The Incredible Econ

 
The Incredible Econ

Incredible.., Incredible.., Incredible.., Incredible…
Incredible.., Incredible.., Incredible.., Incredible…

Gonna tell you about Econ
How he came to see,
If he could teach us all about our economy.

Economics is easy
When you do it his way,
When you learn all the words,
It's a game you can play.

Econ, Econ…
Gonna tell you 'bout
Econ, Econ.

When resources are "scarce"
And you have to choose.
You have to make good "choices"
Or you're gonna lose…

You have to weigh all the pros
You have to weigh all the cons
Use your decision tree to help you,
It's a lot of fun…

Econ, Econ…
Gonna tell you 'bout
Econ, Econ.

When you have to make a choice,
There's always something that's tossed.
The most important thing to go's your
"Opportunity cost".

I say, when "scarcity" occurs,
You can't just pass the buck…
I mean, you have to make a choice,
And give something up.


Opportunity cost.., Opportunity cost..,
Opportunity cost.., Opportunity cost.
Opportunity cost.., Opportunity cost..,
Opportunity cost.., Opportunity cost.

Now, we're all "consumers",
And there're things we use.
I say, we're all "consumers".
Help us spread the news…

We use our "limited income"
For our "wants" and our "needs".
We buy the "goods". We buy the "services".
They're sure to please.

Sure to please.., Sure to please..,
Sure to please.., Sure to please.

But when our "income's" too "scarce",
For what we want to "consume",
Then we save that "income"
Until our savings go, "boom"!

Oh yes, we save our "income"
For the things we want most.
We do it Econ's way,
And now we're here to boast…

Econ, Econ…
Gonna tell you 'bout
Econ, Econ.

But when "consumption" is high,
Then people want to "produce…"
To make new "goods" and "services"
For others to use.

"Production" starts with resources
That "producers" combine…
To make the things that we want,
To make them at the right time.

At the right time.., At the right time..,
At the right time.., At the right time.


Now, some resources are "natural",
Like minerals and land…
And some resources are "human",
Give 'em all a big hand.

Here's to our health and our strength…
Our education too…
And to the skills that we develop
To see us through.

Econ, Econ…
Gonna tell you 'bout
Econ, Econ.

When we combine resources
To produce something new…
We get a different "good" or "service"
To see us through.

And when "production" is up,
Because, "consumption" is high,
Then we depend on each other
Econ! Tell us why!

Tell us why.., Tell us why..,
Tell us why.., Tell us why.
Tell us why.., Tell us why..,
Tell us why.., Tell us why.

Well, my name is Econ,
And I'm here to see
If I can teach you all about
Your economy.

And when "production" is up
Because "consumption" is high,
We have to count on one another
To get us by.

When I depend on you
And you depend on me,
Then we can all be better off
In our community

 

I say, we'll all be doing
Things that we do best.
Because we "specialize",
We get to sell the rest.

Sell the rest.., Sell the rest..,
Sell the rest.., Sell the rest.

And when we sell our goods
And sell our services too,
"Interdependence" occurs
And that can see us through.

Cause I depend on you
And you depend on me.
We're each producing
With our own specialty.

Specialty.., Specialty..,
Specialty.., Specialty.
Specialty.., Specialty..,
Specialty.

Well, his name is Econ
And he came to see
If he could teach us all about
Our economy.

Economics is easy
When you do it his way.
When you learn all the words,
It's a game you can play.

Econ, Econ.
Gonna tell you 'bout
Econ, Econ.

Now, you can't always see him;
He disappears in this air.
But, have an economic problem
And he'll be right there.

And when our song has ended
And we're done with this show,
You'll still have Econ walking with you
Wherever you go.

Economics is easy
When you do it his way.
When you learn all the words,
It's a game you can play.

Econ, Econ.
Gonna tell you 'bout
Econ, Econ.

Econ, Econ.
Gonna tell you 'bout
Econ, Econ.

Econ, Econ.
Gonna tell you 'bout
Econ, Econ.

Econ, Econ.
Gonna tell you 'bout
Econ, Econ.

Econ and Me was developed by the Agency for Instructional Technology, the Canadian Foundation for Economic Education, the Joint Council on Economic Education (then, National Council on Economic Education), 1/2009 Name changed to Council for Economic Education (CEE) and a consortium of state and provincial educational agencies, May 8, 1989 All rights reserved. Direct all inquiries to AIT, Box A, Bloomington IN 47402 Phone: 800-457-4509 or 812-339-2203