Economics Lyrics

By Common Core

Economics

Play Economics Beat
Print Economics Lyrics
Print Economics Class Handout

Economics is supply and demand
If I have something you want, I’m in command
I can raise the price until you wave your hands
Shake your head and take a mental stand
You gotta think, “Is it a want or a need?”
You can live without wants, they are extra things
Like iPhones, purses, and big TV’s
They are nice to have, but not necessities
Things you can’t live without are called needs
Air to breath, food to eat, water to drink
Which takes me back to when I said, “You’ve got to think”
Let’s say we’re in the desert in tremendous heat
No stores for miles, no shoes on your feet
Twenty dollars in your pocket, your body is weak
I find you lying in the sand and show you a drink
You ask how much, I ask “How much do you need?”

Demand up, supply down
Prices rise, people frown
Demand down, supply up
People smile when they see the price drop
That’s the market, that’s economics
Stores need consumers, they buy products
A product is made by a producer
Current demand affects price in the future

Import, export, two types of shipments
The direction of the ship makes the difference
If a ship brings goods to your country
That’s an import, it costs you money
If you send resources to a foreign place
That’s an export, they put money in your bank
Resources are goods, materials, and supplies
Things people want or need and are willing to buy
If resources are low, the price is high
When demand is up, it shrinks the supply
Now you have to decide to spend or save
Get it now and pay more or wait a few days
I say unless it is an emergency
Be patient and save your currency
Buy low, sell high, control the quantity
Now you’re an expert on the economy

Demand up, supply down
Prices rise, people frown
Demand down, supply up
People smile when they see the price drop
That’s the market, that’s economics
Stores need consumers, they buy products
A product is made by a producer
Current demand affects price in the future