March 27, 2011
hey everybody!
today i am going
to teach you
about
economics!
economics is the making,
buying, and selling of
goods and services.
"I went into town last weekend to buy
Pluto a new bone. Daisy was working in
the pet store. Daisy is providing a
service. A service is any kind of work
done for others. The bone is a good. A
good is something you buy that you can
actually touch."
March 27, 2011
sort the
following
goods and
services.
I was hungry after the pet
store, so we decided to
stop at Goofy's
Hamburger Stand.
Name one good I could have
received at the Hamburger Stand.
Name one service I could have
received at the Hamburger Stand.
March 27, 2011
I wanted a deluxe cheeseburger and french
fries at Goofy's, but I didn't have enough
money. I decided to get just the deluxe
cheeseburger.
This is called Opportunity Cost.
Opportunity Cost is what is given up in
order to get something else.
I gave up the french fries in order to get
the deluxe cheeseburger.
What was my opportunity cost?
(What was given up?)
Goofy decided to tell me a little about operating a business.
He explained to me that PRODUCTIVE RESOURCES are
needed in order to make and sell goods and services.
He then explained to me that there are three types of
Productive Resources--Natural Resources, Human Resources,
and Capital Resources.
March 27, 2011
Natural Resources are
resources found in the
environment.
Productive
Resources
Human Resources are
what people do to make
goods and services.
Capital Resources are
goods produced and used
to make other goods and
services.
Natural Resources used to
make a Deluxe Cheeseburger
at Goofy's Hamburger Stand:
March 27, 2011
Human Resources used to make
a Deluxe Cheeseburger at
Goofy's Hamburger Stand:
Capital Resources used to
make a Deluxe Cheeseburger
at Goofy's Hamburger Stand:
March 27, 2011
At the restaurant, I met my best girl
Minnie. She told me she is going to
become an ENTREPRENEUR.
An ENTREPRENEUR is a person who
starts their own business.
She wants to start "Minnie's Bow-tique,"
a store that SPECIALIZES in selling all
kinds of bows.
SPECIALIZATION is when an individual
or a company specializes in doing one part
of a task, and relies on others to complete
the other parts.