Our Lady of the Loneliness School, Cantillana (Seville) Year 6

1 We all have needs and wants.

Everybody has their own needs and wants depending on their

age, health, location, occupation, etc.

All the products and services required to cover our needs and

wants are part of the economy.

SPEAKING. Give 2 products or services to cover the needs of

these people. Later, give 2 products/services for their wants:

4-year-old children pregnant women man in a desert

Yeah!

1 There are 3 important elements in the economy:

PRODUCTION DISTRIBUTION CONSUMPTION

LISTENING. Listen to some actions and…

clap if they belong

to production.

whistle if they

belong to

consumption.

tap your feet if they

belong to

distribution.

Economy

sounds

like music.

1 Companies are organizations that provide products or services in

exchange for a profit, but some companies focus on social good.

Companies need different resources:

- Human resources: People who work in companies.

- Material resources: They are necessary to produce or

distribute a product or service: raw materials, tools, machinery,

vehicles, energy, technology, etc.

- Financial resources: The necessary money.

WRITING. Think and write the resources needed in your school:

Human resources:

Material resources:

Financial resources:

summary

ECONOMY

Products and services

to cover our needs and wants

ELEMENTS OF THE ECONOMY

Production

Distribution

Consumption

COMPANIES

Organizations that provide products or

services to cover our needs and wants

RESOURCES

HUMAN

MATERIAL

FINANCIAL

1 There are many types of companies.

Companies can belong to different economic sectors:

- Primary sector: They obtain resources from nature, for example,

agriculture companies.

- Secondary sector: They transform raw materials into products, for

example, a furniture business.

- Tertiary sector. They provide services, for example, a dentist’s office,

a shop, a bus, etc.

LISTENING. Listen and complete this chart in your notebook.

Primary sector Secondary sector Tertiary sector

1 There are many types of companies.

Companies can belong to different economic sectors:

- Primary sector: They obtain resources from nature, for example,

agriculture companies.

- Secondary sector: They transform raw materials into products, for

example, a furniture business.

- Tertiary sector. They provide services, for example, a dentist’s office,

a shop, a bus, etc.

LISTENING. Listen and complete this chart in your notebook.

Primary sector Secondary sector Tertiary sector

Fishing Car factory Library

Farming Paper factory Hospital

Agriculture Clothes factory Post office

My school

belongs to

the Tertiary

sector!

1 Companies can be different sizes:

Small companies: from 1 to 50 workers. Medium companies: from 50 to 250

workers.

Large companies: more

than 250 workers.

1 A company is like a giant puzzle made up of different pieces. All

the pieces are important and necessary. These pieces are called

departments, and they each have a different function.

purchases production human

resources

marketing Accounts management

SPEAKING.

Who is the most

appropriate

person for each

department in

your group?

Explain. I can work in

the

management

department

because I can

coordinate all

the

departments.

summary

ECONOMIC SECTORS

PRIMARY SECTOR obtain resources from nature

SECONDARY SECTOR transform raw materials into

products

TERTIARY SECTOR provide services

COMPANIES ORGANIZATION

PURCHASES PRODUCTION

HUMAN RESOURCES

MARKETING

ACCOUNTS

MANAGEMENT

2 Every day we are exposed to lots of adverts on TV, radio or the

Internet.

Advertising is a way to give information to the public about

products or services.

Most adverts try to persuade us to buy a product or service.

However, some adverts educate, inform or give

recommendations.

LISTENING & SPEAKING. Watch these adverts and say if they

persuade, educate, inform or give a recommendation.

Adverts

are

cool!

2 To create interest in a product, advertising experts use different

techniques:

- Repetition. This makes the product or service familiar to clients.

- Exaggeration. This exaggerates the benefits of a product or

service.

- Association. This associates a product with a famous person, a

popular song or even an emotion.

- Promotions. This offers us discounts, prizes or gifts.

WRITING. Think and write a slogan for one of these inventions

that uses repetition, exaggeration, association or promotion.

Food

cooler

Tissue

paper

hat

2 CONSUMER PROTECTION

Are the things we hear in adverts always true?

Advertising aims to influence consumer behaviour and persuade

consumers to buy products or services.

Sometimes, adverts exaggerate the characteristics of a product

or make a product look different from real life.

For this reason, there are associations who work to protect

consumers from false advertising.

2

- An advertising campaign is a series of actions that aim to

generate interest and demand for a particular product or service.

- Advertising campaigns are created by companies or institutions

through their marketing department or independent marketing

agencies.

- They want to reach a target audience (group of people who

may be most interested in the product or service).

- These campaigns aim to deliver a meaningful and inspirational

message about a product or service, and convince people to buy

it.

- The message normally includes a slogan. This is usually a

simple, memorable statement that represents the product or

service.

- Advertising campaigns can use different types of media:

Print media: newspapers, magazines, banners, posters...

Electronic media. TV, radio, the Internet, emails, etc.

2

summary

ADVERTISING

It gives information about a product or service.

Adverts try to

Persuade Educate

Inform

Give recommendation

Advertising techniques

Repetition

Exaggeration

Association

Promotions

Media

Print

Electronic

3 A long time ago, money didn’t exist. People used an exchange

system called barter.

But people didn’t always have things to use in barters, so it was

difficult to calculate the value of different things. In time, barter

was replaced by money.

SPEAKING. In groups, offer a real object to another group in

exchange for something (barter). Try to calculate the real

value.

I’d give you one pencil case in

exchange for your school bag.

No way! I’d give you 4 rubbers in

exchange for your pencil case.

3 Money is a means of payment that is accepted by buyers and

sellers. Money makes it easier to exchange products or services.

Methods of payment:

Money obtained from paid work or the sale of products or

services is called income.

3 Your income can be spent, saved or invested.

To decide what to do with your income, it is a good idea to

make a budget.

3 Many people choose to keep some of their income to pay their

needs or wants in the future. This money is called our savings.

Generally, people keep their savings in a bank account.

When we deposit our money in a bank, it lends our money to

companies or individuals.

LISTENING, SPEAKING, READING & WRITING.

In groups, calculate Trail’s savings after 12 months and decide

what is she going to use her savings for.

INCOME

€1,200

EXPENSES EVERY MONTH

ELECTRIC-ITY

WATER SUPER-MARKET

PHONE INTERNET OTHER WANTS

€90 €25 €250 €50 €30 €300

3 Many people choose to keep some of their income to pay their

needs or wants in the future. This money is called our savings.

Generally, people keep their savings in a bank account.

When we deposit our money in a bank, it lends our money to

companies or individuals.

LISTENING, SPEAKING, READING & WRITING.

In groups, calculate Trail’s savings after 12 months and decide

what is she going to use her savings for.

INCOME

€1,200

EXPENSES EVERY MONTH

ELECTRIC-ITY

WATER SUPER-MARKET

PHONE INTERNET OTHER WANTS

€90 €25 €250 €50 €30 €300

TOTAL EXPENSES

€745 PER MONTH

SAVINGS IN 12 MONTHS

1200 – 745 = 455 455 X 12 = €5,460

3 INVESTMENTS

When we invest our money, we use it to make a profit.

There are many different types of investments, such as buying

stocks, buying houses, or opening a business. People who invest

their money are called investors.

Sometimes, investments are risky. When we invest our money, it

is possible to make a profit, to make NO money, or to LOSE our

money.

LISTENING &SPEAKING. Choose something to invest in and

explain to your mates why yours is the best investment.

I agree because

I love potatoes!

I think we should invest on a potatoes

company because everybody loves potatoes.

I don’t agree because

I prefer tomatoes.

summary

MONEY, SAVINGS AND INVESTMENTS

MONEY

Methods of payment

Cash Credit card Debit card

Electronic payment

Budget We need to calculate our income and expenses.

SAVINGS They are normally kept in banks.

INVESTMENTS You can

Make a profit

Make NO money

Lose your money

Our Lady of the Loneliness School, Cantillana (Seville) Year 6