turned into diagrams to represent the ideas.  We have then been teaching others in the class about what we have learnt.  These are some of the diagrams we have made.
Supply and Demand: The larger dollar sign shows increasing cost as the demand increases and the supply diminishes.
Goods and Services:  Sometimes there is a product that also involves a service , like when you but a coffee at Scorchorama.

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