Production and Distribution

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Production and Distribution

• Social Studies/Economics

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Descriptive Overview

• In the American economic system, the market and
  the federal, state, and local governments share
  in the important role of production of goods and
  services. This system is called a mixed market
  economy, or more simply stated, a mixed economy.
  And, in the American mixed economy, any level of
  government may influence the market. They do
  this primarily as a matter of consumer
  protection. This lesson will present a broad
  view
• of the circular flow of the U. S. economy.

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Lesson Objectives/Goals

• Students will be able to
• identify the components of U. S. economic
  activity
• explain about factors of production and
• discuss and demonstrate the various components of
  the
• Want-Satisfaction Chain.

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Key Questions

• What impact does government taxation, borrowing,
  and spending have on the production and
  distribution cycle?
• What impact does the disruption of any portion of
  the production/distribution cycle have
  on the U. S. economy?

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Terminology/Vocabulary

• Factors of production (land, labor, capital)
• want-satisfaction chain

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• Flow of Factors to Goods

Land
Goods and Services
Production
Labor
Capital
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Sneaker Production
Components of a sneaker ____________________
________________________________________
Land Definition _________________________________
_________________
Labor Definition ________________________________
__________________
Capitol Definition ______________________________
__________________
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