economy of the south
TRANSCRIPT
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The South
Resources and EconomyWhat snacks do you like?
Some people enjoy chicken wings. Others like peanut butter or orange juice. The raw materials for these
products are grown in the South.
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Production in the South
Southerners use resources to produce goods and servicesExample: They use water moving through dams
to make electricity.Dams show how natural, human, and capital
resources work together. In this case, water, people, and machines work together to produce electricity. The Tennessee Valley Authority has 29 dams that make power.
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Goods and Services from Natural Resources
Rich Soil = cotton fabric, orange juice, peaches, pecans, peanuts
Waterways = fish sticks, sea salt, boating, water power
Warm Climate = amusement parks, golf, vacation hotels
Oil and Gas = gasoline, plasticsCoal Deposits = coal, electricityForests = paper, lumber
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Producers and Consumers
Producer: someone who makes or sells goods or services for consumers
Consumer: someone who buys or uses goods and services
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Producers and Consumers Continued…
People can be BOTH producers and consumers.Example: A manufacturer in North Carolina
produces chairs. Before making a chair, the manufacturer will consume, or buy, wood, glue, and labor. The manufacturer is both a consumer and a producer.
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Producers and Consumers Continued…
The South has many resources that producers can use to make products.
People grow more peanuts, cotton, rice, and sugar cane here than any other region
Coal and oil lie below the ground.Fish and shellfish live in the waters.
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Producers and Consumers Continued…
Example of producers:Texas produces nearly 5,000,000 bales of raw
cotton. In other southern states, textile mills spin the
cotton to produce cotton yarn.Other manufacturers use the yarn to produce
cloth, t-shirts, towels, and other cotton products.
What factors of production are needed to create cotton t-shirts?
-Rich Soil
-Cotton plants
-Workers in textile mills
-T-shirt manufacturers
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The Diverse Economy
FarmingManufacturingService IndustriesCoal MiningTourismGovernment
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Farming
Texas, North Carolina, Georgia, and Florida rank in the top ten states for farm income.RiceCottonTobaccoSugar CaneOrangesChickensHogsCattle
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Manufacturing
North CarolinaTextile Mills (cotton industry) employ 75,000
people.Make yarn, cloth, carpets, and rugs
Alabama, Arkansas, and GeorgiaMillions of acres of forest provide jobs in lumber
and paper industries
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Coal Mining and Oil
West Virginia, Kentucky, and TexasCoal helps create power and energyThousands of people work in the oil industry
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Aerospace
Texas and Florida rank in the top four states
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Tourism and Service Industries
Many people visit southern states for vacations
One of the leading service industries in the South is ground and air transportation
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Making Economic Choices
Consumers decide whether or not to buy something.
Producers try to provide goods and services that consumers will want to buy.They also choose which resources to use and set the
prices for their goods and services
Scarcity affects prices If there is a scarcity of something, the price goes up!
Opportunity Cost: what someone gives up to get something else
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Government
Hundreds of thousands of southerners work for the government.U.S. GovernmentMilitary
Most live in Texas, Virginia, and Florida
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Lesson Summary
ProducersUse resourcesMake choicesCreate goods and services for consumersCan also be consumers