Board Foot: Measurement used to describe wood volume in the U.S.; volume equal to one foot by one foot by one inch. Circular Flow: A simplified economic model that illustrates the relationships between households, businesses, and government. Competition: An attempt by two or more individuals to buy or sell the same goods or services; competition exists between buyers and between sellers. Consumer: The buyer of goods and services. TERMS TO KNOW
Transcript
Board Foot: Measurement used to describewood volume in the U.S.; volume equal to onefoot by one foot by one inch.
Circular Flow: A simplifi ed economic modelthat illustrates the relationships betweenhouseholds, businesses, and government.
Competition: An attempt by two or moreindividuals to buy or sell the same goods orservices; competition exists between buyersand between sellers.
Consumer: The buyer of goods and services.
TERMS TO KNOW
Cost of Production: The price paid bybusinesses to produce goods and servicesand get them to consumer markets.
Demand: The quantity of a good or servicethat consumers are willing and able to buy ata specifi c price.
Forest Management: The use of techniques(e.g., planting, harvesting) to promote, conserve,or alter forests to meet desired outcomes.
Forest Product: An object produced fromforest resources for sale to a consumer.
TERMS TO KNOW
Forest Services: The social and environmentalbenefits that forests provide humans.
Forest Values: Social, economic, and ecologicworth given to forests.
Free Market: A general term for all the monetaryexchanges that take place in a society; eachexchange is undertaken as a voluntary (free)agreement between two people.
TERMS TO KNOW
Grade: The classifi cation of logs and lumberaccording to their quality of form, uniformity,soundness, and appearance
Hardwood: Refers to broadleaf deciduoustrees used for wood production (e.g., ash,aspen, basswood, beech, cherry, maple, oak,hickory, walnut).
Interdependence: A situation in which decisionsmade by a group of people in one part of theworld aff ect decisions made by groups in otherparts of the world; as regions specialize theybecome more dependent on other regions tomeet their needs and wants.
TERMS CONTD
Poletimber: A tree of a size between a saplingand a mature tree with a minimum diameter atbreast height of fi ve inches.
Primary Wood Product: A minimally processedconsumer good that comes from a tree (e.g.,lumber, wood chips).
Sawtimber: A tree that contains at least onesound, straight log that measures eight feet inlength, with the smallest end measuring at leastnine inches in diameter.
Secondary Wood Product: A consumer goodmanufactured from a primary wood product(e.g., door, table)
TERMS CONTD- ALMOST DONE
Sustainable: The ability of something to bemaintained for use today and in the future.
Veneer: A thin layer of wood sliced or peeledfrom a log.
Softwood: A reference to coniferous trees usedfor wood production (e.g., cedar, fi r, pine, spruce,tamarack).
Specialization: A situation in which a nation orbusiness produces only the goods for which theirnatural and human resources are best suited.
TERMS CONTD- LAST SLIDE OF TERMS
List factors that can influence the supply ofand demand for forest resources.• Diff erentiate between primary wood products,secondary wood products, nonwood products,and forest services, and give examples of each.• Describe the general supply of and demandfor forest resources in Wisconsin, the Midwest,and the United States.• Identify the variables that make up productioncost and the price of goods in a competitive,global marketplace.
GOALS OF THE NEXT COUPLE LESSONS
• Explain the role of governments in the globalmarketplace for wood products and list waysthey support businesses, workers, communities,and the environment.• Identify specific ways the use of Wisconsin’sforests is influenced by the decisions of localand foreign businesses and governments
GOALS CONT-D DO NOT WRITE
THE FOREST MARKETPLACE
What part of your lives is not connected to economics in any way?
Economics- the branch of knowledge concerned with the production, consumption, and transfer of wealth.
QUESTION
Everything in your life is connected in some shape or form with economics.
ANSWER
Review veneer is a thin wood sheet uniform in thickness.
Veneer produces a richly gained appearance at a fraction of the cost of solid wood products.
Uses: Furniture, built-in projects, and whole room designs Windows, flooring, auto dash boards, flooring, yachts,
canoes, kayaks, and moreSources:
Straight mature trees High Grade saw logs Nearly all Wisconsin tree species are used for veneer-
maple, ash, paper birch, aspen, red oak, basswood, and spruce.
PROJECT CASE: VENEER
Veneer demand globally has increased consistently over the last 50 years
