Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic...
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Transcript of Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic...
![Page 1: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/1.jpg)
Unit 3Bishop - 2012
![Page 2: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/2.jpg)
Materials or substances that occur in nature and can be used for economic gain $$
Examples: Minerals Water Trees Fertile land / soil Oil
![Page 3: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/3.jpg)
A resource that can be replenished or grow back in a short period of time
Examples: Sunlight Air Wind Ocean - waves
![Page 4: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/4.jpg)
Any natural resource from earth that exists in limited supply and can’t be replaced if it is used up
Examples: Minerals Oil Coal
![Page 5: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/5.jpg)
Small supply of something Not enough of something Shortage
![Page 6: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/6.jpg)
When we use a resource we make sure the we do not use it all up or permanently damage it.
Ways to be sustainable:
Recycle Bike, bus, walk Save electricity Plant trees
![Page 7: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/7.jpg)
Import – Goods or services bought from another country
Export – Goods and services sold to another country
![Page 8: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/8.jpg)
Supply – Is the amount of
something that is available to sell
Demand – Is the number of
people who want it
![Page 9: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/9.jpg)
Supply is how much of an item there is. For instance, if a store has 10 toy cars to sell, their supply is 10.
Demand is how many people want to buy something. If 10 people go to that store to buy one of those toy cars, everyone will get one?
What if 12 people want to buy the toys then what do you think that will do to the price? Up or Down?
![Page 10: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/10.jpg)
Flower shops across the United States sell roses year round but every February the price increases just before Valentines Day. Why? Is the demand high or low?
Suppose a freeze killed half of the rose crop just before Valentines Day;
So the supply is up or down? Would this freeze effect the demand for
roses? how would this effect the price of roses? The price would go up or down? What other “industry” might this effect if half
of the roses die? Why?
![Page 11: Unit 3 Bishop - 2012. Materials or substances that occur in nature and can be used for economic gain $$ Examples: Minerals Water Trees Fertile.](https://reader036.fdocuments.net/reader036/viewer/2022062321/56649eab5503460f94bb137d/html5/thumbnails/11.jpg)