Lesson One Using Resources to Produce Goods and Services in Michigan

1. Lesson One Using Resources to Produce Goods and Services in Michigan The Economy of Michigan

2. the study of places as well as how people interact with the environment of different places. GEOGRAPHY

3. An important example of human/environment interaction in Michigan is the way in which people have used natural resources. Describe one example oh how people have interacted with the environment of Michigan.

4. The BIG Ideas Geography is the study of places and how people interact with the environment. One way people interact with the environment is by using natural resources. Economics is the study of how people use resources to produce goods and services that people need or want. Natural resources are studied in both geography and economics. People also use human and capital resources to produce goods and services. An entrepreneur is someone who combines the natural, human and capital resources to produce goods or services.

5. natural resources things in nature that people find useful � �Example: Water, soil and trees are natural resources.

6. Natural Resources Fertile soil corn, soybeans, potatoes, apples Water manufactured goods such as cars Trees lumber, furniture Iron cars, tools Limestone steel, cement Oil plastic Sand glass

7. economics the study of how people use limited resources to produce goods and services that people want or need. � � Example: In economics you study topics such as economic systems, trade, and production

8. When you identified products that could be made from natural resources you were actually studying economics.

9. economy activities related to making, trading and selling goods and services Example: Making cars has been an important part of the economy of Michigan for a long time.

10. What natural resources are needed to produce this pencil?

13. human resources workers and their skills � � Example: Truck drivers, doctors, and teachers are human resources.

14. What human resources are needed to produced the pencil? 

15. capital resources goods that are used to produce more goods and services � � Example: Factories and tools are capital resources.

16. What capital resources are need to produced this pencil?

19. entrepreneur � someone who combines natural, human, and capital resources to produce goods or services � Example: Henry Ford is an example of a Michigan entrepreneur.

20. Meet an Entrepreneur of the Past Henry Ford Highlight all of the numbers while you read? What do these numbers mean?

21. Informational Text Informational text can have different kinds of text patterns. Text selections like this one using dates or years follow a sequential text pattern. In other words, the information is presented in the order it happened.

22. Henry Ford

24. Questions about Henry Ford What was one reason the Model T was such a success? Because the car was so successful, what did Henry Ford decide to do? What is the main idea of the last paragraph? What made Henry Ford an entrepreneur?

25. Do you think there are still entrepreneurs in Michigan today?

26. What goods or services do you think Michigan entrepreneurs are producing today?

27. A Modern Entrepreneur

28. A Modern Entrepreneur Richard Marks was a former General Motors engineer. He is the inventor of the EcoV, an electric low speed vehicle. In the past few years he has built his own company, based in Detroit, to manufacture this economical vehicle. The vehicle is pure electric and economical to own and operate. It is almost maintenance free. It has no emissions, noise or odors. It is designed for city driving and can go 25 miles per hour. It currently costs just under $10,000.

31. Assessment