1. “A Picture is Worth a Thousand Words” Economics Poster Contest 2003-4 Sponsored by Bank of America Illinois Council on Economic Education UIC Center for Economic Education

2. Economics Poster Contest Brought to you by the UIC Center for Economic Education Presents: The First Prize Winners 2003-4

3. Productive Resources l Production of goods and services in any economic system involves three types of resources: Natural Resources Human Resources Capital Resources

5. CA l Concept: Productive Resources l 8 th Grade l Hale Elementary School

6. Goods and Services l Goods are tangible objects desired by consumers and supplied by producers. l Example of goods: cars & books l Services are intangible outputs produced in the economy. l Example of a service: teaching

8. LA l Concept: Goods and Services l 5 th Grade l Healy Elementary School

9. Scarcity l World resources are limited, so we cannot produce or have everything we could possibly want. l Thus, we must make choices about how best to use the limited resources we have.

11. SB l Concept: Scarcity l 1 st Grade l Carver Primary

12. Goods and Services l Goods are tangible objects desired by consumers and supplied by producers. l Example of goods: cars & books l Services are intangible outputs produced in the economy. l Example of a service: teaching

14. VB l Concept: Goods and Services l 1 st Grade l Nathan Hale Elementary

15. Opportunity Cost l Opportunity Costs are what we give up when a resource is used for one purpose rather than another. l Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

17. RC l Concept: Opportunity Cost l 6 th Grade l Hitch Elementary

18. Producers & Consumers l Producers are the people, and/or firms, which make and supply the goods and services provided in the economy. l Consumers use the goods and services produced to satisfy their wants and needs.

20. LD l Concept: Producers and Consumers l 5 th Grade l Healy Elementary

21. Opportunity Cost l Opportunity Costs are what we give up when a resource is used for one purpose rather than another. l Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

23. MG l Concept: Opportunity Cost l 6 th Grade l Ariel Community Academy

24. Producers & Consumers l Producers are the people, and/or firms, which make and supply the goods and services provided in the economy. l Consumers use the goods and services produced to satisfy their wants and needs.

26. MM l Concept: Producers and Consumers l 5th Grade l Curtis Elementary

27. Specialization l Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best. l Thus, leaving the production of other goods to others.

29. SM l Concept: Specialization l 5 th Grade l Healy Elementary

30. Specialization l Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best. l Thus, leaving the production of other goods to others.

32. DO l Concept: Specialization l 6 th Grade l Nathan Hale Elementary

33. Scarcity l World resources are limited, so we cannot produce or have everything we could possibly want. l Thus, we must make choices about how best to use the limited resources we have.

35. AS l Concept: Scarcity l 8 th Grade l Garvey Elementary

36. Productive Resources l Production of goods and services in any economic system involves three types of resources: Natural Resources Human Resources Capital Resources

38. KS l Concept: Productive Resources l 8 th Grade l Nathan Hale Elementary

39. Economics Poster Contest Brought to you by the UIC Center for Economic Education Presents: The Second Prize Winners 2003-4

40. Specialization l Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best. l Thus, leaving the production of other goods to others.

42. KB l Concept: Specialization l 4 th Grade l Nathan Hale Elementary

43. Producers & Consumers l Producers are the people, and/or firms, which make and supply the goods and services provided in the economy. l Consumers use the goods and services produced to satisfy their wants and needs.

45. JB l Concept: Producers and Consumers l 3 rd Grade l Nathan Hale Elementary

46. Goods and Services l Goods are tangible objects desired by consumers and supplied by producers. l Example of goods: cars & books l Services are intangible outputs produced in the economy. l Example of a service: teaching

48. DC l Concept: Goods and Services l 4 th Grade l William King Elementary

49. Opportunity Cost l Opportunity Costs are what we give up when a resource is used for one purpose rather than another. l Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

51. MC l Concept: Opportunity Costs l 6 th Grade l Hitch Elementary

52. Goods and Services l Goods are tangible objects desired by consumers and supplied by producers. l Example of goods: cars & books l Services are intangible outputs produced in the economy. l Example of a service: teaching

54. BG l Concept: Goods and Services l 1 st Grade l Nathan Hale Elementary

55. Producers & Consumers l Producers are the people, and/or firms, which make and supply the goods and services provided in the economy. l Consumers use the goods and services produced to satisfy their wants and needs.

57. JL l Concept: Producers and Consumers l 5 th Grade l Beethoven Elementary

58. Producers & Consumers l Producers are the people, and/or firms, which make and supply the goods and services provided in the economy. l Consumers use the goods and services produced to satisfy their wants and needs.

60. EM l Concept: Producers and Consumers l 8 th Grade l Eberhart Elementary

61. Opportunity Cost l Opportunity Costs are what we give up when a resource is used for one purpose rather than another. l Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

63. BO l Concept: Opportunity Cost l 7 th Grade l Pershing Elementary

64. Scarcity l World resources are limited, so we cannot produce or have everything we could possibly want. l Thus, we must make choices about how best to use the limited resources we have.

66. HQ l Concept: Scarcity l 8 th Grade l Garvey Elementary

67. Scarcity l World resources are limited, so we cannot produce or have everything we could possibly want. l Thus, we must make choices about how best to use the limited resources we have.

69. ES l Concept: Scarcity l 5 th Grade l Skinner Elementary

70. Specialization l Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best. l Thus, leaving the production of other goods to others.

72. JT l Concept: Specialization l 5 th Grade l Healy Elementary

73. Opportunity Cost l Opportunity Costs are what we give up when a resource is used for one purpose rather than another. l Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

75. CZ l Concept: Opportunity Cost l 5 th Grade l Healy Elementary