Transcript Budgets and Businesses PPT

Budgets and
Businesses
Workshop
Budget: is a plan that shows
income, spending and saving.
Income:
Spending:
Saving:
People make choices
• Economic Choice: when people
buy one thing instead of another
thing
– People make economic choices
when they spend money.
– Making a list or a chart of options
can help people make decisions.
Businesses
• 2 examples of a small business
• 2 examples of a big business
• 2 examples of businesses that
make things
• 2 examples of businesses that
provide services
Amount of a Product
• Supply: amount of a product
that producers want to sell
– If supply increases, price goes
down
• Demand: amount of products
that people want and can pay
for
– If demand decreases, price
goes down
Getting Ahead
• People work to earn an income.
• Businesses try to make a profit
•
Profit: income a business has left
after all its costs are paid
• Costs for businesses include:
•
•
Salaries for workers
Pay for goods that it buys or uses
to make products
Competition
• Buyers can choose from
products made by several
companies.
• Most people want to pay less
for a product.
Free Enterprise/
Free Market
• An economy in which private
business operates with
competition and without state
control.
• People and Businesses
choose what to produce and
what to buy.
How Can Budgets
Help a Business
• http://www.socialstudiesforkid
s.com/articles/economics/mak
ingabudget1.htm
Advertising
Advertisements: promote a
product, service, or event
Examples:
Advertising
• http://pbskids.org/dontbuyit/ad
vertisingtricks/