I'm going to China! =))

During the June holidays. With my school. And there's this guy going too. And he's cute.

I don't know anyone going for the trip.

Hope I make some really good and fun friends. =)

Jonnie said he wanted to go too.

I said ok. I'll put him in my suitcase.

Then he went," More like I put you in the suitcase. Easier to carry."

Dang.

I need to watch what I eat.

If not I think I'll be the heaviest flyer in the team.

Then "weak" people like Zackie won't be able to lift me.

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Factors of Production:

Labour- Human resources.
Land- Natural resources.
Capital- Manufactured resources. Inputs that have to be produced in the first place.
Entrepreneurship- Skill resources.

Demand:

- Wants. Virtually boundless. Limited only by people's imagination.

Supply:

- Limited resources

Macroeconomics:

- Concerned with economy as a whole.
- Concerned with aggregate demand and supply.

Aggregate Demand:

- Total amount of spending in the economy.

Aggregate Supply:

- Total amount of national output of goods and services in the economy.

Microeconomics:

- Concerned with the individual parts of the economy.

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