Economic base analysis
"Imagine you have a big jar of candy. This jar is like a community, and the candy inside is all the money that people in that community make. Now, some people in the community make candy to sell, while others make toys, clothes, or furniture. All these items are like the different kinds of jobs people have.
Now, if you look at the jar, you can see that some candies are bigger and tastier than others. These are like the jobs that bring in more money into the community, and we call them the economic base. The economic base is made up of the jobs that bring money into the community from outside, usually by selling goods or services to other places.
When we do an economic base analysis, we look at how much money these economic base jobs bring into the community. We also look at how many people work in these jobs compared to how many work in the other jobs. This helps us to see how strong the economic base is.
A strong economic base means that the community has lots of money coming in from outside, and this can help to create more jobs and opportunities for everyone. But if the economic base is weak, it can be hard for the community to grow and prosper. So, by looking at the economic base, we can better understand how healthy a community's economy is and what we can do to improve it."
Now, if you look at the jar, you can see that some candies are bigger and tastier than others. These are like the jobs that bring in more money into the community, and we call them the economic base. The economic base is made up of the jobs that bring money into the community from outside, usually by selling goods or services to other places.
When we do an economic base analysis, we look at how much money these economic base jobs bring into the community. We also look at how many people work in these jobs compared to how many work in the other jobs. This helps us to see how strong the economic base is.
A strong economic base means that the community has lots of money coming in from outside, and this can help to create more jobs and opportunities for everyone. But if the economic base is weak, it can be hard for the community to grow and prosper. So, by looking at the economic base, we can better understand how healthy a community's economy is and what we can do to improve it."