Econ: Earn a Living

Earning a Living
We participated in a simulation called Earning a Living. The activity helps us understand the relationship among households and business firms. In the simulation, households sell to business the resources it must have to produce a product. Households use the income they earned from selling resources to buy from business the goods and services their households requires. These goods and services are called ECONOS. You can satisfy all your household needs and desires by purchasing ECONOS, which are the products produced by business. Business firms supply to households the goods and services they desire, and to earn a profit in the process.

Chapter 2 Quiz II (retest) – closes Thursday 9/29



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