Economics in the U.S.

Producing, Consuming, Exchanging, investing,

Specializing

Who are producers?

–People who make things.• Chefs• Carpenters• Farmers• Artists

Who are consumers?

– Consumers use things.• Shoppers• Child in a candy store• People in a restaurant

What is Exchanging?

• Trading, bartering

What is Investing?

• Giving of time or money to get something as a future return.

– Depositing money in a savings account

What is Specializing?

• Specializing is working on one topic.

Chefs specialize in food productionBakers specialize in pastries and cakesElectricians specialize in electrical workFarmers specialize in raising food

What is a producer?

• A person eating • A chef cooking food

Who is a consumer?

• People eating in a restaurant

• Farmer growing a crop of corn

Who is an investors?

• A kid eating candy• A person putting

money in the bank