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

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

2 Every society has RESOURCES.

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

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

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

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

7 SCARCITY forces societies to make

8 SCARCITY forces societies to make CHOICES in order to answer

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

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

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12 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 12

13 Effects of Natural Disasters 13

14 Economic Effects of Natural Disasters??? 14

15 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 15

16 Migration 16

17 Push/Pull Factors 17

18 Push/Pull Factors What is an example of an economic push factor? 18

19 Push/Pull Factors What is an example of an economic push factor? What is an example of an economic pull factor? 19

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21 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. 21

22 Migration Urbanization Causes Effects 22

23 What are some economic reasons that people move to cities? 23

24 What are some economic reasons that people move to cities? Jobs More opportunities A chance for a better life A greater variety of goods 24

25 CULTURE Cultural Components Relating to Economics 25

26 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 26

27 Cultural Landscapes 27

28 How do Cultural Landscapes Reflect Economics? 28

29 Using the Environment Human/ Environment Interaction Adapting to the Environment Modifying the Environment 29

30 Photographs of the Aral Sea

31 Photographs of the Aral Sea Source: Photographs of the Aral Sea. How did economics relate to the shrinking of the Aral Sea? 31

32 What were some economic effects of the shrinking of the Aral Sea? 32

33 What are they? Where are they? NATURAL RESOURCES How do people use them? 33

34 ACTIVITY 34

35 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 Dem. Rep of the Congo B C D E F G H deepwater harbor, feldspar nickel, uranium, rare earth oxides, peat, cobalt, copper, platinum, vanadium, arable land, hydropower, niobium, tantalum, gold, tin, tungsten, kaolin, limestone petroleum, natural gas, fish coal, copper, lead, molybdenum, phosphates, rare earth elements, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc, petroleum, natural gas, timber none hydropower, fertile agricultural land, gold, diamonds, petroleum, hardwoods, limestone, iron ore, copper, chromium ore, zinc, tungsten, mica, silver limestone, arable land, hydropower, unexploited deposits of uranium, coal, and bauxite Hong Kong Burundi Quatar United States Macao South Sudan Malawi RICH POOR 35

36 Human Modification Of the Environment 36

37 Human Modification Of the Environment What are some economic reasons humans modify the environment? 37

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43 Economic Globalization is about connections and interdependence 43

44 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 44

45 Property of Oakland Schools Author: Carol Egbo Editor: Amy Bloom Copyright Oakland Schools 45

Chapter - 3. Mineral and Power Resources

Chapter - 3. Mineral and Power Resources Chapter - 3 Mineral and Power Resources What are Minerals? A naturally occurring substance that has a definite chemical composition is a mineral Minerals Not distributed properly concentrated in a particular