The Fracchia Page
a guide to navigating the educational world of Fracqistan
How are we a part of the economy?
The affect of a private economy on our lives
Step 1: Good and Services
An economy is how money is used to buy and sell things. In an economy, people can buy and sell good and services. Goods are actual products you can buy while a service is when someone does something for you.
***On the right is a video to help you
A. On your website, create a new page titled Economy
B. On the Economy page explain what is an economy. Include a picture.
C. On the Economy page explain what goods and services are. Include two examples and a picture of goods and two examples and a picture of services
D. We are going to start our own business. Think of a good or a service that you could provide your classmates. You could use the 3d printer, cooking, arts and crafts, or something else.
E. Create a name for you business and either make it onto a poster or a padelet.com. You may decorate it with pictures.
F. Think about the people that you know. Explain on you Economy page, whether most people that you know provide a good or a service. Why do you think this is?
We are going to look at what makes the private part of our economy. We will examine how our participation in the economy affects the way in which we live.
You will complete a Google Site.
Goods and services
Step 2: Employers and Employees.
Capitalism is when people own their own businesses. Owners are the people that own a company. Employers are the people that run a company. Employees are the people that work for a company. Employers pay employees wages for their work.
A. Watch the video on the right.
B. On your Economy page explain the words capitalism, owner, employee, employer, and wages. Include at least 1 picture.
C. On your Economy page please answer the following question:
-Do you think that an employer wants wages to be high or low at a job? Why?
Do you think that an employee wants wages to be high or low at a job? Why?
D. You can ask your classmates if anyone would like to join your company and work for you.
E. Create a page titled Business Plan and write the names of the owner, employer, and employees in your company..
F. In a capitalistic economy who do you think is the most important people, the owners or the employees? Why?
Employers
and
Employees
Step 3: Income and expenses
Businesses have expenses that they have to pay. These are the bills such as employee's wages, renting the store, electricity, and more. Businesses also bring in income. Income is the money that a business makes.
A. Watch the video on the right.
B. On your Economy page explain the words expenses and income. Include at least 1 picture
C. On your Economy page explain the difference between a surplus and a deficit. Which one would you rather have? Why?
D. On your Business plan page include the expenses that you forsee for your company and the income. Do you think that you will have a surplus or a deficit? Why?
E. What are at least three ways that you think a company might try to fix a deficit? What might be the consequence of each?
Step 4: Produce your business
A. Identify the resources that you will need for your business and where you can find them. Write this down on your Business Plan
B. List your expenses and your income on your Business plan.
C. If you have more income planned than expenses, you can get a loan for your items.
D. Order your items.
E. What do you think banks require before granting a loan? Do you think everyone can get a loan easily? Why or Why not?
Step 5: Putting together your business
A. Create your storefront. This should include a store sign and any other materials that you might need.
B. Check your materials and make sure that you have everything that you need. List your materials in your Business Plan
B. Talk to any employees that you might have and discuss what their roles will be. Right down their positions on your Business Plan.
Honors Project: Economy and Value
A. Watch the video here
B. Look up the words inflation and deflation
C. Create a visual display that explains
-how people get what they need
- how money gets its value
-when money might lose its value (use the words inflation in your example)
-what you think people might be able to do about inflation
-at least 2 pictures