6th Grade Social Studies Unit 6, Lesson 1: What is Economics?

Every society has RESOURCES.

Every society has RESOURCES. CAPITAL RESOURCES NATURAL (Land) RESOURCES HUMAN (Labor) RESOURCES

Every society has RESOURCES which are used to produce CAPITAL RESOURCES NATURAL (Land) RESOURCES HUMAN (Labor) RESOURCES which are used to produce GOODS and SERVICES

But RESOURCES are limited and HUMAN WANTS are unlimited which results in

But RESOURCES are limited and HUMAN WANTS are unlimited which results in SCARCITY

forces societies to make SCARCITY forces societies to make

forces societies to make SCARCITY forces societies to make CHOICES in order to answer

SCARCITY CHOICES in order to answer the questions: forces societies to make CHOICES in order to answer the questions: WHO will consume the goods and services? WHAT goods and services will be produced? HOW will the goods and services be produced?

SCARCITY forces societies to make CHOICES in order to answer the questions: WHO will consume the goods and services? WHAT goods and services will be produced? HOW will the goods and services be produced? How a society answers these questions will result in a particular type of ECONOMIC SYSTEM

Economists study ? … how people produce, distribute, and consume goods and services This includes: Scarcity, choice, and decision making Different kinds of economic systems Productive resources (natural, human, capital) Specialization, trade, and interdependence

Effects of Natural Disasters

Economic Effects of Natural Disasters???

Economic Effects of Natural Disasters Disruption of the economy Loss of jobs due to damage of buildings, etc. Physical damage to businesses and industry Loss of businesses Disruptions in trade

Migration

Push/Pull Factors

Push/Pull Factors What is an example of an economic push factor?

Push/Pull Factors What is an example of an economic push factor? economic pull factor?

From 1955 until 1973, over one million guest workers arrived in the Federal Republic of Germany, mostly from Italy, Spain, and Turkey. Many people from Mexico and other Latin American countries migrate to the United States looking for jobs and a better life. The State of Qatar has one of the fastest growing economies in the world and a relatively small native population. This situation has led to an influx of foreign nationals and a population boom.

Migration Urbanization Causes Effects

What are some economic reasons that people move to cities?

What are some economic reasons that people move to cities? Jobs More opportunities A chance for a better life A greater variety of goods

Cultural Components Relating to Economics CULTURE Cultural Components Relating to Economics

Cultural Components Relating to Economics CULTURE Cultural Components Relating to Economics The ways people make a living They types of currency people use The ways in which goods are made People’s beliefs about wealth and material goods

Cultural Landscapes

How do Cultural Landscapes Reflect Economics?

Environment Interaction Using the Environment Human/ Environment Interaction Adapting to the Environment Modifying the Environment

Photographs of the Aral Sea 2000 2012

Photographs of the Aral Sea 2000 2012 How did economics relate to the shrinking of the Aral Sea? Source: Photographs of the Aral Sea. http://meridian.aag.org/changingplanet/index.cfm?action=main.module&sectionID=1&moduleID=4&pageID=18

What were some economic effects of the shrinking of the Aral Sea? Aral Sea Dried Up. 16 March 2013. http://www.global-greenhouse-warming.com/images/AralSeaDriedup.jpg What were some economic effects of the shrinking of the Aral Sea?

What are they? Where are they? How do people use them? NATURAL RESOURCES How do people use them?

ACTIVITY

RICH POOR What did you learn about economics in this activity? Letter Natural Resources Rich, Poor or In the Middle? A cobalt, copper, niobium, tantalum, petroleum, industrial and gem diamonds, gold, silver, zinc, manganese, tin, uranium, coal, hydropower, timber   B deepwater harbor, feldspar C nickel, uranium, rare earth oxides, peat, cobalt, copper, platinum, vanadium, arable land, hydropower, niobium, tantalum, gold, tin, tungsten, kaolin, limestone D petroleum, natural gas, fish E coal, copper, lead, molybdenum, phosphates, rare earth elements, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc, petroleum, natural gas, timber F none G hydropower, fertile agricultural land, gold, diamonds, petroleum, hardwoods, limestone, iron ore, copper, chromium ore, zinc, tungsten, mica, silver H limestone, arable land, hydropower, unexploited deposits of uranium, coal, and bauxite Dem. Rep of the Congo Hong Kong Burundi Quatar United States Macao South Sudan Malawi RICH POOR

Human Modification Of the Environment HOW? WHY?

What are some economic reasons humans modify the environment? Modification Of the Environment HOW? WHY? What are some economic reasons humans modify the environment?

7 Ways Humans are Damaging the Planet. 20 April 2013. http://www. mnn

7 Ways Humans are Damaging the Planet. 20 April 2013. http://www. mnn

Overfishing Cartoon. 7 May 7 2013. http://www. thelivingocean

Economic Globalization is about connections and interdependence

Criteria/ Definition of Economic Globalization The development of increased interconnections and interdependence of many different economic systems marked by free trade and the free flow of capital, labor, and resources

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