Thursday, February 13, 2014
Say What?
This week we focused on the market economy and the Circular Flow Chart. What is the circular flow chart? Well it is a visualization of all interactions in a market economy. Now that you know what it is lets talk about how we used it this week. Weserville is welcoming three new businesses. To promote our business we used the circular flow chart to explain how the business will work. We also had to say what the incentives of our business would provide. Incentives are benefits that people receive. Most of the businesses offer jobs as their incentive. We learned a lot this week and we had a lot of fun !!!
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same here!! Do you think you got the 100% on your exam?
ReplyDeleteIt was interesting to learn about the factor market, which was a part of our economy that I had never devoted much thought to. The circular flow model is a good way to clearly show how a market economy works. Here's hoping the businesses we voted for will bring prosperity to Weserville!
ReplyDeleteIt was a lot of fun this week! I am hoping that the YMCA takes a great leap in the community. I am skeptical of the Walmart coming in, but I think that, with the knowledge of the circular flow chart, somehow the Walmart will benefit Weserville.
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