Business Production And Consumption

Business Production And Consumption - Transcript

Business: Production and
Consumption
Write On
Grade 3

Learner Expectation
 Content Standard: 2.0
 Globalization of the economy, the explosion of
population growth, technological changes and
international competition compel students to
understand, both personally and globally, the
production, distribution, and consumption of goods
and services. Students will examine and analyze
economic concepts such as basic needs versus
wants, using versus/saving money, and policy
making versus decision making.
 Learning Expectations:
 2.03 Understand fundamental economic concepts.

In this activity you will:
Learn about how our country produces,
distributes, and uses goods and
services.
Write a paragraph to describe how
producers and consumers work
together to create the American
economy.

Our economy is made up of
producers and consumers.

Producer
Producers make and sell products.

In order to produce a good,
producers must have:
Human Resources
Capital Resources
Raw Materials

Human Resources
 Human resources are the people used in
making the product.

Capital Resources
 Capital is the money needed to run a
business.

Raw Materials
 Raw materials are natural resources.
 For instance, cotton is a raw material used in
the production of clothing.

Consumers
Consumers buy products and
services.
When you shop at Wal-Mart, you are
a consumer.

Demand and Supply
 Consumers (shoppers) create a demand for
goods according to their wants and needs.
 The amount of goods offered by a business is
the supply.

Additional Resources
 Click the following button to visit a website
about automobile manufacturing.
 You may also want to visit the “Trade
Museum.”
Click
Here
Click
Here

Additional Resources
 Take the “Robotics Quiz.”
Quiz

Sources
 Houghton Mifflin English
http://www.eduplace.com/graphicorganizer/pdf/flow.pdf
 Harcourt Social Studies
http://www.toyotageorgetown.com/vtour/vtour.asp
http://library.thinkquest.org/3901/janis/superpage.htm?tqskip1=1
http://www.occdsb.on.ca/~proj4632/kidsrobotquiz.htm
Writing
Activity

Writing Activity
Write a paragraph to describe
how producers and consumers
work together to create the
American economy.