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Full Description
Economics provides an easy-to-understand explanation for children about the economy, its impact on our daily lives and how it affects society.
Where does economics come from? Why do we use it? And how can it affect the world around us? As part of the My World series, Economics is a book designed to provide an easy-to-understand explanation about the complex world of economics that children may often hear about on news whenever the topics of 'inflation' and the 'rising cost of living' are mentioned.
This book concisely explains what basic economic ideas and theories are, how economic activity affects our everyday lives and how our societies and the wider world are shaped by its structures and rules. From car boots sales to large global businesses, this book explores how economic theories help to explain not only how we act as earners, savers and consumers, but also how places like schools and hospitals are run.
Accompanied by colourful and characterful illustrations, the subject of economics is regarded in the simplest, most objective way possible, so that children have all the information they need to understand the world around them and the role economics plays within it.
Contents
Introduction 4
What is economics? 6
Surplus 7
Money 8
Coins 9
Trade 10
Banknotes 11
The gold standard 12
Trust 12
Printing money 13
Inflation and deflation 13
Currencies 14
Money is information 15
Cryptocurrency 15
Creating money out of nothing 16
Things we can do in a bank 20
Markets 22
Profits 22
What are things worth? 23
How market prices change 24
Competition and monopolies 25
Capitalism 26
Salaries 28
Income and expenses 28
Savings and debt 29
Countries 30
GDP 31
The role of the state 32
Multinationals and globalization 34
Investing 36
Investments 37
Shares 38
Bonds 40
Other investments 41
The stock exchange 42
Crisis and recession 46
1929 crash and the Great Depression 48
The tulip bubble 49
Poverty and inequality 50
Responsibility 52
Glossary 54
