We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
supports HTML5 video
Published byVictoria Wood
Modified over 4 years ago
Second Grade EconomicsBy: Barbara Peters Resources - SOL 2.7 Bartering - SOL 2.8 Scarcity - SOL 2.9
People help the economy by purchasing “goods” and “services.”
Goods are things that we buy that we can use or touch.
Services are jobs that workers do for other people.
Producers and ConsumersSome people provide goods and services, while others use goods and services.
Producers are people who make goods or provide services.
Consumers are people who use goods and services.
Money Money is coins, paper bills, and checks used in the exchange for goods and services.
Kinds of Money Paper bills coins checks
Bartering is the exchange of goods or services without using money.
Resources A resource is something that is used in order to meet a need or a want.
Kinds of Resources NaturalHuman Capital
Materials that come from nature are called natural resources.
Human Resources People who work to produce goods and services are called human resources.
Capital Resources Goods made by people and used to produce other goods and services are called capital resources.
When all wants cannot be met at the same time, there is a scarcity.Limited Resources When all wants cannot be met at the same time, there is a scarcity.
Scarcity If there is a forest fire, a toy factory will not be able to get the wood it needs to make wooden trains. There is a scarcity of wood from which the trains are made.
there will be a scarcity of wooden toy trains at the toy store.Therefore . . . there will be a scarcity of wooden toy trains at the toy store.
Making an Economic ChoiceWhen people don’t have enough money, they have to make an “economic choice” and decide what to buy.
If you only had $10.00, which toy would you choose?$ 9.49 $ 8.95 What will be your “economic choice?” The other item you cannot afford to buy is your “opportunity cost.”
or . . .
Would you save your money . . .
for something bigger?
WHAT IS AN ECONOMY?.
4th Grade Social Studies Ch. 1: Lesson 2-4
ECONOMICS “The Study of Money”
Unit 4 4th Grade Social Studies Vocabulary
Click here to begin! Click here to begin!. Definition: things in nature that people find useful economics Natural resources economy Click here to go to.
Section Outline 1 of 8 Money and Banking Section 1: Money I.The Functions of Money II.The Characteristics of Our Money III.The Value of Our Currency Color.
Acquiring Goods and Services Using Barter and Money SOL 2.8 Review.
Warm Up 1.What is economics? 2.What do economics do?
Economics 1.1 Making Choices.
Lesson Objectives: By the end of this lesson you will be able to: *Explain why scarcity and choice are the basis of economics.
What does barter mean? These days people usually use money to get what they want. Before there was money, people had to barter to get what they wanted.
Personal Economics. Money vs. Currency Money: something that people will accept in exchange for goods or services. Currency: the part of the money supply.
Economics 6th Grade.
What is Economics? n Economics is the study of how people choose to use resources n Everyone has basic needs and wants: a need is something necessary like.
Economics SOL 3.7 SOL 3.8 SOL 3.9 SOL 3.10 Exchange To trade one thing for another. Example: I want to trade in my green disk for a blue one. Barter.
Economics is the study of why people make one choice rather than another when buying and selling, spending and saving.
Economics Vocabulary Chapter Factors of Production Human Resources – any human effort exerted during production. The effort can be either physical.
Second Grade Economics. Resources The United States is a very wealthy nation. One reason for its wealth is its many resources.
© 2018 SlidePlayer.com Inc. All rights reserved.