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Identify the Three Economic Sectors
Lesson 1:
Purpose:
To introduce the idea of the three economic sectors in the United States and explain how these three sectors work to accomplish different goals in society.
Duration:
One Fifty-Minute Class Period
Objectives:
The learner will:
- Name the three economic sectors in the United States.
- Identify and categorize organizations and groups within these sectors.
- Analyze why these three groupings are necessary in the development of our society.
Materials:
- Definitions of the Three Economic Sectors (see Attachment One)
- Sector Circles (see Attachment Two)
- Overhead transparency of Attachment Two: Sector Circles
Instructional Procedure(s):
Anticipatory Set:
Ask students to think about who is responsible for getting things done in an orderly manner in our society. Have them write a journal entry to begin their thought process on this topic.
- After students have completed their writing, discuss the journal entry with the students and list some of their ideas on the board. (These ideas can be added later into the assignment associated with Attachment One: Definitions of the Three Economic Sectors.)
- Give each student Definitions of the Three Economic Sectors (see Attachment One). Read over the information with students stopping to discuss each of the three sectors in detail so that they understand the difference between the three.
- When done, using the list from the journals, quickly identify to which group each item on their list fits. This will not only check for student understanding, but will give students an example for the next portion of their assignment.
- Divide students into groups of three. Using the organization list in Sector Circles (see Attachment Two), ask the student groups to place the organizations into the correct sector circle. Explain that in some cases some organizations may fit into more than one grouping and then they should go into the areas that connect both circles. (To make the organizational list more interesting, substitute your community's local organizations.) Once students have completed the assignment, have them describe where they placed the different groups and why. Write their answers on the overhead of Attachment Two.
- Keeping in mind the examples, ask students to analyze why these three groupings are/were necessary in the development of our society. How would life in this society be different if the three sectors had not developed?
Assessment:
- Test for understanding with the placement of items on the overhead. If it appears that students were confused with placement, add three extra groups and have the students place those ones again and check for understanding.
- In their journals, ask students to name the three sectors of the economy and analyze, in their own words, why these three groupings are necessary to the development of our society.
Bibliographical References:
Definitions of the Three Economic Sectors, and Sector Circle assignment taken from Dr. Mark Wilson's lecture notes at the Learning To Give Project's Seminar on Nonprofit Economics and Geography: The Four Sector Economy: Unit 3. Fall, 1999, Harley Hotel, East Lansing, Michigan.
Lesson Developed and Piloted by:
Gita GemutsJackson Public Schools
Jackson High School
Jackson, MI 49201
Handouts:
Handout 1Print Handout 1
Definitions of the Three Economic Sectors
For Profit Firms:
- They make and sell private goods and services.
- Their ultimate goal is to make a profit in selling or making goods and services.
- The "market" (supply, demand, buyers, sellers) influences their decisions.
- They work towards customer satisfaction.
- Customers voluntarily pay to purchase their goods or services.
- They are able to give the buyer what he or she wants at the lowest cost possible (while still making a profit).
- They will not take on unprofitable activities.
Government:
- It provides public goods*, or services that are needed by the public (national defense, parks, etc.).
- It can regulate the for profit firms (e.g., trust-busting, environmental requirements, etc.).
- It can control areas of society through taxes/fees (e.g., public schools receive funding through taxes).
- Its focus should be on serving the needs of the nation and the people.
Nonprofit Organizations:
- They can provide public goods or services needed by the public.
- They can provide private goods.
- These organizations receive trust from those receiving the service and those supporting the service.
- Funding comes from voluntary giving of their supporters or grant funding.
- Their main focus is to accomplish organizational goals and break even with money coming in but no profit.
* Public goods There are two characteristics of public goods:
- Nonexcludability: consumers cannot be prevented from using or benefiting from it.
- Nonrivalry: one person's use does not reduce the amount available for use by others.
Handout 2Print Handout 2
Sector Circles
Directions: Place the organizations from the list into the correct circle.
| State Department of Education | Municipal Golf Course |
| Michigan Education Association | Food Stamps/WIC |
| Sylvan Learning Center | Olive Garden Restaurant |
| Churches | Consumers Energy |
| Doctors | Jackson Prison |
| Interfaith Shelter | Shelters |
| Hospital | Red Cross |
| Lawyers | High School |
| Courthouse | Library |
| ACLU (American Civil Liberties Union) | Police |
| City Park | Michigan Department of Transportation |
| County Museum | Michigan State University |
Unit Contents:
Overview:Environmental Groups and the Three Economic Sectors Summary
Lessons:
- 1.
- Identify the Three Economic Sectors
- 2.
- Match the Environmental Group with the Correct Sector
- 3.
- Nonprofit Environmental Groups
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