Economics is Everywhere
Explore the economic concepts of scarcity, specialization, resource allocation, and banking through the movie. Learn about the buying and selling of stocks and the operation of the financial system.
Economics is Everywhere
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Presentation Transcript
ECONOMICS IS EVERYWHERE By Olivia Reid and Cialann Carney
ECONOMIC CONCEPT The movie deals with the buying and selling of stocks. It teaches us how the stock market works and the risk and luck involved in purchasing stocks
ECONOMIC CONCEPT An economic concept present in this film is scarcity. The factory owner, Willy Wonka, gave out only five tickets in the millions of chocolate bars. There was never enough tickets to satisfy all those who wanted one, therefore creating scarcity and a higher demand for the product.
ECONOMIC CONCEPT It discusses specialisation and division of labour. Each of the districts in the film specialises in the production of different products for the Capital. Which also leads to discussion on how resources are allocated and different economic systems.
ECONOMIC CONCEPT It explains how banks operate, earn money, and protect wealth. It portrays how the financial system operates. It is concerned with investment "If you invest your tuppence wisely in the bank, safe and sound soon that tuppence, safely invested in the bank, will compound"
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