Chapter 5.1: Supply

Goals

Describe the changing status of U.S. employment

Discuss the role of business in the U.S. economy

Describe three major types of businesses

5.1

The Main Idea

This lesson describes changes that have occurred in the U.S. employment and changes in the types and numbers of businesses.

5.1

What do you know about current businesses and the economy?

Pre-Test – With one partner complete the pre-test.

5.1

Partner Activity Partner up! (groups of 3)

Aluminum Foil Activity

– Each student to get 5 pieces of foil

– Create a product out of aluminum foil

– Create a sales pitch to share with the class that highlights your product

– Electronically, create a list of the six basic activities YOU FEEL businesses perform. Save as “6 business activities” in Google drive with your group member’s names

5.1

Employment Data in the U.S.

US Employment Data handout

5.1

Employment Data in the U.S.

What year kicked off the start of the baby boomers?

5.1

Employment Data in the U.S.

In 2014 what percent of jobs are held by women?

Statistics

5.1

What Percent of U.S. Workforce is made up of Contingent Workers?

Contingent workerHas no contract for long-term employment

5.1

Business and the Economy

In 2013, businesses worldwide produced ??? trillion of goods and services.

How many zeros is that?

US responsible for $16 trillion

5.1

Business and the Economy

Put these in order from largest to smallest according to the amount of employees US businesses have:

5.1

Size of Businesses

Roles of Businesses pg 104

What are the six basic activities that businesses perform?– Generating Ideas

– Raising capital

– Employing and training personnel

– Buying goods and services

– Maintaining business records (Accounting)

– Marketing goods and services (Marketing)

5.1

Interesting article

Go to my wiki, read “9 Careers on the Way Out”

Discuss

Types of Businesses

Producers

Intermediaries

Service business

5.1

Types of Businesses

Producers- create the products and services used by individuals and other businesses

5.1

Intermediaries

*The most common types of intermediaries are retailers and wholesalers.

IntermediariesBusinesses involved in selling the goods and services of producers to consumers and other businesses

5.1

Coleman Tents (Producer)

Intermediary (Retailer)

Consumer

Producers/Intermediaries example

5.1

Service businessEx:

Dentists, doctors, lawyers, painters, pet sitters

Fastest growing part of the economy.

More than 60% of all U.S. employment is in service-producing

Service businessCarries out activities that are consumed by its customers.

5.1

Dentist(Service business)

You (Consumer)

Services example

5.1

Types of Businesses Activity

With a partner:

Using the internet, in 10 minutes, create three lists (handwritten) of businesses in York County , by organizing them into types. Producers/Intermediary/Service

The team with the most correct businesses wins!

5.1