Economics 1

1. What is the way in which the resources of a country, state, region, or community are managed? economy
2. What is a product someone makes or grows? good
3. What is a job people do to help other people? service
4. Is delivering mail an example of a good or service? service
5. Is bananas an example of a good or service? good
6. Name three examples of GOODS that Louisiana is known for:rice, sugar cane, cotton, soy beans, sweet potatoes, grains
7. List three examples of SERVICES Louisiana is known for: mail delivery, ship ports, airplanes, truck transport, fire fighters, police
8. What is something that a person CANNOT live with out called? a need
9. What is something that you would like to have, but can survive without called? a Want
10. What are the four basic needs a human has? food, water, shelter, clothing
11. What are the four metods of transportation?
truck, train, plane, ship
12. What is an arrangement of workers in which work passes from person to person in direct line until the product is assembled? Each person has a specific job that he does over and over? assembly line
13. Who was the first person to use an assembly line? He used it in his car business. Henry Ford
14. How has technology changed to make jobs easier? Technology has changed over the years to provide advancement in equipment, more efficient products, and new ways of communication.
15. What is shortness in supply called? scarcity.
16. What is it called when there is not enough of something to meet people's needs or wants? scarce

Various economics ppts:

Lesson Plans
Day 1:
· Introduction to economics: Play United Streaming: Understanding Economics (25min)
· TTW present PPT presentation

· TLW complete study guide # 1-9
Day 2:

· TLW review goods and services from study guide.
· TLW complete tree map to categorize pictures of goods or services.
· TLW complete study guide # 10-12
· Day 1 of Bananas
Day 3:

· Day 2 of Bananas
· Discuss modes of transportation used in the story and compare the costs.
· TLW complete a double bubble map with a partner comparing two of the modes of transportation.
Day 4:

· Day 3 of Bananas
· TLW complete transportation sheet on four methods of transportation.
· TLW view a brainpop or United Streaming video.
Day 5:

· TLW complete study guide # 13-15
· TLW participate in Paper bag lesson on scarcity. (see attached handout for specific directions)
· TLW sing the scarcity song.
· TLW participate in Space in Japan lesson. (block off in hall)
Day 6:

· TLW review the good and services definitions.
o Discuss how these are made and completed today. How were they done before technology and inventions? Discuss advances with technology vs. assembly line.
o Discuss the assembly line production from the book.
o Complete the comparing the past and present worksheet.
o Optional assembly line activity. Materials required to participate.
Day 7:

· TLW review the study guide with a partner
· TLW participate in a “Find Someone Who” Kagan review activity
· TLW view a united streaming video or brainpop.
Day 8:

· TLW demonstrate knowledge of economics part 1 by taking test.
United Streaming Videos:
· Understanding Economics (25 minutes)
· Production workers and the goods they produce (16 minutes)
· Service workers and the services they provide (17 minutes)
· Economics: The Production, Distrubution, and Consumption of the goods and services
Brainpop videos:

· Assembly line
Brainpop Jr.

· Goods and services
· Needs and wants