Economy of the South

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Economy of the South

  1. 1. The South Resources and Economy What snacks do you like? Some people enjoy chicken wings. Others like peanut butter or orange juice. The raw materials for these products are grown in the South.
  2. 2. Production in the South <ul><li>Southerners use resources to produce goods and services </li></ul><ul><ul><li>Example: They use water moving through dams to make electricity. </li></ul></ul><ul><ul><ul><li>Dams show how natural, human, and capital resources work together. In this case, water, people, and machines work together to produce electricity. The Tennessee Valley Authority has 29 dams that make power. </li></ul></ul></ul>
  3. 3. Goods and Services from Natural Resources <ul><li>Rich Soil = cotton fabric, orange juice, peaches, pecans, peanuts </li></ul><ul><li>Waterways = fish sticks, sea salt, boating, water power </li></ul><ul><li>Warm Climate = amusement parks, golf, vacation hotels </li></ul><ul><li>Oil and Gas = gasoline, plastics </li></ul><ul><li>Coal Deposits = coal, electricity </li></ul><ul><li>Forests = paper, lumber </li></ul>
  4. 4. Producers and Consumers <ul><li>Producer: someone who makes or sells goods or services for consumers </li></ul><ul><li>Consumer: someone who buys or uses goods and services </li></ul>
  5. 5. Producers and Consumers Continued… <ul><li>People can be BOTH producers and consumers. </li></ul><ul><ul><li>Example: A manufacturer in North Carolina produces chairs. Before making a chair, the manufacturer will consume, or buy, wood, glue, and labor. The manufacturer is both a consumer and a producer. </li></ul></ul>
  6. 6. Producers and Consumers Continued… <ul><li>The South has many resources that producers can use to make products. </li></ul><ul><li>People grow more peanuts, cotton, rice, and sugar cane here than any other region </li></ul><ul><li>Coal and oil lie below the ground. </li></ul><ul><li>Fish and shellfish live in the waters. </li></ul>
  7. 7. Producers and Consumers Continued… <ul><li>Example of producers: </li></ul><ul><ul><li>Texas produces nearly 5,000,000 bales of raw cotton. </li></ul></ul><ul><ul><li>In other southern states, textile mills spin the cotton to produce cotton yarn. </li></ul></ul><ul><ul><li>Other manufacturers use the yarn to produce cloth, t-shirts, towels, and other cotton products. </li></ul></ul>What factors of production are needed to create cotton t-shirts? -Rich Soil -Cotton plants -Workers in textile mills -T-shirt manufacturers
  8. 8. The Diverse Economy <ul><li>Farming </li></ul><ul><li>Manufacturing </li></ul><ul><li>Service Industries </li></ul><ul><li>Coal Mining </li></ul><ul><li>Tourism </li></ul><ul><li>Government </li></ul>
  9. 9. Farming <ul><li>Texas, North Carolina, Georgia, and Florida rank in the top ten states for farm income. </li></ul><ul><ul><li>Rice </li></ul></ul><ul><ul><li>Cotton </li></ul></ul><ul><ul><li>Tobacco </li></ul></ul><ul><ul><li>Sugar Cane </li></ul></ul><ul><ul><li>Oranges </li></ul></ul><ul><ul><li>Chickens </li></ul></ul><ul><ul><li>Hogs </li></ul></ul><ul><ul><li>Cattle </li></ul></ul>
  10. 10. Manufacturing <ul><li>North Carolina </li></ul><ul><ul><li>Textile Mills (cotton industry) employ 75,000 people. </li></ul></ul><ul><ul><li>Make yarn, cloth, carpets, and rugs </li></ul></ul><ul><li>Alabama, Arkansas, and Georgia </li></ul><ul><ul><li>Millions of acres of forest provide jobs in lumber and paper industries </li></ul></ul>
  11. 11. Coal Mining and Oil <ul><li>West Virginia, Kentucky, and Texas </li></ul><ul><ul><li>Coal helps create power and energy </li></ul></ul><ul><ul><li>Thousands of people work in the oil industry </li></ul></ul>
  12. 12. Aerospace <ul><li>Texas and Florida rank in the top four states </li></ul>
  13. 13. Tourism and Service Industries <ul><li>Many people visit southern states for vacations </li></ul><ul><li>One of the leading service industries in the South is ground and air transportation </li></ul>
  14. 14. Making Economic Choices <ul><li>Consumers decide whether or not to buy something. </li></ul><ul><li>Producers try to provide goods and services that consumers will want to buy. </li></ul><ul><ul><li>They also choose which resources to use and set the prices for their goods and services </li></ul></ul><ul><li>Scarcity affects prices </li></ul><ul><ul><li>If there is a scarcity of something, the price goes up! </li></ul></ul><ul><li>Opportunity Cost : what someone gives up to get something else </li></ul>
  15. 15. Government <ul><li>Hundreds of thousands of southerners work for the government. </li></ul><ul><ul><li>U.S. Government </li></ul></ul><ul><ul><li>Military </li></ul></ul><ul><li>Most live in Texas, Virginia, and Florida </li></ul>
  16. 16. Lesson Summary <ul><li>Producers </li></ul><ul><ul><li>Use resources </li></ul></ul><ul><ul><li>Make choices </li></ul></ul><ul><ul><li>Create goods and services for consumers </li></ul></ul><ul><ul><li>Can also be consumers </li></ul></ul>

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