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LESSON: MY DADS JOB
Lesson Summary
A young boys imagination takes over as he hears his father talk about
his job as a stock market analyst.
Concept: Specialization
Definition: People specialize when they produce
only some of the goods and services they consume, then trade with others
to get more of the things they want. Specialization increases the
amount of goods and services produced and the amount that people
consume.
People also specialize when they break down
a production task into numerous separate tasks, such as on an assembly
line, or when people in an office setting do different jobs.
Comprehension Questions
What special service does the Dad and his company provide?
He
works for some kind of financial services company, one that specializes in
financial work buying stocks, futures, etc.
Describe what type of team Dad was on.
Dads team was a
group of workers in his company who had special jobs and worked together
to achieve a common goal.
How does your school illustrate a team of workers?
The
people who work at the school all have special jobs and are a part of a
team that deliver education to children teachers, principals,
secretaries, nurses, custodians, etc. Teachers jobs are even more
specialized art and music teachers, gym teachers, math teachers,
etc.
What do we call the people who work to produce goods or
services?
Human resources
What difficult challenge confronted Dad at his job on
Tuesday?
He had to fight off a hostile takeover - a forceful
attempt by one company to take control of another company.
What special kind of job or skills would be necessary to fight off a
hostile takeover?
Lawyers would especially be needed and also
people with special knowledge in dealing with takeover issues.
Non-professional jobs also are important secretaries, business office
workers, etc. It takes a team approach to tackle important
challenges in the world of work!
One concern Dad had in his job was the wild ride the bulls and
bears were giving everyone. Are these real bulls and bears?
Explain.
A bull market is a market where prices are going up; a
bear market is a market where prices are going down.
Explain what buying futures meant in the story?
Futures
markets are where people make a promise to buy a product like orange
juice, coffee, or heating oil at a specific price in the future.
In what way can work be fun?
Although work isnt easy, it
can indeed be fulfilling and enjoyable when challenges are met and goals
are reached.
Extra Credit Question! What do we call the special skills and
training that people (human resources) have that help them in their
jobs?
Human capital
Other Concepts: Markets, Human
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