Economics Explained So You Can Understand It

Finish Well Homeschool Podcast, Podcast #117, Economics Explained So You Can Understand It, with Meredith Curtis on the Ultimate Homeschool Podcast Network

Economics Explained So You Can Understand It

In “Economics Explained So You Can Understand It” episode #117, Meredith Curtis explains what economics is in very simple terms so even the most economic-phobic teen or adult can understand. GDP/GNP, Macroeconomics, and microeconomics will make sense to you now. Get rid of intimidation! You can understand economics! Meredith believes that understanding economics is a blessing, especially when we understand biblical principles and apply them to our lives.

 

 

 


Powerline Productions Chalkboard Ad

Powerline Productions, Inc.

Bringing Homeschool Joy to Families Everywhere!

 

 

 


Show Notes

So many people I meet feel intimidated by economics. Why is that?

What Economics Is

Economics is the study of the production, distribution, and consumption of goods and services according to Webster’s dictionary.

Goods.

Services.

The dollar bill in your purse.

Economics

  • What people make and do and how those things are sold
  • Studying how, why, and where money goes
  • Who ends up with what and how it gets there

Macroeconomics

The big picture

Economic Systems

  • Command (Government controlled like socialism, communism, fascism)
  • Free Market (People controlled, capitalism)
  • Mixed

What is happening in the world that makes people buy more stuff?

Flow & Distribution of Wealth

Supply & Demand (Big Picture)

Microeconomics

Consumer Behavior

Business Behavior

Production Cost/Customer Willing to Pay/Sweet Spot

GNP/GDP

Economics looks at how people get what they want, who gives it to them, how they get it, and how much they get.

GNP (Gross National Product) or the GDP (Gross Domestic Product)

Total amount of all the good and services that are sold.

Economic Cycle

The economy goes in cycles of growing and recessing. This cycle, if not tampered with, is natural and normal. People go through seasons of spending and saving. A healthy economy has seasons of expanding and decreasing flowing gently from one to another. We will talk more about this cycle next time.

Teaching Economics In High School

Say good-bye to dry boring textbooks!

  • Biblical economic principles for real life!
  • Read Living books and conversational textbook to learn economics
  • Apartment Project and other hands-on experiences
  • Purchase Stock
  • Budget
  • Plan for College
  • Choose a Career
  • Make a Business Plan
  • Start a Business

Sign up for our Newsletter

100 Homeschool Hacks by Meredith CurtisSign up for our newsletter and get your copy of 100 Homeschool Hacks. You can sign up here.

 

 

 

 

 

 

 

Resources for Economics & Homeschooling High School

Our one-credit high school courses use conversational text, living books, hands-on learning, and projects that prepare teens for real life! Enjoy!

Economics, Finances, and Business Economics, Finances, and Business Answer Key HIS Story of the 20th Century by Meredith Curtis HIS Story of the 20th Century: High School Workbook by Meredith Curtis
American Literature & Research British Literature & Writing High School Class Communications 101:Essays and Speeches High School Class Foundations of Western Literature by Meredith Curtis
Real Men 101: Godly Manhood Real Men 102: Freedom, Courtship, Marriage, & Family Real Men 103: Leadership Who Dun It? Murder Mystery Literature and Writing High School Class
God's Girls 101: Grow in Christ God's Girls 103: Courship, Marriage, and the Christian Family High School Class God's Girls 104: Motherhood by Meredith Curtis God's Girls 105: Homemaking by Meredith Curtis

More Podcasts You Might Find Helpful

Finish Well Podcast #018, Exploring Careers in Business and Rescue with Meredith Curtis on the Ultimate Homeschool Radio Network Finish Well Podcast #027, Exploring Careers in Real Estate & Pools with Meredith Curtis on the Ultimate Homeschool Radio Network Finish Well Radio, Podcast #024, Link Between Literature and Political Freedom Finish Well Podcast #037, Shine for Jesus in the Business World with Meredith Curtis on the Ultimate Homeschool Podcast Network

Speak Your Mind

*

Get your FREE Character Planner and Printables!