The Our Region theme focuses on regions through a series of five activities. Students focus on the production and distribution of goods and services in a state or region. They learn about the importance of human, capital, and natural resources to the operation of a business. They learn about the flow of money through the economy and that businesses and industries are interdependent. They solve basic business problems in a regional economy.
Activity One: What are Regions and Resources?
Students distinguish economic regions in the United States. They examine natural, human, and capital resources available in different regions. They learn that businesses need resources to produce and sell a product.
Objectives:The students will define region, resource, business, and entrepreneur. Identify resources as natural, human, and capital. Locate a business of their choosing in a region
Concepts:business, capital resources, entrepreneur, goods, human resources, natural resources, products, region, services
Skills:following directions, making choices, map interpretation, reading, understanding symbols
Activity Two: Exploring Resources
Students examine regions of resources in the United States. They identify resources businesses use to make their products. They learn about the importance of location to a business.
Objectives:The students will analyze resources in different regions, list resources required to produce a good or service, determine a location for their business based on resources
Concepts:business, capital resources, human resources, natural resources, products, region
Skills:conducting research, comparing data, following directions, making choices, teamwork
Activity Three: Resources on the Move
Students recognize that businesses find resources throughout different regions. They discover ways businesses must work together to create a product.
Objectives:The students will identify resources involved in producing a product, define economy and specialization, recognize economic interdependence in a region and among regions
Concepts:business, capital resources, economy, goods, human resources, interdependence, natural resources, product, region, services, specialization
Skills:conducting research, following directions, map reading, organizing resources
Activity Four: Where’s the Money?
Students identify how resources relate to business income and expenses. They complete calculations to demonstrate how a business determines its profit or loss. Students learn a five-step, decision-making process and solve simple business problems.
Objectives:The students will define income, expenses, profit, and loss, demonstrate how a business tracks income and expenses, solve simple business problems
Concepts:advantage, business, decision, disadvantage, economy, expense, financial report, income, loss, product, profit, resources
Skills:comparing, following directions, making decisions, math computation, problem solving, teamwork
Activity Five: The Bottom Line
Students play a game that illustrates the flow of money in and out of a business. They calculate profits and losses and learn the importance of loans. Students search a region for the resources they need to make a product.
Objectives:The students will understand the importance of cash flow to businesses, record business income and expenses, calculate profit and loss, recognize the role of loans in business
Concepts:business, decisions, expenses, government, income, loss, opportunity cost, profit, taxes
Skills:building consensus, following directions, listening critically, mathematical computation, predicting results, selecting and applying information, teamwork