Paul Holmes -
University
English Professor

Free Materials For ESL Teachers and Learners

“Economics” ESL Discussion Questions

I. Basic Economic Concepts
1. What is economics?
2. Can you name two types of economics?
3. What does an economist do?
4. What is the difference between needs and wants?
5. What is money?

II. Personal Economics
6. How do you earn money?
7. What do you spend your money on?
8. How do you save money?
9. What is a budget?
10. Why is it important to save money for the future?

III. Work and Income
11. What kinds of jobs are common in your country?
12. How do people find jobs?
13. What is a salary?
14. What does minimum wage mean?
15. How can a person increase their income?

IV. Goods and Services
16. What are goods?
17. What are services?
18. Can you give an example of a good and a service?
19. How are prices for goods and services decided?
20. Why do some things cost more than others?

V. Supply and Demand
21. What is supply?
22. What is demand?
23. How does supply and demand affect prices?
24. Can you think of a product that is in high demand?
25. What happens when there is too much supply?

VI. Markets and Trade
26. What is a market?
27. Why do countries trade with each other?
28. What is an import?
29. What is an export?
30. Can you name a famous marketplace?

VII. The Role of Government in Economics
31. What economic decisions does the government make?
32. What are taxes?
33. Why do we pay taxes?
34. What is government spending?
35. How does the government help people who are unemployed?

VIII. Global Economics
36. What is the global economy?
37. How does a country’s economy affect other countries?
38. What is currency exchange?
39. Why do currencies have different values?
40. What is a global company?

IX. Financial Institutions
41. What is a bank?
42. Why do people use banks?
43. What is interest?
44. What are loans?
45. How do you open a bank account?

X. Economic Challenges
46. What is inflation?
47. How does inflation affect buying things?
48. What is poverty?
49. Why is there unemployment?
50. How can a country improve its economy?

XI. Economic Systems
51. What is capitalism?
52. What is socialism?
53. How are communism and capitalism different?
54. What is a mixed economy?
55. Which economic system does your country have?

XII. Personal Reflection on Economics
56. How does the economy affect your daily life?
57. What do you think is the biggest economic problem in the world?
58. How can young people learn about economics?
59. What role do you think money plays in happiness?
60. What would you do to improve the economy in your country?