Economics in Georgia Standards E1 – E5

SS8E1 The Student will give examples of the kinds of Goods & Services produced in GA in different historical periods. Pre-History & Colonial Period Pre-History & Colonial Period Mississippian Indians: Agriculture (maize, beans, gourds) Mississippian Indians: Agriculture (maize, beans, gourds) Colonials: Agriculture (rice, indigo, tobacco, cotton), Livestock, Lumber Colonials: Agriculture (rice, indigo, tobacco, cotton), Livestock, Lumber Antebellum Period: Antebellum Period: Agriculture (Cotton, tobacco, cotton, cotton, cotton, and cotton) Agriculture (Cotton, tobacco, cotton, cotton, cotton, and cotton) Attributed to the invention of the Cotton Gin Attributed to the invention of the Cotton Gin Civil War & Reconstruction Civil War & Reconstruction Agriculture (COTTON) Agriculture (COTTON) Manufacturing (textiles & weapons) for the war effort & rail lines Manufacturing (textiles & weapons) for the war effort & rail lines Reconstruction: Agriculture by Sharecroppers & Tenant Farmers Reconstruction: Agriculture by Sharecroppers & Tenant Farmers New South New South Naval Stores Industry Naval Stores Industry Textile Industry Textile Industry Agriculture Agriculture Coca Cola Coca Cola Depression Era Depression Era Boll Weevil & Drought negatively impacted Agriculture Boll Weevil & Drought negatively impacted Agriculture Delta Airlines established in ATL Delta Airlines established in ATL Georgia-Pacific paper products company established Georgia-Pacific paper products company established World War II World War II Manufacturing: Bell Bombers & Liberty Ships Manufacturing: Bell Bombers & Liberty Ships Agriculture begins to rebound Agriculture begins to rebound Postwar Georgia Postwar Georgia Agriculture (diversified crops: pecans, peanuts, cotton, peaches Vidalia Onions) Agriculture (diversified crops: pecans, peanuts, cotton, peaches Vidalia Onions) Leader in Shrimping, Cattle & Poultry industries Leader in Shrimping, Cattle & Poultry industries Home Depot, Chick-fil-A, AFLAC, UPS, Waffle House Home Depot, Chick-fil-A, AFLAC, UPS, Waffle House Manufacturing: Lockheed-Martin, KIA Manufacturing: Lockheed-Martin, KIA Tourism Tourism Film Industry “Hollywood of the South” Film Industry “Hollywood of the South”

SS8E2 The Student will explain the benefit of free trade How did Georgians engage in trade in the different time periods mentioned in the previous slide? What are the 4 Transportation Systems in Georgia, and how do they contribute to our role in trade? What do the Transportation Systems interact to provide? ???

SS8E3 The Student will evaluate the influence of Georgia’s economic growth & development Entrepreneur A person who takes a risk by investing in/establishing a business opportunity. Seeking a profit Profit The amount of revenue remaining after all overhead costs have been paid. Overhead: Rent, Pay for employees, supplies… Some Georgia-Based Businesses

SS8E4 The student will identify revenue sources for and services provided by state and local governments Sales Taxes 2 nd largest source of state income Important income for local & county governments State sales tax is 4% Counties add to the taxes to generate revenue for services Personal Income Taxes Largest source of state income Graduated tax system The more you make, the more taxes you pay Property Taxes Based on ownership or possession of property, tax based on market value of property Federal Grants Awards of financial assistance from a federal agency to carry out a public purpose Ex: 2010 – Congress approved $234 million dollars for Georgia’s Medicare program and $322 million for education

It’s your turn to answer the questions! You have 4 minutes to answer the 4 questions… GO!!!! GO!!!!

SS8E5 The student will explain personal money management choices in terms of income, spending, credit, saving, and investing. Term Income Spending Credit Saving Investing Definitions A.An amount of money loaned to a person that must be paid back along with additional interest. B.The amount of money a person earns during a year. C.Using money in hopes of gaining more in the future by lending to businesses in exchange for a share of profits. D.The amount a person purchases. E.Setting aside of income for future use.

WE ARE FINISHED… ALL STANDARDS HAVE BEEN COVERED!!!! THE REST IS UP TO YOU!!!!!!