Business Studies · Grade 9 · Business Fundamentals · 1.º Período
Needs, Wants, and the Economic Problem
An introduction to how businesses satisfy consumer needs and wants while navigating scarcity, supply, and demand.
Ontario Curriculum ExpectationsA1.1 describe the difference between needs and wants and identify the ways in which businesses satisfy themA1.2 explain how supply and demand affect prices
About This Topic
An introduction to how businesses satisfy consumer needs and wants while navigating scarcity, supply, and demand.
Key Questions
- What is the difference between a need and a want?
- How do supply and demand affect prices?
- How do businesses solve the economic problem of scarcity?
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