1. Chapter 5.1
Business in the U.S. Economy
2012

2. Business & the Economy
“The business of America is business”
- Calvin Coolidge (Patron saint of the Tea Party)
“The most important role of businesses is to make and distribute products and services needed by consumers, government, and other businesses”
Agree or Disagree?

3. *Make and distribute products and services needed by consumers*
Roles of Business
Employment
Purchase Good and Services
Compensate Owners and Investors
Tax Payments
*Make and distribute products and services needed by consumers*

4. U.S. Economic Changes

5. Impacted by “baby boomers” 1946-1964
Employment Data
Essential for determining economic and employment trends at various levels
Impacted by “baby boomers”

6. Percent of Businesses by Employee Size
Source: U.S. Census Bureau

7. Pressures on the Employees
Technology streamlined production and introduced cost-cutting procedures
Examples?
Wages
Work-week hours
Opportunities
Contingent workers

8. ….Round Table….
Will the jobs that interest you today be available in 10 years?
Do today’s workers have more or fewer pressures on them than workers of the past? Why?

9. Business Activities
Generating Ideas
Raising Capital
Employing and Training Personnel
Buying Goods and Services
Marketing Goods and Services
Maintaining Business Records

10. Types of Businesses Producers Builders, Product Manufacturers
Intermediaries
Retailers and Wholesalers
Service Businesses
Dentists, Baby-sitters, Delivery Service

11. How does a manufacturer differ from an extractor?
….Round Table….
How does a manufacturer differ from an extractor?
An extractor takes natural resources, such as oil or timber, for direct consumption or for use in developing other products.
A manufacturer takes resources supplied by others and converts them into useable products.

12. Share the info… Answer & hand in before leaving please
The largest number of U.S. businesses employ ___________
More than 100 people
Between 50 and 100 people
Between 10 and 20 people
No employees other than the owner
2. Which of the following is NOT one of the common activities of all businesses?
Producing goods and services
Employing and training personnel
Marketing goods and services
Maintaining business records
3. A retailer is an example of a(n) __________
Extractor
Producer
Intermediary
Service business