th 6 Grade Social Studies Unit 6 Lesson

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

Every society has RESOURCES.

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

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

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

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

SCARCITY forces societies to make

SCARCITY forces societies to make CHOICES in order to answer

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?

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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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

Effects of Natural Disasters 13

Economic Effects of Natural Disasters? ? ? 14

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

Migration 16

Push/Pull Factors 17

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

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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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

Migration Urbanization Causes Effects 22

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

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

CULTURE Cultural Components Relating to Economics 25

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

Cultural Landscapes 27

How do Cultural Landscapes Reflect Economics? 28

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

Photographs of the Aral Sea 2000 2012 30

Photographs of the Aral Sea 2000 2012 How did economics relate to the shrinking of the Aral Sea? Source: Photographs of the Aral Sea. http: //meridian. aag. org/changingplanet/index. cfm? action=main. module&section. ID=1&module. ID=4&page. ID=18 31

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

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

ACTIVITY 34

What did you learn about economics in this activity? Letter A B C D Natural Resources cobalt, copper, niobium, tantalum, petroleum, industrial and gem diamonds, gold, silver, zinc, manganese, tin, uranium, coal, hydropower, timber deepwater harbor, feldspar Rich, Poor or In the Middle? Dem. Rep of the Congo Hong Kong nickel, uranium, rare earth oxides, peat, cobalt, copper, platinum, vanadium, arable land, hydropower, niobium, tantalum, gold, tin, tungsten, kaolin, limestone petroleum, natural gas, fish E coal, copper, lead, molybdenum, phosphates, rare earth elements, uranium, bauxite, gold, iron, mercury, nickel, potash, silver, tungsten, zinc, petroleum, natural gas, timber F none G hydropower, fertile agricultural land, gold, diamonds, petroleum, hardwoods, limestone, iron ore, copper, chromium ore, zinc, tungsten, mica, silver H limestone, arable land, hydropower, unexploited deposits of uranium, coal, and bauxite RICH Burundi Quatar United States Macao South Sudan Malawi POOR 35

Human Modification Of the Environment 36

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

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Economic Globalization is about connections and interdependence 43

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

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