Economy is the method by which we prepare today to afford the improvements of tomorrow.
Emma wants to cook her dinner, but there is no rice at home. She needs to buy some rice from the grocery store. Emma has a demand for rice. What is demand? Demand refers to a consumer’s willingness to pay for a good or service. Assuming that all else is Read more…
Mr. Brown is a fisherman. He goes fishing every day. To catch more fish, he will travel deep into the sea. The risk of facing stormier weather will likely increase at sea. Cresting the waves at the crack of dawn to get the best catch, that is what Mr. Brown’s Read more…
In Homestead town, there is an electricity company. The company provides electricity to the people in Homestead. Their services are necessary to the welfare of the entire community. The company is the only supplier of electricity in Homestead. They can charge whatever rates of electricity to the community. To increase Read more…
Once upon a time there lived two brothers. They were Mason and Michael. They had taken out $100 each to keep in an emergency fund to use for unexpected expenses. They had $200 of emergency funds in total. One day, they went to the playground by bicycle. Suddenly, it started Read more…
Today is Sunday. Mike is going to grandpa’s house. Grandpa is very happy to see him. Grandpa loves to share his life story with Mike. How does inflation work? Inflation occurs when prices rise, decreasing the purchasing power of your dollars. Don’t forget to follow us on Facebook, Instagram, Twitter Read more…
Nancy is a muffin maker. Mila is an ice-cream maker. Nancy loves to eat ice-cream. Nancy visits her friend, Mila. She asks if Mila wants to trade with her. Mila agrees with her. After trading, they can enjoy the delicious food. Nancy trade with Mila to get what she wants. Read more…
Caroline wants to buy a present for her mother. However, she doesn’t have enough money. She sells her toy at the shop for extra money. She earns money to buy a gift for her mom. On Christmas eve, she puts the gift under the Christmas tree. She is very excited Read more…
One day, Bryan wakes up in the morning. He would like to eat pancakes. Making a pancake, Bryan need to do the following: Cut wheat from the farm and turn it into flour. Collect eggs from chicken farm. Milk a cow. Extract sugar cane juice to produce sugar. After getting Read more…
Thomas is eating a cookie. He sees a mouse walking nearby the window. The mouse is very hungry. He wants a cookie. Thomas shares a cookie with the hungry mouse. After eating, the mouse feels thirsty. He asks Thomas for a glass of milk. Then, he wants to read a Read more…
One day, Bessie meet his friend Molly. Bessie wants to look like Molly who has pink body because it is so unique. Bessie goes to the market on next morning. Bessie does not have any money to pay for the deal. So, she needs to produce 150 milk bottles for Read more…