Economics is a social science that studies how people, acting on their own and in groups, decide to use scarce resources to satisfy their needs and wants.
Our economy has a major influence on our lives. It affects where and how we live, and in some ways how long we live. Now more than ever, with our economy in flux, it's important to understand the economic system that makes our country run and how it affects our quality of life. The COVID-19 pandemic has cracked open daily life as we know it in a way that allows us to see how an economy functions; economics provides explanations for what we are seeing.
This site will help you understand the U.S. economy and how a crisis affects fundamental principles, including:
Supply and demand
The content is based on JA Economics, a powerful economics textbook from Junior Achievement. JA has 100 years of knowledge and experience teaching financial literacy and has trained generations for career success and entrepreneurship.