Theme 3b - The Economy and the Environment

The Economy - it’s all about buying and selling

The economy is made up of people trading goods and services for money

The economy works when someone has something someone else wants

Some people barter but normally money is handed over

The economy is split up into the public and private sector

The Public Sector – Things like the army, police force and schools and hospitals – They are owned by the government and paid for with taxes for the benefit of everyone

The Private Sector – Owned by private individuals – Funded privately and for the benefit of the owner

Private businesses drive the economy

-       Privates businesses boost…