“A Picture is Worth a Thousand Words”Economics Poster Contest 2003-4

Sponsored by

Bank of AmericaIllinois Council on Economic Education

UIC Center for Economic Education

Economics Poster ContestBrought to you by the

UIC Center for Economic Education

Presents:

The First PrizeWinners 2003-4

Productive Resources

Production of goods and services in any economic system involves three types of resources: • Natural Resources• Human Resources• Capital Resources

CA

Concept: Productive Resources 8th Grade Hale Elementary School

Goods and Services

Goods are tangible objects desired by consumers and supplied by producers.

Example of goods: cars & books Services are intangible outputs

produced in the economy. Example of a service: teaching

LA

Concept: Goods and Services 5th Grade Healy Elementary School

Scarcity

World resources are limited, so we cannot produce or have everything we could possibly want.

Thus, we must make choices about how best to use the limited resources we have.

SB

Concept: Scarcity 1st Grade Carver Primary

Goods and Services

Goods are tangible objects desired by consumers and supplied by producers.

Example of goods: cars & books Services are intangible outputs

produced in the economy. Example of a service: teaching

VB

Concept: Goods and Services 1st Grade Nathan Hale Elementary

Opportunity Cost

Opportunity Costs are what we give up when a resource is used for one purpose rather than another.

Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

RC

Concept: Opportunity Cost 6th Grade Hitch Elementary

Producers & Consumers

Producers are the people, and/or firms, which make and supply the goods and services provided in the economy.

Consumers use the goods and services produced to satisfy their wants and needs.

LD

Concept: Producers and Consumers

5th Grade Healy Elementary

Opportunity Cost

Opportunity Costs are what we give up when a resource is used for one purpose rather than another.

Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

MG

Concept: Opportunity Cost 6th Grade Ariel Community Academy

Producers & Consumers

Producers are the people, and/or firms, which make and supply the goods and services provided in the economy.

Consumers use the goods and services produced to satisfy their wants and needs.

MM

Concept: Producers and Consumers

5th Grade Curtis Elementary

Specialization

Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best.

Thus, leaving the production of other goods to others.

SM

Concept: Specialization 5th Grade Healy Elementary

Specialization

Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best.

Thus, leaving the production of other goods to others.

DO

Concept: Specialization 6th Grade Nathan Hale Elementary

Scarcity

World resources are limited, so we cannot produce or have everything we could possibly want.

Thus, we must make choices about how best to use the limited resources we have.

AS

Concept: Scarcity 8th Grade Garvey Elementary

Productive Resources

Production of goods and services in any economic system involves three types of resources: • Natural Resources• Human Resources• Capital Resources

KS

Concept: Productive Resources 8th Grade Nathan Hale Elementary

Economics Poster ContestBrought to you by the

UIC Center for Economic Education

Presents:

TheSecond Prize Winners

2003-4

Specialization

Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best.

Thus, leaving the production of other goods to others.

KB

Concept: Specialization 4th Grade Nathan Hale Elementary

Producers & Consumers

Producers are the people, and/or firms, which make and supply the goods and services provided in the economy.

Consumers use the goods and services produced to satisfy their wants and needs.

JB

Concept: Producers and Consumers

3rd Grade Nathan Hale Elementary

Goods and Services

Goods are tangible objects desired by consumers and supplied by producers.

Example of goods: cars & books Services are intangible outputs

produced in the economy. Example of a service: teaching

DC

Concept: Goods and Services 4th Grade William King Elementary

Opportunity Cost

Opportunity Costs are what we give up when a resource is used for one purpose rather than another.

Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

MC

Concept: Opportunity Costs 6th Grade Hitch Elementary

Goods and Services

Goods are tangible objects desired by consumers and supplied by producers.

Example of goods: cars & books Services are intangible outputs

produced in the economy. Example of a service: teaching

BG

Concept: Goods and Services 1st Grade Nathan Hale Elementary

Producers & Consumers

Producers are the people, and/or firms, which make and supply the goods and services provided in the economy.

Consumers use the goods and services produced to satisfy their wants and needs.

JL

Concept: Producers and Consumers

5th Grade Beethoven Elementary

Producers & Consumers

Producers are the people, and/or firms, which make and supply the goods and services provided in the economy.

Consumers use the goods and services produced to satisfy their wants and needs.

EM

Concept: Producers and Consumers

8th Grade Eberhart Elementary

Opportunity Cost

Opportunity Costs are what we give up when a resource is used for one purpose rather than another.

Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

BO

Concept: Opportunity Cost 7th Grade Pershing Elementary

Scarcity

World resources are limited, so we cannot produce or have everything we could possibly want.

Thus, we must make choices about how best to use the limited resources we have.

HQ

Concept: Scarcity 8th Grade Garvey Elementary

Scarcity

World resources are limited, so we cannot produce or have everything we could possibly want.

Thus, we must make choices about how best to use the limited resources we have.

ES

Concept: Scarcity 5th Grade Skinner Elementary

Specialization

Efficiency is increased when individuals, firms, and nations produce the goods and services at which they are best.

Thus, leaving the production of other goods to others.

JT

Concept: Specialization 5th Grade Healy Elementary

Opportunity Cost

Opportunity Costs are what we give up when a resource is used for one purpose rather than another.

Example: If a baker uses a bag of flour to bake bread, she cannot use the same bag of flour to bake cakes.

CZ

Concept: Opportunity Cost 5th Grade Healy Elementary