Goods and services provided by government


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Goods and services provided by government

  1. 1. Goods and Services Provided by Government SOL CE 13b
  2. 2. Warm-Up1. Governments benefit when individuals and businesses make a profit because they will use the tax revenue to — A create more businesses. B place more restrictions on businesses. C provide public goods and services to the community. D discourage other businesses from competing with the successful businesses.2. The type of economy a country has is determined by the — F amount of government involvement in decision making. G number of consumers and producers in the marketplace. H profit motive of its people. J vote of its citizens.
  3. 3. Quiz1. When taxes increase, what happens to consumer spending ?2. When government borrowing decreases, what happens to consumer borrowing?3. When government spending increases, what happens to demand?4. When government spending decreases, what happens to taxes?5. When government lowers taxes, what happens to consumer spending?
  4. 4. SET  “…to promote the general welfare…” What was the founding fathers’ intent? How is that being handled today? Why was there a focus on this concept? How does the government fulfill this goal? Think back to the last class and tell me what are some public goods and services we talked about. What makes these goods and services “public?” Which type of economies has all public goods and services? Why do they provide these services? Today we are going to explore the reasons our government provides these goods and services.
  5. 5. Activity 1Read page 109 in SOL Coach Book and complete Graphic Organizer.
  6. 6. Goods and Services Provided byGovernment E.Q. What types of goods and services do governments provide? How do governments pay for the goods and services they provide?
  7. 7. Goods and Services Provided byGovernment1. Why do businesses provide goods and services? To make a profit.
  8. 8. Goods and Services Provided byGovernment2 . What things does society need that businesses cannot easily provide?  Examples would include national defense (The armed forces), law enforcement, etc.
  9. 9. Goods and Services Provided byGovernment Governments must PAY ______________ for goods and services they PROVIDE ____________________.
  10. 10. Goods and Services Provided byGovernment1.What is the primary way that governments raise the funds to pay for goods and services?  Income taxes are the largest source of revenue (amount coming in for the federal government).
  11. 11. Goods and Services Provided byGovernment What is income tax? A tax on the amount of an individual’s wages or a business’s profits. What is a sales tax? Taxes added to the price of a good or service when it is sold.
  12. 12. Goods and Services Provided byGovernment What is a property tax? When people pay tax on the value of certain property they own, such as land and houses.
  13. 13. Goods and Services Provided byGovernment How does the government borrow money? A bond is a government’s promise to repay a loan at a later date. The federal government borrows money by selling different types of Treasury bonds. State, city, and local governments sell municipal bonds.
  14. 14. Goods and Services Provided byGovernment Explain how individuals pay for the goods and services provided by governments. Individuals pay for goods and services provided by governments through taxes: income tax, property tax, or sales tax.
  15. 15. What types of goods and services dogovernments provide? Provide benefits to many simultaneously Would not likely be available if individuals had to provide them Include such things as interstate highways, postal service, and national defense
  16. 16. How do governments pay for the goods andservices they provide? Through tax revenue Through borrowed funds Through fees (e.g., park entrance fees)
  17. 17. Word Wall Activity Vocabulary Chain Game When the word is selected, you must provide the definition of the word. You must also relate it to the last word. OR you can choose two previous words to relate your word to.
  18. 18. HonorsCreate a crossword, including hints using 15 of the vocabulary words.
  19. 19. Closure: Exit TicketWhat should an expert in civics know about Public Goods and Services. List the top 5.