Lesson 1 of 84 · Economics
⭐ 30 XP⚓ Market PortNeeds vs. Wants
Economics studies how people, businesses, and governments make choices about using limited resources to satisfy unlimited wants.
🎯 Your mission
Spot the cost behind the price.
⚡ The twist
Trade isn't just stuff — it's ideas, words, and germs.
Mind = Blown
🤯 The first stock exchange was in Amsterdam in 1602 — for spices.
Then & Now
💱 This is happening in your local store every single day.
Economics studies how people, businesses, and governments make choices about using limited resources to satisfy unlimited wants.
Key Facts
Needs are different from wants.
Supply and demand affect prices.
Trade connects people globally.
Check Your Understanding
Question 1
1 of 2What is the difference between needs and wants?
Why this still matters
The next time you spend $1, ask: who else benefited besides you?
Stretch Challenge
Try this in real life this week.
Find two products that look similar but cost very different. Why?
For the dinner table
“If you had $20 to start a business, what would you sell?”
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