1. Business in the U.S. Economy Chapter 5.1 2012

2. Business & the Economy “The business of America is business” - Calvin Coolidge (Patron saint of the Tea Party) “The most important role of businesses is to make and distribute products and services needed by consumers, government, and other businesses” Agree or Disagree?

3. Employment Purchase Good and Services Compensate Owners and Investors Tax Payments *Make and distribute products and services needed by consumers* Roles of Business

4. Video Clips ABC News: The Future of Business The Workforce is Changing Mission Critical Workforce U.S. Economic Changes

5. ABC News: The Future of Business using Technology

6. Mission Critical Workforce

7. The Changing Workforce

8. Employment Data Essential for determining economic and employment trends at various levels Impacted by “baby boomers” 1946-1964 http://money.usnews.com/money/careers/articles/2011/05/06/graph-april- jobs-report-continues-upward-trend

9. Percent of Businesses by Employee Size Source: U.S. Census Bureau

10. Pressures on the Employees Technology streamlined production and introduced cost-cutting procedures –Examples? Wages Work-week hours Opportunities Contingent workers

11. Will the jobs that interest you today be available in 10 years? Do today’s workers have more or fewer pressures on them than workers of the past? Why? ….Round Table….

12. Generating Ideas Raising Capital Employing and Training Personnel Buying Goods and Services Marketing Goods and Services Maintaining Business Records Business Activities

13. Producers –Builders & Product Manufacturers Intermediaries –Retailers and Wholesalers Service Businesses –Dentists, Baby-sitters, Delivery Service Types of Businesses

14. Producer

16. Intermediary

17. Service Business

18. Producer

19. Service Business

20. Intermediary

21. Service Business

22. Producer

24. Intermediary

25. Service Business

26. Producer

27. Intermediary

28. How does a manufacturer differ from an extractor? An extractor takes natural resources, such as oil or timber, for direct consumption or for use in developing other products. A manufacturer takes resources supplied by others and converts them into useable products. ….Round Table….

29. 1.The largest number of U.S. businesses employ ___________ a.More than 100 people b.Between 50 and 100 people c.Between 10 and 20 people d.No employees other than the owner 2. Which of the following is NOT one of the common activities of all businesses? a.Producing goods and services b.Employing and training personnel c.Marketing goods and services d.Maintaining business records 3. A retailer is an example of a(n) __________ a.Extractor b.Producer c.Intermediary d.Service business Share the info… Answer & hand in before leaving please D. No Employees other than the owner A. Producing Goods and Services C. Intermediary