Lesson plan
Core sphere
Within the field of microeconomics, the "core sphere" of the economy consists of households, families, and community groups that organize the many important economic activities central to sustaining human life. Neva Goodwin of Tufts University outlines the functions of the core sphere to include: * Child bearing and child raising * Care of the sick, elderly, or otherwise needy * The final stage of production of many goods and services * The organization of savings and investment * Allocation of consumption spending * Decisions regarding investing in and maintaining human capital * Decisions regarding the supply of labor services * The organization and use of leisure time These human resources make up the core sphere of the economy, and they play significant roles in our lives. It was noted by Goodwin that if a monetary value were placed on the work generated by the core sphere in the United States, it would add to approximately $3.9 trillion and would account for approximately 30% of the total product. Long before the Industrial Revolution, the core sphere was the entire economy. Families and communities provided for themselves by hunting and gathering. Then with industrialization came a market of competitive men working for wages and along with it what historians call the cult of domesticity.…
Article summary
Within the field of microeconomics, the "core sphere" of the economy consists of households, families, and community groups that organize the many important economic activities central to sustaining human life. Neva Goodwin of Tufts University outlines the functions of the core sphere to include: * Child bearing and child raising * Care of the sick, elderly, or otherwise needy * The final stage of production of many goods and services * The organization of savings and investment * Allocation of consumption spending * Decisions regarding investing in and maintaining human capital * Decisions regarding the supply of labor services * The organization and use of leisure time These human resources make up the core sphere of the economy, and they play significant roles in our lives. It was noted by Goodwin that if a monetary value were placed on the work generated by the core sphere in the United States, it would add to approximately $3.9 trillion and would account for approximately 30% of the total product. Long before the Industrial Revolution, the core sphere was the entire economy. Families and communities provided for themselves by hunting and gathering. Then with industrialization came a market of competitive men working for wages and along with it what historians call the cult of domesticity.…
Key claims
- publication date: 2010 — source: Wikipedia · confidence 0.95
Discussion questions
- Summarise the article in your own words. Which single claim would you verify first, and why?
- The record states that the publication date is "2010". What evidence would count against this claim?
- Which claim in this article is most likely to be revised as the sources update? How would you check its current status?
- If two sources disagreed about one of these facts, what would you need in order to trust one over the other?
Bibliography
- Wikipedia https://en.wikipedia.org/w/index.php?oldid=1280927916
Key claims and bibliography are generated from the same tracked claims and sources as the article page.