History from the Ohio Hills 62 S04 Economics

S04. Economics Ohio Social Studies Grade 3-5 Benchmarks

A. Explain the opportunity costs involved in the allocation of scarce productive resources. (Scarcity and

Resource Allocation) • Y2003.CSS.S04.G03-05.BA.L04.I01 • Y2003.CSS.S04.G03-05.BA.L04.I02

B. Explain why entrepreneurship, capital goods, technology, specialization and division of labor are important in the production of goods and services. (Production, Distribution and Consumption)

• Y2003.CSS.S04.G03-05.BB.L04.I03 C. Explain how competition affects producers and consumers in a market economy and why specialization

facilitates trade. (Markets) • Y2003.CSS.S04.G03-05.BC.L04.I04 • Y2003.CSS.S04.G03-05.BC.L04.I05 • Y2003.CSS.S04.G03-05.BC.L04.I06

Classroom Activities

Activity #1 Social Studies:

• Scarcity and Resource Allocation: Y2003.CSS.S04.G03-05.BA.L04.I • Skills and Methods: Y2003.CSS.S07.G03-05.BA.L04.I01, I03

Mathematics: • Y2003.CMA.S05.G03-04.BA.L04.I03 • Y2003.CMA.S05.G03-04.BB.L04.I01 and I05

Trees were cut down for fuel. Make a list of the opportunity costs of this action. That is - what products could not be made because the trees were used as fuel?

Variation #1 Research the kinds of trees that grew in Ohio in the past and learn if the same types of trees are available today. Use a Venn diagram to display the results of the research. Ohio trees include: Apple, Ash, Beech, Birch, Buckeye, Catalpa, Cherry, Chestnut, Crabapple, Dogwood, Elm, Fir, Ginkgo, Hawthorn, Hemlock, Hickory, Juniper, Locust, Maple, Mulberry, Oak, Pawpaw, Pine, Plum, Poplar, Redbud, Sassafras, Spruce, Sumac, Sweetgum, Tuliptree, Walnut, and Willow. (Source: Ohio State University/Extension Ohio Trees Bulletin 700-00. http://ohioline.osu.edu/b700/index.html)

Activity #2 Social Studies:

• Cultures: Y2003.CSS.S02.G03-05.BA.L04.I01 • Geography: Y2003.CSS.S03.G03-05.BC.L04.I09 • Scarcity and Resource Allocation: Y2003.CSS.S04.G03-05.BA.L04.I01

History from the Ohio Hills 63 S04 Economics

• Markets: Y2003.CSS.S04.G03-05.BC.L04.I05, I06 • Skills and Methods:

• Y2003.CSS.S07.G03-05.BA.L04.I01, I03 • Y200s.CSS.S07.G03-05.BC.L04.I09

Baskets have been made in Ohio since the Adena and Fort Ancient peoples wove grasses into containers to hold their berries and nuts. Today craftspeople at the Longaberger Company in Dresden, Ohio create baskets that are sold all over the United States. Have the students brainstorm and/or research any of the following topics:

• Identify the uses for baskets by different cultures or throughout Ohio’s history and prehistory. • Identify the natural resources, capital goods, and human resources that are used to make Longaberger

baskets. • Identify the natural resources, capital goods, and human resources used to make baskets during Ohio’s

prehistory. • Investigate or discuss Longaberger and economic markets:

o Does Longaberger specialize in what they produce? o How do they carry out the trade in Longaberger baskets? o How does the Longaberger company increase the amount of goods and services available in

Ohio?

Variation #1 Research a manufacturer in you local area – especially one engaged in international trade. Investigate the productive resources needed to produce one or more products, suggest the opportunity costs for the resources involved, and the income/outgo of goods and services to your area that are related to the manufacture. Contact the manufacture to see if they permit on-site student tours.

Activity #3 Social Studies:

• Scarcity and Resource Allocation: Y2003.CSS.S04.G03-05.BA.L04.I01 • Skills and Methods: Y2003.CSS.S07.G03-05.BD.L04.I10

Writing: Y2003.CEW.S02.G03-04.BA.L04.I05 “What’s the Cost?” activity from PBS 45/49’s Economics Academy 101 online multimedia project. • Lesson Plan: http://www.pbs4549.org/economics/cost.htm • Outcome: The students will comprehend the concept of opportunity cost. • Download the Adobe Acrobat PDF file materials and run them off.

o Problem Cards. Example: “You are a student member of a committee to choose equipment that will be used in the cafeteria during lunch. Your choices are a jukebox, a new sound system or a piano for the students to use.”

o Decision Making Chart. Children work in small groups to make a choice and identify the opportunity cost for making the choice. They list positive and negative points for each and explain why they chose one opportunity over the other.

o What’s the Opportunity Cost. Each student will write a paragraph explaining how the group’s decision was made and what the importance is of knowing your opportunity cost.

Activity #4 Social Studies:

• Scarcity and Resource Allocation: Y2003.CSS.S04.G03-05.BA.L04.I01 • Production, Distribution, and Consumption: Y2003.CSS.S04.G03-04.BB.L04.I03 • Markets: Y2003.CSS.S04.G03-04.BC.L04.I05 • Skills and Methods: Y2003.CSS.S07.G03-05.BA.L04.I01, I03

History from the Ohio Hills 64 S04 Economics

“The Chains of Interdependence” activity from PBS 45/49’s Economics Academy 101 online multimedia project. • Lesson Plan: http://www.pbs4549.org/economics/chains.htm • Outcome: Students will understand that the production of most goods requires others goods, and that this

requirement leads to specialization and interdependence. • Students research an industry and use one chain of paper clips to represent that industry. They then create,

label, and attach new chains for each industry that they see as necessary for the chosen industry to continue to exist and make a profit. For example, if the foundation industry chosen is new-home construction, there will be chains made and labeled for industries such as lumber, brick, concrete, plumbing, electricity, phone/cable, heating, architecture, landscaping, decorating, siding, surveying, insulation, etc. …

Word Bank

Term

Part of Speech Definition

capital goods noun human-made materials needed to produce goods and services - Examples: buildings, machinery, equipment and tools

consumer noun the person who buys and/or uses goods and services consumption noun buying and using of goods and services country noun a nation or state that is independent or remains separate in some manner

Examples: the United States, France, China, South Africa demand noun the amount of wanting or needing that exists for a good or a service, the

number of consumers who want and are able to buy a good or a service depend verb to be affected or decided by other things; to rely upon distribution noun the passing out, sharing or delivering of goods to people or an area economic adjective having to do with the production and consumption of goods and services for

an entire community (or area) when looked at as a whole entrepreneur noun a person who sets up and puts money into the making of goods or services

in order to make a profit goods noun things made for sale or for use that can be seen and touched - Examples: ice

cream, piano, car, cell phone, hearing aide household noun the people who live together in a single shelter such as a house, mobile

home, apartment, condominium human resources

noun the talents and skills of human beings which are used in the production of goods and services. (A previous Social Studies standards adoption identifed human resources as labor or labor resources.)

income noun the amount of money coming - either as payment for goods or services, from earning a profit, or as gifts

market noun the exchange of goods, services, and resources between buyers and sellers obtain verb to get possession or ownership of something, especially by making an effort opportunity cost

noun the value of what a person must give up in order to get something else; the value of the next best choice that is given up when a decision is made

produce verb to make producer noun a person who puts together natural, human and capital resources to make

goods and/or services production noun the putting together of natural, human and capital resources to make either a

good or a service productive resources

noun capital goods, human resources, and natural resources

profit noun the total income from a good or a service minus the total costs of its production

History from the Ohio Hills 65 S04 Economics

Term

Part of Speech Definition

resources noun somebody who or something that is useful, helpful, or has information you want to know

risk noun the danger that an injury, damage, or loss will happen seek verb to try to do something or to get something services noun actions that people do for others - Services are consumed at the instant they

are produced. Examples: cutting hair, teaching school, waiting on a customer in a store or restaurant, fighting fires

specialization noun being an expert on one job, product or service; producing only a few products instead of many different products

specialize verb to spend time on just one interest, skill, or subject trade noun the activity of buying and selling or bartering of goods and services

Web Links

InfOhio • http://www.infohio.org • InfOhio's state-funded resources are available to all Ohio K-12 students and teachers. Use the Grade K-5

resource components: • Digital Video Collection. The videos can be watched online or downloaded to your computer.

o 19th Century Turning Points in US History series: “1870 Rockerfeller Incorporates Standard Oil Co. of Ohio”

o Our Ohio series: “Apple Harvest” “Change in the Wind” (Ethanol production in Ohio) “Cheese Production” “Pizza Factory” “Potato Chips” “Sheep to Sweaters” “Soybeans to Japan” (Honda got into the Ohio soybean business as a way to fill empty

transports that had delivered car/motorcycle parts to Ohio Honda plants.) Episode 122: “Ohio’s Salad Bowl” (Northwestern Ohio area) Episode 202: “Corn-based Plastics” Episode 202: “Velvet Ice Cream” Episode 203: “Columbus Washboard Company” Episode 204: “Hartstone Pottery” Episode 301: “Odd Jobs Uban Krag” (Entrepreneur Carl Williamson transforms an

abandoned Dayton church into a rock climbing training facility.) • American National Biography • Britannica Online • Kids Search

Ohio Social Studies Resource Center

• Economics Standard: http://www.ossrc.org/standard.php?rec=4 • The Ohio Social Studies Resource Center (OSSRC) provides links to peer-reviewed instructional

resources that have been identified by a review board of Ohio educators as exemplifying best or promising practices. The resources are correlated with the Ohio Social Studies Academic Content Standards. The site is organized first by content standard, then by grade level, and finally by indicator. Entries are divided into content resources and instructional resources.

History from the Ohio Hills 66 S04 Economics

Ohio Instructional Management System Model Lessons: • http://ims.ode.state.oh.us • Navigate to Ohio IMS. Do an IMS Quick Search for Lesson Plans. Content Area: Social Studies, Grade

Level: as desired. A list of model lessons appears. Choose a lesson and add it to your IMS Backpack account – or download it in either PDF or Microsoft Word format.

• Economics Model Lessons include: o Grade 3: “Opportunity Cost” and “Production: Specialization and Division of Labor” o Grade 4: “How We Use Productive Resources,” “Ohio Markets,” “Organizing Productive

Resources to Make a Profit,” and “Why Does Ohio Specialize and Trade?” o Grade 5: “Allocation Methods” and “Farming Regions and Product Specialization”

Ohio Treasure Chest of Technology Resources

• Social Studies: http://www.ohiotreasurechest.org/cgi-bin/course_list.pl?content_area=CSS • The Ohio Treasure Chest is an online collection of thousands of web sites that are high quality, teacher-

reviewed, interactive, and free. The Social Studies web site is aligned directly to the Ohio Academic Content Standards and is ready for use in your classroom. The site is organized first by grade level, then by standard, and finally by indicator. Entries are divided into web resources and lesson plans. North Canton City Schools’ Technology Integration Specialist Eric Curts administers this site.

eTSEO Programs

• Econ & Me: “Scarcity,” “Consumption,” “Interdependence,” “Opportunity Cost,” and “Production.” • Ohio Stories: “Industry and Labor” • Producing Ohio: “International Trade” • Tracks: Impressions of America: “Changing Times and Modern Industries”

Distance Learning Opportunities

The Ohio Distance Learning http://www.ohiodl.org web site links users to exemplary distance learning resources and provides a forum for discussing issues relating to video distance learning. Distance learning events are usually held in registered videoconferencing rooms (called Video Rooms). eTech Ohio registers the rooms. Video Rooms are located in many of Ohio’s K-12 schools, at Educational Service Centers, at State Support Team facilities, and in other locations. Each Video Room has a designated room contact and a technical contact person. Distance Learning events are scheduled through the contact people. If your school or community has distance learning equipment but no registered Video Room, the Ohio Distance Learning web site includes video tutorials on how to register a room at eTech Ohio and how to schedule events. The following list includes program titles and their content providers for the Economics standard. Ohio Historical Society http://www.ohiohistoryteachers.org/05/index.shtml

• So You Know Ohio? Interactive game show economics category: “Show Me the Money”

Field Trips

Two types of web links are listed for each of the suggested field trip locations. • Facility links lead to touring information about the site. Expect to find information about hours,

educational tours, exact location, and background about the site. • Social Studies Connection links lead to historical information about the site.

o In some instances these links are site specific.

History from the Ohio Hills 67 S04 Economics

o Most entries reference articles in the Ohio Historical Society’s online encyclopedia Ohio History Central. Ohio History Central encompasses Ohio’s natural history, pre-history, and history. Access Ohio History Central at: http://www.ohiohistorycentral.org.

Bob Evans Farms

• Rio Grande, Ohio (Gallia County) • Facility: http://www.bobevans.com/ Click the Bob Evans Farm link in the left margin. • Social Studies Connection: Ohio History Central:

o Agriculture and Farming in Ohio o Bob Evans o Bob Evans Restaurants

Factory Tours – Ohio listings

o http://www.factorytoursusa.com/StateList.asp?state=OH o Facilities: Each factory is described and links to touring information is listed. o Social Studies Connection: Ohio History Central: Early Industrialization

Kennedy Museum of Art (Native American Art and Textiles)

• Athens, Ohio (Athens County) • Facility: http://www.ohiou.edu/museum/visit.htm • Kennedy Museum: http://www.ohiou.edu/museum • “From Sheep to Loom” virtual presentation: http://www.ohiou.edu/museum/sheep/

Ohio Museum Listings • Ohio Museums Association: View museum listings by name, region, or type:

http://www.ohiomuseums.org/guide.html

Ye Old Mill • Utica, Ohio (Licking County) • Facility: http://www.velveticecream.com/olde_mill.asp • Social Studies Connections:

o Ice Cream/Milling: http://www.velveticecream.com/tours.asp o Ohio History Central: Ice Cream Cone Machine o History of the Ice Cream Cone: http://www.idfa.org/facts/icmonth/page8.cfm

Trade Book Connections

Social Studies Trade Books for Grades 3-5 • The Ohio Resource Center (ORC) • http://www.ohiorc.org/adlit/ip_content.aspx?parentID=217&recID=223 • The web page is organized by Ohio Grades 3-5 benchmarks and lists each book’s author, copyright date,

title and publisher. ORC provides a bibliography of trade books compiled by Kathy Buck, Elementary Librarian, Xenia Community Schools.

Notable Social Studies Trade Books for Young People • The National Council of Social Studies (NCSS).

• http://www.socialstudies.org/resources/notable/ • Each year the NCSS publishes an annotated book list of notable books that were copyrighted in the

previous year. The books are evaluated and selected by a Book Review Committee appointed by National Council for the Social Studies (NCSS) and assembled in cooperation with the Children's Book Council (CBC). One must purchase a membership to the NCSS to view the most recent year’s online book list but past lists are available in downloadable PDF format.

• Once a book list file is downloaded and launched, use your PDF viewer’s keyword search/find function to quickly locate appropriate books.

History from the Ohio Hills 68 S04 Economics

• Book lists are organized by Theme Strands. The NCSS strand that matches Ohio’s Economics standard is VII. Production, Distribution, and Consumption.

• Grade Level codes are: Primary (P), Intermediate (I), Middle School (M), and High School (H)

Economics Question Bank – with answers

A. Scarcity and Resource Allocation: Explain the opportunity costs involved in the allocation of scarce productive resources. 1) Identify the productive resource needed to make pottery or bricks from the list below.

a) Limestone b) Iron c) Clay d) Coal

2) Which of the following identify an opportunity costs if you choose to use milk to produce cheese?

a) $100.00 b) Butter c) Grass or hay d) Ice Cream

3) Which of the following identify productive resources needed to make cheese?

a) Dairy farmer b) Grass or hay c) Skillet or frying pan d) Milking machine

4) Between 1960 and 2000 the amount of coal that was mined in southeastern Ohio decreased because most of it

had already been mined. The coal that was left was hard to reach.

Which of the following statements describe what probably happened in southeastern Ohio because of the decrease in the amount of coal that was mined?

a) Trade and the production of goods using coal decreased. b) Trade and the production of goods using coal increased. c) Trade and the production of goods using coal stayed the same. d) Trade increased but the production of goods using coal decreased.

5) A business person buys trees that have been cut down. He has them delivered by truck to a saw mill to make

into lumber. Match each productive resource with the correct type of resource.

a) Business person b) Trees c) Truck d) Saw mill

1. natural resource 2. human resource 3. capital good 4. service resource

A. Business person – 2. Human resource B. Trees – 1. Natural resource C. Truck – 3. Capital good D. Saw Mill – 3. Capital good

History from the Ohio Hills 69 S04 Economics

B. Production, Distribution and Consumption: Explain why entrepreneurship, capital goods, technology, specialization and division of labor are important in the production of goods and services. 6) A Native American woman wove baskets from long blades of grass, bark, and strips of wood. Her daughter

had helped her gather the grass and she used a flint-edged knife to strip the bark from nearby trees. She soaked the wood strips in water from a stream to make them bend more easily as she wove. The passage above is a description of… a) … the productive resources needed to make woven baskets. b) … the opportunity costs for the production of a woven basket. c) … how an entrepreneur organized her productive resources to make woven baskets. d) … the risks an entrepreneur encountered as she worked to make a profit from weaving baskets.

7) Bob Evans began making and selling sausages just after World War II. He used the best parts of his hogs in

his sausage. He put the pork tenderloins, the pork chops, and the hams into his product. Other sausage makers chose not to add the best cuts of pork to their sausages.

Which of the following economic ideas does this passage about Bob Evans best demonstrate? It shows…

a) … how he used money to buy goods, services and resources. b) … how he organized his productive resources to make sausage. c) … why his sausage company depends on markets in foreign countries. d) … how he took a risk to try to make a profit.

8) In 1884 angry coal miners went on strike against the New Straitsville Mining Company in Perry County,

Ohio. They started a fire inside a mine that could not be put out. Millions of dollars worth of coal burned up. By 1936 – over fifty years after the fire was first set – twelve square miles of underground coal had burned.

This story describes…

a) … a risk the mine owners faced while they were trying to earn a profit. b) … the productive resource needed to make glass for Ohio’s glass industry. c) … the opportunity cost of choosing to mine coal rather than mining clay. d) … specialization and how it lead to more income, goods, and services for Ohio coal miners.

C. Markets: Explain how competition affects producers and consumers in a market economy and why specialization facilitates trade. 9) Which of the following explain a way in which Ohioans earn income? Some Ohioans…

a) … are paid money for manufacturing products for trade. b) … spend their income on food, shelter, clothing, health care, and recreation. c) … are paid money for providing services for others. d) … earn a profit by creating new goods or by beginning new services.

History from the Ohio Hills 70 S04 Economics

10) By 1900, large factories bought fruit and vegetables and packed them into tin cans and glass jars to preserve them. Ohio glass factories made glass jars. They also made drinking glasses, bottles, plates, and window glass. This is an example of:

a) Distribution b) Production c) Consumption d) Transportation

11) Flint Ridge is about eight miles long and it is located in Licking and Muskingum counties. Flint Ridge flint

has bright colors that most flint does not have - red, pink, yellow, blue, and green. Both prehistoric and historic American Indians mined flint at Flint Ridge. They traded the flint for goods from as far away as the Rocky Mountains (obsidian) and the Atlantic Ocean (sea shells). Which of the following explain why Native Americans specialized in the trade of this productive resource?

a) The flint had colors that most flint does not. b) The flint was found only in a small area. c) Many different kinds of flint are made into cutting tools and weapons. d) Flint is a common kind of stone that can be found in many areas of the United States.

12) Copper is a metal found in nature. Copper is long lasting but it is soft and easy to form into new shapes.

Hopewell artists flattened copper with stone hammers, cut it into detailed shapes with flint knives, and made beautiful jewelry or ornaments. However, the Hopewells could not find the copper they needed near by. The copper deposits were many days of travel away from where the Ohio Hopewells lived. Which of the following statements is the most accurate economic outcome of the information in the above passage?

a) There was specialization and trade in copper because people wanted to have it but it was not found

everywhere. b) Hopewell artists made copper jewelry and ornaments as a voluntary service to promote the common good. c) Hopewell copper jewelry and ornaments were sold in foreign markets in countries such as Great Britain

and France. d) Hopewell entrepreneurs built factories to make and sell thousands of copies of the most popular pieces of

jewelry. 13) During the early and mid 1800s, steamboats became a popular way to transport people and goods. So many

trees were cut down to fuel the steamboats that a new resource had to be found to replace the trees as a fuel. Which of the following productive resources replaced wood as a fuel for steamboats?

a) Solar power from the sun b) Oil c) Coal d) Geothermal power from inside the earth

History from the Ohio Hills 71 S04 Economics

14) Some of Ohio’s productive resources are disappearing due to overuse. Which one of these resources is NOT in danger of disappearing?

a) Coal b) Natural gas c) Water d) Oil

15) Which of these productive resources is used to make both glass and concrete?

a) Coal b) Flint c) Sand d) Gypsum

History from the Ohio Hills 72 Economics Vocabulary Quiz 1

Economics Vocabulary Quiz 1

Name:

Date: Directions: Write the letter of the definition in the box before the word it defines.

Use capital letters.

1. capital goods A. the passing out, sharing or delivering of goods to people or an area

2. consumption B. the buying and using of goods and services

3. distribution C. the exchange of goods, services, and resources between buyers and

sellers

4. economic D. a person who sets up and puts money into the making of goods or

services in order to make a profit

5. entrepreneur E. human-made materials needed to produce goods and services -

Examples: buildings, machinery, equipment and tools

6. market F. capital goods, human resources, and natural resources

7. production G. being an expert on one job, product or service; producing only a

few products instead of many different products

8. risk

H. having to do with the production and consumption of goods and services for an entire community (or area) when looked at as a whole

9. productive resources I. the danger that an injury, damage, or loss will happen

10. specialization J. the putting together of natural, human and capital resources to

make either a good or a service

History from the Ohio Hills 73 Economics Vocabulary Quiz 1

Economics Vocabulary Quiz 1 • Answer Key Directions: Write the letter of the definition in the box before the word it defines. Use capital letters.

E 1. capital goods A. the passing out, sharing or delivering of goods to people or an area

B 2. consumption B. the buying and using of goods and services

A 3. distribution C. the exchange of goods, services, and resources between buyers and

sellers

H 4. economic D. a person who sets up and puts money into the making of goods or

services in order to make a profit

D 5. entrepreneur E. human-made materials needed to produce goods and services -

Examples: buildings, machinery, equipment and tools

C 6. market F. human resources, capital goods, and natural resources

J 7. production G. being an expert on one job, product or service; producing only a

few products instead of many different products

I 8. risk

H. having to do with the production and consumption of goods and services for an entire community (or area) when looked at as a whole

F 9. productive resources I. the danger that an injury, damage, or loss will happen

G 10. specialization J. the putting together of natural, human and capital resources to

make either a good or a service

History from the Ohio Hills 74 Economics Vocabulary Quiz 2

Economics Vocabulary Quiz 2

Name:

Date: Directions: Write the letter of the definition in the box before the word it defines.

Use capital letters.

1. consumer A. the total income from a good or a service minus the total costs of

its production

2. demand B. things made for sale or for use that can be seen and touched -

Examples: ice cream, piano, car, cell phone, hearing aide

3. income C. to make

4. profit D. the activity of buying and selling or bartering of goods and services

5. services E. to spend time on just one interest, skill, or subject

6. trade F. person who buys and/or uses goods and services

7. opportunity cost G. the amount of money coming in - either as payment for goods or

services, from earning a profit, or as gifts

8. goods

H. actions that people do for others; actions that are consumed at the instant they are produced. Examples: cutting hair, teaching school, waiting on a customer in a store or restaurant, fighting fires

9. specialize

I. the value of what a person must give up in order to get something else; the value of the next best choice that is given up when a decision is made

10. produce

J. the amount of wanting or needing that exists for a good or a service, the number of consumers who want and are able to buy a good or a service

History from the Ohio Hills 75 Economics Vocabulary Quiz 2

Economics Vocabulary Quiz 2 • Answer Key Directions: Write the letter of the definition in the box before the word it defines. Use capital letters.

F 1. consumer A. the total income from a good or a service minus the total costs of

its production

J 2. demand B. things made for sale or for use that can be seen and touched -

Examples: ice cream, piano, car, cell phone, hearing aide

G 3. income C. to make

A 4. profit D. the activity of buying and selling or bartering of goods and services

H 5. services E. to spend time on just one interest, skill, or subject

D 6. trade F. person who buys and/or uses goods and services

I 7. opportunity cost G. the amount of money coming in - either as payment for goods or

services, from earning a profit, or as gifts

B 8. goods

H. actions that people do for others; actions that are consumed at the instant they are produced. Examples: cutting hair, teaching school, waiting on a customer in a store or restaurant, fighting fires

E 9. specialize

I. the value of what a person must give up in order to get something else; the value of the next best choice that is given up when a decision is made

C 10. produce

J. the amount of wanting or needing that exists for a good or a service, the number of consumers who want and are able to buy a good or a service

History from the Ohio Hills 76 Income and Expenses

Economics: Income and Expenses Directions:

• Read each sentence below. Decide if the sentence tells about a way that people in Ohio earn money or about a way that they spend money on goods and services.

• Cut out each sentence strip and paste it under the correct area on the second page of this worksheet.

Some Ohioans work in factories making steel, rubber, glass, or food products.

Some Ohioans watch TV, heat and/or cool their homes, or drive their cars.

Some Ohioans teach school, deliver the mail, or sell products in stores.

Some Ohioans start up a new business, plant, or factory.

Some Ohioans raise crops or livestock and sell them.

Some Ohioans purchase clothes or shoes.

Some Ohioans mine coal or cut down trees.

Some Ohioans make payments on cars, new HD televisions, or cell phones.

Some Ohioans invent new products that other people buy.

Some Ohioans go to the movies, to music concerts, or out to eat.

Some Ohioans earn interest by saving money in a bank.

Some Ohioans drive trucks to deliver goods to markets.

Some Ohioans buy groceries and clothes.

Some Ohioans attend a two-year college, a four-year college, or a university.

Some Ohioans are given gifts of money for a birthday or other celebration or holiday.

Some Ohioans give presents to friends or relatives.

Some Ohioans go to the doctor, to the hospital, or get medicine at a drug store.

History from the Ohio Hills 77 Income and Expenses

Economics: Income and Expenses

Name: Date: Income – Paste sentences here if they are about a way people in Ohio earn money. EXPENSE – Paste sentences here if they are about how people in Ohio spend money.

History from the Ohio Hills 78 Income and Expenses

Economics: Income and Expenses • Answer Key Directions:

• Read each sentence below. Decide if the sentence tells about a way that people in Ohio earn money or about a way that they spend money on goods and services.

• Cut out each sentence strip and paste it under the correct area on the second page of this worksheet. INCOME: Ways people in Ohio earn money.

S o m e O h i o a n s … work in factories making steel, rubber, glass, or food products.

… teach school, deliver the mail, or sell products in stores.

… raise crops or livestock and sell them.

… mine coal or cut down trees.

… invent new products that other people buy.

… earn interest by saving money in a bank.

… drive trucks to deliver goods markets.

… are given gifts of money for a birthday or other celebration or holiday.

EXPENSE: Ways people in Ohio spend money.

S o m e O h i o a n s … watch TV, heat and/or cool their homes, or drive their cars.

… start up a new business, plant, or factory.

… purchase clothes or shoes.

… make payments on cars, new HD televisions, or cell phones.

… go to the movies, to music concerts, or out to eat.

… buy groceries and clothes.

… attend a two-year college, a four-year college, or a university.

… give presents to friends or relatives.

… go to the doctor, to the hospital, or get medicine at a drug store.

History from the Ohio Hills 79 Resources & Specialization

Economics: Productive Resources and Specialization

Name: Date:

Directions: For each question, study the information on the right then answer the question on the left. There may be more than one correct answer for questions that show multiple possible answers.

Question #1 Which of the possible answer(s) is/are the most accurate economic outcome of the information in the passage? Answer #1

Copper is a metal found in nature. Copper is long lasting but it is soft and easy to form into new shapes. Prehistoric Hopewell artists flattened copper with stone hammers and cut it into detailed shapes with flint knives. The Hopewells made beautiful jewelry or ornaments. However, the Hopewells could not find the copper they needed near by. The best copper deposits were many days of travel away from where the Ohio Hopewells lived.

Possible answers: There was specialization and trade in copper because people wanted to have it but it was not found everywhere. Hopewell artists made copper jewelry and ornaments as a voluntary service to promote the common good. Hopewell copper jewelry and ornaments were sold in foreign markets in countries such as Great Britain and France. Hopewell entrepreneurs built factories to make and sell thousands of copies of the most popular pieces of jewelry.

Question #2 Based on the availability of clay and sand/gravel in Ohio, which resource probably brings more goods and services to the citizens of our state? Answer #2

Clay

Sand and Gravel

History from the Ohio Hills 80 Resources & Specialization

Question #3 A. What was Ohio’s rank (1st, 2nd, 3rd, 4th, or 5th) in the value of sand and gravel in 2006? B. Write the value in words. Answer #3A: Answer #3B:

Construction Sand & Gravel Production • 2006

Top 5 States Metric Tons Used or Sold Value

Arizona 83,700,000 $550,000,000 California 160,000,000 $1,530,000,000 Michigan 64,600,000 $262,000,000 Nevada 47,700,000 $227,000,000 Ohio 48,000,000 $289,000,000

Source: USGS Iron Ore Statistics and Information – 2006 Yearbook

Question #4 Read the quotations taken from the 1892 newspaper article. Choose the best title for the story from the list below the story. Answer #4

Part of a Newspaper Article from 1892 “Thirty or forty years ago Ohio [was] second to Pennsylvania among the iron ore producing states.” “In 1870 Ohio fell to third. In 1880 Ohio’s rank was fifth. In 1889 she was eleventh in rank.” “Two years ago eleven counties in the State [of Ohio] mined some [iron] ore. In 1890 there were [only] five [counties] and three of them [mined ore] in quantities too small to consider.” “Whatever [has caused] the problem, men who [know all of] the facts unite in [saying] that the iron mining is becoming a dead industry [very quickly] in Ohio.”

Possible titles: Ohio Ranks 11th in Iron Mining Ohio Leads in Iron Mining A Dying Industry in Ohio Ohio Just Behind Pennsylvania

History from the Ohio Hills 81 Resources & Specialization

Question #5 Which of the possible answers describe what probably happened in southeastern Ohio because of the decrease in coal production? Answer #5:

Between 1960 and 2000 the amount of coal that was mined in southeastern Ohio decreased because most of it had already been mined. The coal that was left was hard to reach.

Possible answers:

Trade and the production of goods using coal increased.

Trade increased but the production of goods using coal decreased.

Trade and the production of goods using coal decreased.

Trade and the production of goods using coal stayed the same.

Question #6 Which of the possible answers explain why Native Americans specialized in the trade of the productive resource – Flint Ridge Flint? Answer #6

Flint Ridge is about eight miles long. It is located in Licking and Muskingum counties. Flint Ridge flint has bright colors that most flint does not have - red, pink, yellow, blue, and green. Both prehistoric and historic American Indians mined flint at Flint Ridge. They traded the flint for goods from as far away as the Rocky Mountains (obsidian) and the Atlantic Ocean (sea shells). Today, Flint Ridge flint is polished to make jewelry. It is Ohio's gemstone.

Possible answers: Flint is a common kind of stone that can be found in many areas of the United States. Many different kinds of flint are made into cutting tools and weapons. The flint was found only in a small area. The flint had colors that most flint does not.

History from the Ohio Hills 82 Resources & Specialization

Economics: Productive Resources and Specialization Answer Key

1. Which of the possible answers is/are the most accurate economic outcome of the information in the passage?

Copper is a metal found in nature. Copper is long lasting but it is soft and easy to form into new shapes. Prehistoric Hopewell artists flattened copper with stone hammers, cut it into detailed shapes with flint knives. The Hopewells made beautiful jewelry or ornaments. However, the Hopewells could not find the copper they needed near by. The best copper deposits were many days of travel away from where the Ohio Hopewells lived. There was specialization and trade in copper because people wanted to have it but it was not found everywhere.

2. Based on the availability of clay and sand/gravel in Ohio, which resource probably brings more good and

services to the citizens of our state?

The sand and gravel production map shows many more locations where sand and gravel are produced than the clay production map. It is likely that sand and gravel production brings more goods and services to the citizens of our state.

3. A. What was Ohio’s rank (1st, 2nd, 3rd, 4th, or 5th) in the value of sand and gravel used or sold in 2006?

B. Write the value in words. A. 3rd. The value of Ohio’s 2006 sand and gravel production ranked #3rd of the top 5 states. B. $289,000,000 in words is two hundred eighty-nine million dollars.

4. Read the quotations taken from the 1892 newspaper article. Choose the best title for the story from the list

below the story.

A Dying Industry in Ohio. The title of the original article is “A Dead Industry in Ohio.” Download a PDF file of the entire article from the New York Times Archives: http://query.nytimes.com/gst/abstract.html?res=9A03E5D91631E033A25751C2A9649C94639ED7CF

5. Which of the possible answers describe what probably happened in southeastern Ohio because of the

decrease in coal production? Between 1960 and 2000 the amount of coal that was mined in southeastern Ohio decreased because most of it had already been mined. The coal that was left was hard to reach. Trade and the production of goods decreased.

6. Which of the possible answers explain why Native Americans specialized in the trade of the productive

resource – Flint Ridge Flint?

Flint Ridge is about eight miles long. It is located in Licking and Muskingum counties. Flint Ridge flint has bright colors that most flint does not have - red, pink, yellow, blue, and green. Both prehistoric and historic American Indians mined flint at Flint Ridge. They traded the flint for goods from as far away as the Rocky Mountains (obsidian) and the Atlantic Ocean (sea shells). The flint was found only in a small area. The flint had colors that most flint does not.