chapter 5.1: supply
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Chapter 5.1: Supply. Objectives. Explain the law of supply. Interpret a supply schedule and a supply graph. Examine the relationship between elasticity of supply and time. Bell Ringer. Divide into groups of 3…instructions to follow: - PowerPoint PPT PresentationTRANSCRIPT
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Goals
Describe the changing status of U.S. employment
Discuss the role of business in the U.S. economy
Describe three major types of businesses
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The Main Idea
This lesson describes changes that have occurred in the U.S. employment and changes in the types and numbers of businesses.
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What do you know about current businesses and the economy?
Pre-Test – With one partner complete the pre-test.
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Partner Activity Partner up! (groups of 3)
Aluminum Foil Activity
– Each student to get 5 pieces of foil
– Create a product out of aluminum foil
– Create a sales pitch to share with the class that highlights your product
– Electronically, create a list of the six basic activities YOU FEEL businesses perform. Save as “6 business activities” in Google drive with your group member’s names
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Employment Data in the U.S.
US Employment Data handout
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Employment Data in the U.S.
What year kicked off the start of the baby boomers?
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Employment Data in the U.S.
In 2014 what percent of jobs are held by women?
Statistics
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What Percent of U.S. Workforce is made up of Contingent Workers?
Contingent workerHas no contract for long-term employment
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Business and the Economy
In 2013, businesses worldwide produced ??? trillion of goods and services.
How many zeros is that?
US responsible for $16 trillion
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Business and the Economy
Put these in order from largest to smallest according to the amount of employees US businesses have:
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Size of Businesses
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Roles of Businesses pg 104
What are the six basic activities that businesses perform?– Generating Ideas
– Raising capital
– Employing and training personnel
– Buying goods and services
– Maintaining business records (Accounting)
– Marketing goods and services (Marketing)
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Interesting article
Go to my wiki, read “9 Careers on the Way Out”
Discuss
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Types of Businesses
Producers
Intermediaries
Service business
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Types of Businesses
Producers- create the products and services used by individuals and other businesses
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Intermediaries
*The most common types of intermediaries are retailers and wholesalers.
IntermediariesBusinesses involved in selling the goods and services of producers to consumers and other businesses
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Coleman Tents (Producer)
Intermediary (Retailer)
Consumer
Producers/Intermediaries example
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Service businessEx:
Dentists, doctors, lawyers, painters, pet sitters
Fastest growing part of the economy.
More than 60% of all U.S. employment is in service-producing
Service businessCarries out activities that are consumed by its customers.
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Dentist(Service business)
You (Consumer)
Services example
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Types of Businesses Activity
With a partner:
Using the internet, in 10 minutes, create three lists (handwritten) of businesses in York County , by organizing them into types. Producers/Intermediary/Service
The team with the most correct businesses wins!
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