Business Economics in the Human Services Industry Practicum in Human Services

Transcription

1 Business Economics in the Human Services Industry Practicum in Human Services

2 Copyright Copyright Texas Education Agency, These Materials are copyrighted and trademarked as the property of the Texas Education Agency (TEA) and may not be reproduced without the express written permission of TEA, except under the following conditions: 1) Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts and schools educational use without obtaining permission from TEA. 2) Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only, without obtaining written permission of TEA. 3) Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way. 4) No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged. Private entities or persons located in Texas that are not Texas public school districts, Texas Education Service Centers, or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from TEA and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty. For information contact: Office of Copyrights, Trademarks, License Agreements, and Royalties, Texas Education Agency, 1701 N. Congress Ave., Austin, TX ; phone ; copyrights@tea.state.tx.us 2

3 Human Services Career Pathways Copyright Texas Education Agency, All Rights Reserved. 3

4 Aspects of Industries and Careers 4

5 The Economic System The economic system involves: distribution of economic outputs financial institutions government policies households investments land availability production the allocation of economic inputs 5

6 General Economic Systems The economic systems include: Barter economy Command economic systems Gift economy Market economy Participatory economics Planned economy Traditional economy 6

7 Common Economic Systems Command Free market Mixed Traditional 7

8 Types of Economic Systems (click on image) 8

9 Supply and Demand 9

10 Supply and Demand (click on image) 10

11 Determinants of Supply and Demand 11

12 The Business Cycle Expansion (boom) Peak Trough Contraction (recession) 12

13 Recession Stage 13

14 Expansion Stage 14

15 Types of Business Organizations Corporation Limited liability company (LLC) Partnership S corporation Sole proprietorship 15

16 Structures within Each Business 16

17 Management of Products and Services 17

18 Quality-control Systems for Goods and Services 18

19 Government Involvement 19

20 Competition 20

21 Spending Decisions What? Which item Where? From what source To buy or not to buy Planned purchase How to pay When? Unplanned or Impulsive How? 21

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23 References and Resources Images: All photos obtained through a license with Shutterstock.com. Bureau of Labor Statistics Websites: Bureau of Labor Statistics Employment Projections Small Business Administration Starting a small business Small Business Administration Strategic Planning for Small Businesses online course. YouTube : Supply and Demand If you ve only heard of one economics concept, it s probably supply and demand. The video contains the 2-minute version of what supply and demand consist of. UniversityNow: Types of Economic Systems Nearly every society in the world bases same fundamental problem how to distribute limited resources to people in a way that will be fair. 23