1 / 63

“A Picture is Worth a Thousand Words” Economics Poster Contest 2005-6 Sponsored by

“A Picture is Worth a Thousand Words” Economics Poster Contest 2005-6 Sponsored by. Illinois Council on Economic Education UIC Center for Economic Education. Economics Poster Contest Brought to you by the UIC Center for Economic Education. Presents: The First PLACE Winners 2005-06.

clint
Download Presentation

“A Picture is Worth a Thousand Words” Economics Poster Contest 2005-6 Sponsored by

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. “A Picture is Worth a Thousand Words”Economics Poster Contest 2005-6Sponsored by Illinois Council on Economic Education UIC Center for Economic Education

  2. Economics Poster ContestBrought to you by theUICCenter for Economic Education Presents: TheFirst PLACE Winners 2005-06

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

  4. K.D. • Concept : Productive Resources • 4th Grade • Rufus M. Hitch

  5. J.B. • Concept : Productive Resources • 3rd Grade • Ariel Community Academy

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

  7. L.F. • Concept : Opportunity Cost • 8th Grade • John W. Garvy

  8. I.K. • Concept : Opportunity Cost • 7th Grade • Ariel Community Academy

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

  10. M.R. • Concept : Goods and Services • 2nd Grade • Rufus M. Hitch

  11. A.W. • Concept : Goods and Services • 1st Grade • Ariel Community Academy

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

  13. J.S. • Concept: Scarcity • 7th Grade • Nathan Hale Elementary

  14. P.M. • Concept: Scarcity • 6th Grade • Ariel Community Academy

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

  16. A.R. • Concept : Specialization • 8th Grade • Nathan Hale Elementary

  17. J.A. • Concept : Specialization • 8th Grade • Nathan Hale Elementary

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

  19. E.C. • Concept : Producers and Consumers • 5th Grade • Nathan Hale

  20. K.W. • Concept : Producers and Consumers • 3rd Grade • St. Thomas the Apostle

  21. Economics Poster ContestBrought to you by theUICCenter for Economic Education Presents: TheSECOND PLACE Winners 2005-06

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

  23. C.L. • Concept : Productive Resources • 7th Grade • Ariel Community Academy

  24. N.F. • Concept : Productive Resources • 8th Grade • John W. Garvy

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

  26. T.J. • Concept : Goods and Services • 7th Grade • Hitch Elementary

  27. S.L. • Concept : Goods and Services • 3rd Grade • Rufus M. Hitch

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

  29. B.D. • Concept : Scarcity • 7th Grade • Nathan Hale Elementary

  30. R.A. • Concept : Scarcity • 7th Grade • Nathan Hale Elementary

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

More Related