Economics Song: Economy for You and Me
Economics Song: Economy for You and Me (Lyrics)
Communities have wants and needs
That’s why they’ve got economies
Buying selling every day
Sometimes even making trades
Communities have wants and needs
That’s why they’ve got economies
Money here, money there
Making sure the price is fair
Goods are the things we make to buy and sell
Like a skateboard or a doll
Clothes are goods and so are snacks and even a basketball
Services are things that people do. Like teaching or cleaning the school
A firefighter serves and so does nurse and the lifeguard at the pool
Some people use bartering to get what they need
if you give me one of those I’ll give you two of these
Trading works, too when you both agree
But if you want to buy it, you’ll need some money
Scarcity means there aren’t enough
The resources are too low
But with a surplus there are more then enough
So let the goods and services flow
We’re producers when we make it
Consumers when we take it
We’re producers when we do it
Consumers when we use it
Doing business means we understand the basic law called supply and the demand
Supply is how much the seller can provide
Demand is how much the buyers want to buy
When supply’s high the price can go low
When supply’s low the price could start to rise
When supply’s high the price can go low
When supply’s low the price could start to rise
Opportunity cost means there’s a price to pay if you want your business to profit
Good product and great service can put some money in your pocket
And when the pay day comes it really should be enough to pay for all the things
All the things we really need to make a nice life for our families
Communities have wants and needs
That’s why they’ve got economies
Buying selling every day
Sometimes even making trades
Communities have wants and needs
That’s why they’ve got economies
Money here, money there
Making sure the price is fair