Production, Distribution, and Consumption

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Production, Distribution, and Consumption. KCCT Coach Book Chapter 11. Producers and Consumers. a PRODUCER is a person or organization that creates goods or provides services examples: farmers produce crops, plumbers produce plumbing services, bankers produce financial services - PowerPoint PPT Presentation

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<ul><li><p>Production, Distribution, and ConsumptionKCCT Coach BookChapter 11</p></li><li><p>Producers and Consumersa PRODUCER is a person or organization that creates goods or provides servicesexamples: farmers produce crops, plumbers produce plumbing services, bankers produce financial servicescan you think of other examples of producers?</p></li><li><p>Producers and ConsumersProducers that create physical goods sell their products to DISTRIBUTERS such as retail and wholesale outletsthese outlets then sell their products to CONSUMERSa CONSUMER is a person who buys GOODS and SERVICES</p></li><li><p>Producers and Consumerswhen a CONSUMER is planning on buying something, two factors go into her decision: PRICE and QUALITYGenerally, consumers will compare PRICES and choose the least expensive item (if the quality is the same)</p></li><li><p>Producers and ConsumersQUALITY is also importanthow well the item is made and how long it will lastThe consumer will consider the PRICE and QUALITY of services too, when making an economic decisionbefore hiring someone for a SERVICE, the CONSUMER will often ask for an ESTIMATE (a projection of the cost)what could you get an ESTIMATE for?</p></li><li><p>Joe bought a LynkCo brand watch from Bobs Watch Emporium and gave it to his girlfriend, Tina. Who is the producer?JoeTinaLynkCoBarrys Watch Emporium</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>If you were planning to purchase a new pre-packaged computer system, you would want to do which of the following?ask the consumer for an estimatereview the service warrantylook for the most expensive pricecontact the salesperson about the computer she built</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>Sources of Goods and Serviceswhen you think about producers you probably think of MANUFACTURERShowever, the government is also a PRODUCERthe government offers goods and services such as police forces, fire fighting departments, education, and food surpluses</p></li><li><p>Sources of Goods and Servicesin the case of the government as a producer, the consumer is the general publicthe goods and services are bought with TAXESTAXES are monies paid to the government to fund its operation</p></li><li><p>Sources of Goods and Servicesprivate businesses also offer goods and services similar to those provided by the governmentPolice vs. security guardspublic schools vs. privatefood surpluses vs. grocery stores</p></li><li><p>Sources of Goods and Servicesthe main difference between government and private services is the reason for providing the goods or services and the people that benefit from the goods or servicesthe governments purpose is to meet the peoples needsthe private businesss purpose is to make a profit</p></li><li><p>Sources of Goods and Servicesthe people that benefit from the governments public services are members of the publicHow do you benefit from public services?</p></li><li><p>Which of the following is provided by the government?plumbing servicesvoluntary surgerytelevision setssewage treatment</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>Private businesses are paid for their goods and services primarily by:the publictaxesprivate individualsgovernment</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>Specialized producersMany producers create a wide variety of products designed to meet the needs of many peoplesome producers SPECIALIZE. this means they create only specific goods or services designed to meet specific needsone producer may make bath soap, laundry detergent, car cleaner, sponges, brooms, and paper towels, while a producer that SPECIALIZES would only make one product</p></li><li><p>Specialized Producersproducers that specialize do so for several reasonstheir product can be the best it can be, because all the focus is on itthe producer can develop a good reputation by producing a great productsome needs are so specific, that only a company that specializes can meet that need</p></li><li><p>Which of the following businesses is the most specialized?Andys BicyclesBobs Tubs and StuffCindys Department StoreDees Dresses, Doughnuts, and Duck ponds</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>By specializing, producers do all BUT which?provide a higher quality productoffer a vast selection for consumerswork to build a solid reputationmeet a very specific need</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>Which producer provides legal services?plumberbakerattorneymanufacturer</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>A company manufactures clocks by the thousand. The clocks are sold to individuals by:consumersdistributorsmanufacturersthe government</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>The two primary concerns for consumers when they make a choice are:price and qualityprice and colorcolor and qualityprice is the only concern</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>The consumers of goods and services provided by the government are:private individualsthe publicgovernmentdistributors</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>Which of the following is a service provided by a private business?fire departmentssecurity guard servicepublic schoolingpolice departments</p><p>123456789101112131415161718192021222324252627282930</p></li><li><p>Which business is most specialized?Sals Sporting Goods storeLous ShoesTulas Department StoreMalcolms Anything for a Buck</p><p>123456789101112131415161718192021222324252627282930</p></li></ul>

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