Summary: Who Are Producers? - PDF document

Summary: Who Are Producers? CHAPTER 10, LESSON 1 Producers Work Goods are things that can be bought.Producers make and sell many kinds of goods.A farmer who grows crops is a producer.Other producers make cars or bridges. Producers provide services,too.Bankers and firefighters are producers.They provide services for other people to buy or use. Producers sell their goods and services to consumers.Many producers specialize.This helps them do a better job of providing goods or services that people want.For example,an eye doctor learns special skills to help people see better. Fr ee Enterprise Producers can make or do almost anything they want,and consumers can buy what they want.The right to make these choices is called free enterprise. Producers think about what consumers want and the price consumers will pay.Then they make a supply.When the price is high,producers usually make more things.They may also provide more services.When the price is low,producers usually make less. Consumers create demand for goods and services.When prices are high,consumers buy less. W hen prices are low,consumers buy more. Find and underline each v ocabulary word. producer noun , someone who makes and sells goods or services consumer noun , someone who buys the goods or services sold by a producer supply noun , the amount producers will make for a certain price demand noun , the amount consumers are willing to buy for a certain price Why do producers specialize? Underline the sentence that tells you the answer. At higher prices,will consumers want to buy more or less of a good or service? Circle the sentence that tells you the answer. REVIEW REVIEW 27 Resources for Reaching All Learners Copyright ©Houghton Mifflin Company. All rights reserved. Use with Communities, pp.286…289 NameDate 57353_U05_IAS pp4 3/10/04 3:09 PM Page 27 Summary: Who Are Producers? CHAPTER 10, LESSON 1 Producers WorkGoods are things that can be bought.Producersmake and sell many kinds of goods.A farmer whogrows crops is a producer.Other producers makecars or bridges.Producers provide services,too.Bankers andfirefighters are producers.They provide services forother people to buy or use.consumers.Many producers specialize.This helpsthat people want.For example,an eye doctor learnsspecial skills to help people see better.ee Enterprisewant,and consumers can buy what they want.Theenterprise.the price consumers will pay.Then they make asupply.When the price is high,producers usuallymake more things.They may also provide moreservices.When the price is low,producers usuallymake less.services.When prices are high,consumers buy less.hen prices are low,consumers buy more. Find and underline eachocabulary word.Why doproducers specialize?Underline the sentencethat tells you theanswer.prices,will consumerswant to buy more orservice? sentence that tells youthe answer. REVIEW REVIEW Copyright ©Houghton Mifflin Company. All rights reserved.Communities,pp.286…289 NameDate 57353_U05_IAS pp4 3/10/04 3:09 PM Page 27