FACS:Economic Resources (Econ)

Summary

Students will be able to create pictorial examples of natural, human, and capital resources. Students will transfer their knowledge of economic resources to how well-known businesses use resources.

Materials

1- File folders or equally stiff paper. (color is good)
2- Internet access to free clip art or old magazines. (for cutting out pictures)
3- Scissors, glue, (string or yarn -- optional)
4- Display Instruction sheets.
5- What Planet Are You On? worksheet.
6- Economic Resources worksheet.

Background for Teachers

Economic resources include human, capital, and natural resources. Economic resources are resources used in the production of a good or service. 1. Human resources are people producing goods or services through mental or physical work.
2. Capital resources are tangible items used to produce goods or services such as tractors, computers, construction equipment, busses, etc.
3. Natural resources include gifts of nature such as air, water, land, plants, etc.

Intended Learning Outcomes

1- Define economic resources. 2- Identify examples of natural, human, and capital resources.
3- List resources used in personal, school, and work settings.

Instructional Procedures

Use the Resources Display Worksheets in the attachments below for instructions on how to have students make either the circle or the file folder display. Students should create the basic form explained on the instruction sheets. Next, they should cut two or three (depending on size) pictures from clipt art or old magazines, catalogs, brochures, etc., to identify human, natural, and capital resources. Examples of each type of resource should be glued to the display form and labeled. (See instructions.)

Ask students to share and explain their work. They should be able to explain how the pictures chosen for their display can be considered resources which help produce goods and services.

Extensions

Students can now demonstrate understanding and transfer by completing the Economic Resources worksheet and/or the What Planet Are You On worksheet.

Finally, encourage students to transfer their knowledge of economic resources to business settings. In a class discussion, ask students to identify resources the following businesses might use:

1- McDonald's
2- Apple
3- WalMart
4- Snowbird Ski Resort
5- A small business in your town
6- Other