Business Economics in the
Human Services Industry
Practicum in Human Services
Copyright
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Human Services Career Pathways
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Aspects of Industries and Careers
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The Economic System
The economic system involves:
• distribution of economic outputs
• financial institutions
• government policies
• households investments
• land availability
• production
• the allocation of economic inputs
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General Economic Systems
The economic systems include:
• Barter economy
• Command economic systems
• Gift economy
• Market economy
• Participatory economics
• Planned economy
• Traditional economy
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Common Economic Systems
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Command
Free market
Mixed
Traditional
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Types of Economic Systems
(click on image)
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Supply and Demand
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Supply and Demand
(click on image)
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Determinants of Supply and Demand
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The Business Cycle
Expansion
(boom)
Peak
Trough
Contraction
(recession)
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Recession Stage
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Expansion Stage
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Types of Business Organizations
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Corporation
Limited liability company (LLC)
Partnership
S corporation
Sole proprietorship
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Structures within Each Business
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Management of Products and Services
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Quality-control Systems for
Goods and Services
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Government Involvement
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Competition
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Spending Decisions
What?
Where?
Which item
From what source
To buy or not to buy
How to pay
Planned purchase
When?
Unplanned or
Impulsive
How?
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References and Resources
Images:
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All photos obtained through a license with Shutterstock.com™.
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Bureau of Labor Statistics
Websites:
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Bureau of Labor Statistics
Employment Projections — 2012-2022
http://www.bls.gov/news.release/pdf/ecopro.pdf
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Small Business Administration
Starting a small business
https://www.sba.gov
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Small Business Administration
Strategic Planning for Small Businesses online course.
https://www.sba.gov/tools/learning-center-view-course/1387291
YouTube™:
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Supply and Demand
If you’ve only heard of one economics concept, it’s probably supply and demand. The video
contains the 2-minute version of what supply and demand consist of.
https://youtu.be/8-yWKgZv9JY
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UniversityNow: Types of Economic Systems
Nearly every society in the world bases same fundamental problem how to distribute limited
resources to people in a way that will be fair.
https://youtu.be/5xgwYRX19VU
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