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Social Studies 4: Local Institutions 6 Views


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Description:

Today we're learning all about local institutions. You know, important stuff like public libraries. Or even more important, public restrooms. 

Language:
English Language

Transcript

00:04

[Coop and Dino singing]

00:13

Every community is supported by its institutions. [Statue holding up community of Earth]

00:16

Geesh…we hope they've been lifting weights.

00:19

Sounds tiring.

00:20

Anyway, these institutions can be divided into two kinds.

00:23

First, there are national institutions, which are the same in every community and they're

00:28

paid for at the national level.

00:29

And then there are local institutions that are unique to each community. [Man walks up to woman receptionist]

00:33

They're paid for at the local level.

00:35

No surprises there!

00:37

So…what do these institution do?

00:39

Well, whether they’re national or local, all institutions do the same thing.

00:43

They provide goods and services to the people in a community.

00:46

Y'know…when they're not busy bench-pressing an entire community. [Uncle Sam bench pressing]

00:50

Anyhoo, some of these goods and services are public, meaning they’re available to anybody

00:55

who lives in a community…

00:56

These are things like libraries, and community centers! [Examples of local communities]

01:00

Other goods and services are private, meaning They're only available to paying customers.

01:04

…What?

01:05

We gotta eat.

01:06

Anyway… institutions can also be compared based on their ownership.

01:09

Some of them might be independently owned, and some might be publicly-traded. [Girl walking a dog and group of firemen with a dog]

01:13

Whoa, whoa, whoa, independently whozits and publicly whatzits?

01:17

Something tell us it's example time!

01:20

How do we know?

01:21

Because those are phrases we don't hear every day.

01:23

Or…even every year. [Person turns page of book]

01:24

So let's look at independently owned first..

01:27

Here’s your brother’s new car. [Brother stood with new car]

01:29

He bought it himself, with his own money that he saved up over the years.

01:33

That means no matter how much you beg him, if he doesn’t want to drive you and your

01:36

friends to the water park, he doesn’t have to. [Brother drives away from young brother]

01:39

See, because your brother’s car is independently owned, he gets to decide – independent of

01:44

you – how the car is used. [Brother drives car off a canyon]

01:46

OK, so what about a publicly traded institution?

01:49

That’s an organization that's traded through shares sold on the stock market.

01:52

So back to our example…

01:54

Here’s the family car that your parents let your brother use. [Brother stood with family car]

01:57

But it’s not technically his because your folks bought it, and pay for the gas and insurance.

02:02

For all intents and purposes, the car is now publicly traded.

02:06

That means your brother has to listen to the car’s shareholders – in this case your [Brother holding car keys and Dad kicks keys out of his hand]

02:10

parents – when it comes to making decisions about how the car gets used.

02:14

A publicly traded institution is also required to share important information about itself

02:19

with the general public.

02:20

Yep, all information.

02:22

That means the good and the bad. [Family assessing shareholder information]

02:25

Walmart is an example of a public institution.

02:28

It’s owned by lots of people through trading on the stock market.

02:31

And, like a lot of public institutions, there’s Walmarts in lots of communities.

02:35

Wowzers.

02:36

That’s a lot of $2 t-shirts... [Walmart t-shirts]

02:38

Meanwhile, your local party supply store may be an independent institution --

02:41

-- possibly owned by the guy whose name is on the store.

02:44

But let's be honest…with a name like Bongo, this guy was destined to own a party supply [Bongo a clown in a party supply store]

02:48

store.

02:49

Of course, just because a company is independently-owned doesn’t mean it’s small – [Independently owned dog dragging boy]

02:53

or even local.

02:54

Take Mars, Incorporated, producer of some of your – and your pet’s – favorite

02:58

treats.

02:59

Actually, while you can take all the Mars candy [Young boy eating candy bars]

03:01

you want until you get a stomach ache, you technically can’t take any part of the Mars

03:06

corporation.

03:07

That’s because Mars, Inc. is a privately owned

03:11

institution, controlled exclusively by the Mars family. [Alien family controlling the Mars factory]

03:14

And they don’t let anyone come “be-TWIX-t” them and their company…

03:19

And that's it! Institutions aren't so bad.

03:21

And who knows? [Walmart truck picks up boy to take him to water park]

03:22

Maybe Walmart will drive you to the water park!

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