Kidsville NewsKidsville News
Menu

  • Home
  • About Kidsville News
  • Kids
    • Letter From Truman
    • Conservation Corner
    • Cool Kind Kid
    • Kidsville Connections
    • Kidsville Kitchen
    • Space Place
    • What’s It Like To be
    • Where in the World
    • Story Time with Truman
  • Parent/Teachers
    • Resources for Teachers and Parents
  • Contact Us
  • Become a Publisher

Consumers and Producers

Consumers and Producers

CategoriesKids / Kidsville Connections

kidsville

December 1, 2014

0 0

Share this post

Last month when we studied the food chain, we learned that there were producers (plants and animals that fed the food chain) and consumers (the animals that ate the producers.) In our economy, there are also producers and consumers, and, believe it or not, the relationship between producers and consumers in the economy is not that different from in the wild. Let’s check it out!

aroundProducer
[pruh-doo-ser] noun

1. a person who produces.
2. Economics: a person who creates economic value, or produces goods and services.

Your birthday is coming up, and you want a new bicycle. Can you make your own bicycle? Probably not. So, you go to the store and pick out the perfect bicycle. In this case, it’s bright red with big tires. The store where you bought your bike did not make it. They bought it from another company. That company probably didn’t make all the parts of your bike either.

One company produced the metal that goes into your bike frame. Another company produced the tires. A new company produced the seat, and yet another company produced the paint. Finally, a company gathered all of those pieces together and created your bike. At a minimum, there were five producers who worked to create that great bike you got for your birthday.

Along the way, each company got paid for its part in creating the materials to make your bike. Then their employees (the people who work for them) were paid for doing the work to make the parts and pieces of your bike. In turn, those employees used the money they were paid to pay for their houses, their cars, their clothes, their food and maybe even a bike for their child’s birthday. The producers then became consumers — just like you.

Consumer
[kuh n-soo-mer] noun

1. a person or thing that consumes.
2. Economics: a person or organization that uses a commodity or service.

Goods are items you can actually touch and include things like clothing, food or toys. Services include bike repairs, receiving a haircut or your house being supplied with electricity. These are services provided to consumers by others.

The interactions between producers and consumers not only keep people happy because they have jobs and they have the things they want, but it also puts money into the economy, which is defined as the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.

With that in mind, throughout your life, you will be both a producer and a consumer!

Related Post

DECEMBER 31, 2020

What’s It Like To Be |...

Please tell our readers a little bit about yourself, including your name and your...

20

DECEMBER 31, 2020

How To Recognize and Prevent...

Many people are aware of the threat posed by carbon monoxide, or CO. According to the...

10

DECEMBER 31, 2020

Golden Knowledge

While the gold found in North America was usually in the form of dust or very fine...

50

DECEMBER 31, 2020

Hurricanes and Space

The United States had a rough hurricane season this year. Scientists collect information...

20

DECEMBER 31, 2020

Citizen Science

Are you interested in actually participating in the science? Well, citizen science may...

00

DECEMBER 31, 2020

Cultural Connections |...

Charles Christian Nahl Charles Christian Nahl was born in Germany in 1818. He studied as...

20

Categories

  • Around The World
  • Brainworks
  • Parentown KidSmart
  • Parentown KidShape
  • Teachers
  • Resources for Teachers and Parents
  • Parents
  • Come Out and Play
  • Cultural Connections
  • Movie Reviews for Kids by Kids
  • Weather
  • Wildville
  • Uncategorized
  • Story Time with Truman
  • Where in the World
  • What’s It Like To be
  • Space Place
  • Kidsville Kitchen
  • Kidsville Connections
  • Cool Kind Kid
  • Conservation Corner
  • Letter From Truman
  • Kids

© 2021 Kidsville News!, All Rights Reserved.