Lesson 11 start C4

• Economie
• Middelbare school
• havo
• Leerjaar 3

Welcome t3!

Economics: lesson 11

Plan today

1. Start chapter 4

2. Lesson goals + explanation

3. Homework

Chapter 4: production

Paragraph 4.1: Production

Paragraph 4.2: Costs

Paragraph 4.3: Turnover and profit

Goals of paragraph 4.1

1. You know what is meant when people talk about producing.

2. You know how a supply chain works and you can calculate the added value from this.

3. You know the difference between a trading company, a production company and a service company.

4. You can calculate labour productivity.

Producing

Consuming 

Self-sufficiency

Producing

Cycle

(Money, labour, good and services)

What do you need to produce?

All companies that participate in the production of

a product belong to the supply chain.

Every company in the supply chain adds something to the product, the added value. You calculate this by subtracting the selling price by the purchase price.

What do you need to produce?

The resources needed to add value are the factors of production:

Capital: Machinery, buildings, tools, money, etc. to make and sell products

Labour: The employees who do the work

Nature: Anything that comes from nature, such as wood

Entrepreneurship: The entrepreneur combines the top three to make money 

Produce or trade?

Trading company:

 buys products that are sold again without being changed.

Production company: 

buys raw materials and turns them into products that are sold to customers.

Service company:

provides a service.

Labour productivity

The amount of products / services that a worker can produce in a given time.

Higher labour productivity leads to lower costs per product, because you spread the same costs over more products

Goals of paragraph 4.1

1. You know what is meant when people talk about producing.

2. You know how a supply chain works and you can calculate the added value from this.

3. You know the difference between a trading company, a production company and a service company.

4. You can calculate labour productivity.

Glossary words

Let's get down to bussines

• What: Do exercises 1,2,4,5,7,8,10,12 (so skip 3,6,9 and 11)

• Purpose: To process what we learned today about production

• Done?:Work on another subject.