The market economy(Market and prices)

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The market economy(Market and prices)

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  1. The market economy(Market and prices)

    Slide 1 - The market economy(Market and prices)

    • By: ryan craig & violet martinez
  2. Consumers, Producers, and the Market ​

    Slide 2 - Consumers, Producers, and the Market ​

    • •éconsumer is someone who buys goods and services for his or her own personal use​
    • •A producer is someone who makes goods or offers services to others​
    • •In a Market Economy producers are free to decide what to produce, and consumers are free to buy what ever they want or need​
  3. Supply and Demand

    Slide 3 - Supply and Demand

    • Supply and Demand is when there is a resource with a limited supply
  4. Markets and Prices​

    Slide 4 - Markets and Prices​

    • •Markets and Prices is where buyers and sellers exchange goods and services on the open market. But the market forces of supply and demand determine what prices will be​
  5. Slide 5

    • Example of Markets and Prices
    • •An oil refinery has high supply of gasoline. Along with that it’s the time of year when people are in high demand and need gasoline for transportation. So gas prices are lowered and then more product is sold​