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Chapter 5.1: Supply. Objectives. Explain the law of supply. Interpret a supply schedule and a supply graph. Examine the relationship between elasticity of supply and time. Bell Ringer. Divide into groups of 3…instructions to follow: - PowerPoint PPT Presentation
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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