What do billionaires do?

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Presentation transcript:

What do billionaires do? Learning Objectives: understand how some billionaires have made their wealth. understand how geographers try to categorise the work people do and which sectors are home to most of the richest billionaires understand the importance of the consumption of goods and services in the creation of wealth and the contribution that billionaires working in different sectors of industry make to the UK’s economy.

Billionaire or Millionaire? Take the quiz below to see which brands have led to millionaires and which have produced billionaires. http://www.geographyteachingtoday.org.uk/images/misc/KS3_billionaire_Brand_billionaire.ppt

What kind of work do they do What kind of work do they do? There are 4 different kinds of economic activity (paid work) that people can do (and that includes our billionaires! Primary – gather material from the earth. Mining, drilling oil, farming or fishing for example Secondary –turn materials into things to sell. Making bread from wheat or ships from metal for example Tertiary – Provide a service for people. Tesco, teachers, carers, accountants, and taxi drivers are all providing service, some we pay for directly to them and some through taxes. Quaternary – Doing hi-tech research. Work on developing new medicines, new software and the latest mobile phones for example.

Match the billionaire to the sector of industry that has made them their money. http://www.geographyteachingtoday.org.uk/images/text/KS3_top20billionairesandsectors.doc This is also available in the shared area. Get students to complete in groups of 3 or 4.Students will probably need ICT access. If not this could be set as a homework activity.

Industry and billionaires by sector. Are there any difficulties that arise in assigning billionaires to a particular pigeon-hole – There is considerable overlap. Bill Gates for example invents things (quaternary) but his firm also manufactures (secondary) and sells goods (tertiary) , thus Microsoft straddles the quaternary, tertiary and secondary sectors!

Contribution of Billionaires to UK economy. Read the worksheet carefully. Work out the amount of money made in each sector by these billionaires. Compare the contributions that the different sectors of industry make to national wealth as a whole with those of the sectors of UK billionaires – do they fit? Extension: Show the pie chart data as a percentage bar.