In dedication to my family

This book was created and published on StoryJumper™

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Once lived a princess. She just started taking classes on economics because she will have
to start ruling her country soon

Then, a bird comes and asks her whats wrong. She says, "I don't
understand economics. The bird says, "Well let's go over the basics."

All businesses have scarcity and scarcity always exists.
It is when there are limited quantities of resources to meet
unlimited needs or desires.

There is not enough food for our
families. We will take it.

That's not fair!

"Well how will the people get these necessities?", asked the princess. "I was just about
to get there," the bird replied, "There are 3 factors of production: capital, land and labor. Labor
people working, land is natural resources, and capital is human made resource that is used to
create other goods and services."

We used shovels to get the watermelons.
We get $5 for each one. We help get watermelons
for people.

"Right now, you are an example of a trade-off. A trade-off is when we choose
one course of action over others. Your parents decide to have you so someone
can rule their kingdom. But every economists must ask the three important questions:
What? How? And for Whom? Based on our economy we answer these questions based
on their values." , continued the bird.

One economic goal we have is growth and innovation.
We believe that innovation leads to economic growth
and economic growth leads to higher standard of living.

With the invention of
the wheel we have carts now
transport goods

All of us have freedom of choice. We have the choice what
to make and what we can buy without discrimination.

I can buy what I want

Me too!

For everyone to be happy there are some externalities.Such as better environment
and public health.

They cleaned up the place now
it's all better.

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In dedication to my family

This book was created and published on StoryJumper™

Publish your own children's book:

www.storyjumper.com

Once lived a princess. She just started taking classes on economics because she will have
to start ruling her country soon

Then, a bird comes and asks her whats wrong. She says, "I don't
understand economics. The bird says, "Well let's go over the basics."

All businesses have scarcity and scarcity always exists.
It is when there are limited quantities of resources to meet
unlimited needs or desires.

There is not enough food for our
families. We will take it.

That's not fair!

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"Basics of Economics: For Kids"

jruiz0863

A princess learns about economics from a bird, covering topics such as scarcity, factors of production, trade-offs, economic goals, freedom of choice, and externalities.

(15 pages)

Privacy level: PUBLIC

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