

The Economics of Economics
Season 5 Episode 505 | 28m 46sVideo has Closed Captions
Learn about everything from micro to macro economics, business principles and more!
Here's a lighter look at a complex science. Learn about everything from micro to macro economics, supply and demand, and economic indicators. See how business owners and even individuals use economic principles to make financial decisions. Meet a young entrepreneur who started up her serving business when the economy turned down. It’s all economics!
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Problems playing video? | Closed Captioning Feedback
Biz Kid$ is presented by your local public television station.
Distributed nationally by American Public Television

The Economics of Economics
Season 5 Episode 505 | 28m 46sVideo has Closed Captions
Here's a lighter look at a complex science. Learn about everything from micro to macro economics, supply and demand, and economic indicators. See how business owners and even individuals use economic principles to make financial decisions. Meet a young entrepreneur who started up her serving business when the economy turned down. It’s all economics!
Problems playing video? | Closed Captioning Feedback
How to Watch Biz Kid$
Biz Kid$ is available to stream on pbs.org and the free PBS App, available on iPhone, Apple TV, Android TV, Android smartphones, Amazon Fire TV, Amazon Fire Tablet, Roku, Samsung Smart TV, and Vizio.
Providing Support for PBS.org
Learn Moreabout PBS online sponsorship-Production funding and educational outreach for Biz Kids is provided by a coalition of America's Credit Unions, where people are worth more than money.
A complete list of individual credit union funders is available at WXXI.org.
-Every day, America's Credit Unions help members with their financial needs and with programs like Invest in America.
It's only fitting that credit unions support Biz Kids because financial education is what we do.
Learn more at lovemycreditunion.org.
-How’s business, Bert?
-Real head scratcher these days.
-Your sheep got fleas?
-Nah, it's just I was makin' a whole lot of money last year, but instead of bein’ happy, I feel kinda empty.
-What do you mean?
-I just feel like my business should... -Give back.
-Do somethin’ that’ll impact the whole wide world.
-Give back.
-Well how can your business impact the whole wide world?
-Give back.
-I got no ideas.
♪ When making money is the aim ♪ ♪ These kids, they bring their game ♪ ♪ They’re the Biz Kids ♪ ♪ Can you dig it?
♪ ♪ They know what's up and let you know ♪ ♪ Just how to make that dough ♪ ♪ They’re the Biz Kids ♪ ♪ Right on!
♪ ♪ So learn a little more about bringing money through the door ♪ ♪ They’re the Biz Kids ♪ ♪ Right on!
♪ -Brought to you by: making the world a better place.
-Give back!
-More and more you can find businesses that look beyond profit with the goal of making the world a better place.
-By helping people instead of exploiting cheap labor.
-By helping the environment instead of polluting natural resources.
Oh, thanks.
-Along the way they pick up new clients and new customers.
-They’re finding that giving back is good for the business.
-Giving back?
You mean like when people hand out free samples and coupons and stuff?
-No, we’re looking at a bigger picture than coupons.
People like to support businesses that do good things.
-And that support can turn into increased profits.
-Businesses that give back are good.
-And sometimes giving back is good for business.
-How about a new free energy bar?
-I told you that’s not what we’re talking about.
-But it’s organic and has a biodegradable wrapper.
-Really?
-Yep, and for each one sold we will donate to a nutritional program.
-Really?
Well, can I see?
-Psych!
-Hi, I’m Hart and I’m a Biz Kid.
I was just 13 years old when I started my business.
My sister was selling candles for a school fundraiser and I thought the scents were too girly, so I thought, "Why not make scents for men?"
Some of the scents we offer are fresh cut grass, campfire, pizza, new mitt, sawdust, grandpa’s pipe, dirt.
We purchase the cans from a local grocery store.
We would take them to a soup kitchen and the serve the soup, and then we would get the cans back, wash them, and then use them for candles.
We decided to structure our business around giving back, because it created something interesting and it was also a good way to get the word out about the business while still helping the community.
We've donated 11,000 soup cans, and sold 9,000 candles.
My business took off when my candles were featured on our local news station, and that news broadcast was carried all over the country.
When I woke up in the morning I was shocked at how many orders we had and how quickly we’ve gotten ’em.
We had 1,400 orders.
I never thought we’d have that many ever.
And we had those in 24 hours.
I think a big part of the story of why the business exploded is the fact that they were recycled soup cans.
People saw that and thought, "Hey, this kid’s giving back, too."
It's important to give back because if you help the community, then they’ll help you keep running.
Man Can.
If we didn't give back we’d have a completely different product.
We wouldn't have the same type of can and there also wouldn’t be a story behind it.
Our new motto "One Candle, One Meal."
it means that for every candle that we’ve made, it’s a meal for someone.
One candle, one meal.
-Darth Tax Evader.
I should have known.
Why am I a prisoner here on this Debt Star?
-We need your help, your highness.
You could be of great assistance to the Empire in our new charitable campaign.
-Torture me all you like Evader, I will never reveal... wait, what?
-The Imperial Command has been forced to accept the fact that some of our business policies are damaging the environment of Endor, and endangering our Dewok workers.
-The damage is so great that it's begun to hurt our bottom line, so we've decided to focus on new social and environmental goals.
-Is this a joke?
-Do I look like I’m joking?
-In the past, companies didn’t think much about their impact.
-Just build the factory, fire it up, make the money, and dump the trash.
-And that eventually caused a lot of problems, like air and water pollution.
-And lots of other things that made industry rethink the way they were doing things.
-And that lead to a more socially conscious way of doing business.
-Today, many companies aren't just interested in the bottom line.
-Now, it’s the triple bottom line.
-People.
-Planet.
-Profit.
-The goal is to help people and the planet, and still make a profit.
-For example, these companies won't work with or buy from factories that pay their workers less than a living wage.
-The same goes for the planet.
A growing number of companies are designing factories that have a less destructive impact on the environment.
-Other companies go farther, when it comes to giving back.
-They'll donate computers or books to people who can’t afford them.
-Or pay their employees salaries when they volunteer to work at a charity.
-There are all sorts of ways companies can help people and the planet, and still make a healthy profit.
-People.
-Planet.
-Profit.
-It can power a better world.
-I work for Microsoft, and we give back.
I’m a program manager at Microsoft IT.
I’ve been here for almost two years.
Microsoft has an amazing matching program.
Giving back at Microsoft is all about donating money or volunteering in any of your favorite organizations.
When you donate money or volunteer, Microsoft will match dollar for dollar up to $12,000 every year.
I volunteer at the Seattle Humane Society.
I donate money to the Yellowstone Park Foundation.
And I also volunteer at Seattle Food Lifeline.
This is very cool because we get to work with our favorite charities.
I get to think outside of the box of what I do in terms of community involvement.
And it's something that is both rewarding from the... from the inside perspective, and also because these organizations really appreciate our help.
Microsoft has been named the best company to work for in the world, and one of the main reasons is because of this great giving back program that they have.
I understand that last year Microsoft employees in the matching program gave $96 million.
Hey Biz Kids, it’s fun to give back.
-Help us, Princess Neah.
The Empire has never before attempted anything charitable.
For thousands of years, we’ve only focused on the bottom line.
-Well, in the Rebel Alliance, we have a triple bottom line.
People, planet, then profit.
-Hmmmm.
So, so... so you put the well-being of other people and a planet’s environment before money?
-That’s right.
Instead of keeping all the profits, we use some of them to fund social and environmental programs like building schools for Mookies.
-These are the kinds of far-out ideas we need in the Imperial Senate.
Join us and perhaps I'll change my mind about blowing up your home planet.
-Really?
-Well, that time I was joking.
Ha ha ha ha.
-Yo, dog.
-What seems to be the problem?
-They say that giving is good for my back.
I mean, what’s up with that?
-Okay everybody, c’mon!
-Can you feel it?
Can you feel it?!
-I want you to experience that warm feeling that you can only get from doing something charitable, are you with me?
-Welcome to Starbucks.
-Thanks!
-It's important for Starbucks to give back because I think as a corporation we hold a lot of responsibility to utilize the resources that we have to help other people.
Starbucks has programs like the five dollar donation bracelets that we’ve been selling in our stores.
Every donation that people give for the bracelets that they get in exchange goes towards a program for creating jobs in America.
Starbucks also works with people in Africa to donate towards AIDS causes with the (RED) program.
Right now, I'm working on a project with Hope Link, which does food donations in the area, and they have a food bank.
We're gonna have a bin over here in the lobby, and then I’m gonna be talking to all of my customers about it.
We're gonna be collecting food donations in the store, and then volunteer our time with organizing and distributing all the donations that we bring.
Starbucks, as a company, does a lot of things for the community in that they donate whole beans and brewed coffee sometimes to various organizations and events.
It's not very difficult to obtain a donation for your cause.
-Hi there, uh, we're doing a charity auction for my kids' school and was wondering if Starbucks could donate some beans.
-Yeah, we could do that.
I just need to ask my manager.
-Okay.
-He said absolutely!
Here ya go.
-Oh!
Awesome, thanks so much.
-It is our pleasure, I hope it goes well.
-Thank you.
Bye bye.
-I find it to be very rewarding.
I definitely enjoy being able to do that.
Hey Biz Kid, giving back is a great feeling.
-First P?
People.
Are you with me?
Here we go, c’mon.
-It’s people.
It’s people.
It’s people.
It’s people.
-Some businesses build giving back right into their business plan.
-Some even hire an employee to be in charge of corporate responsibility or community relations.
-Then there are some businesses that are so serious about giving back they’re certified as B Corporations.
-So, what’s the "B" stand for?
Booger?
The bomb?
Bl-- -No, it actually means beneficial corporation.
It’s like a stamp of approval.
-A lot like certified organic or fair trade.
-B Corporations are businesses that solve social or environmental issues.
-They get certified so that you know that they're companies that give back.
-So, if I start a company it could be a B Corp?
-Well, you have to pass a test to show that your company actually has a positive impact on people or the environment.
-Then you need to adopt a B Corporation legal framework.
Gotta fill out some paperwork and that makes it official.
-But a B Corporation has to operate transparently.
-Right, sometimes it's hard to tell if it's a good company or just good marketing.
-Not with a B Corp, their business operations are public.
-So you know that they're making good decisions for society, not just their stockholders.
-Yeah.
B Corps are redefining success in business.
So when you support a B Corp, you’re supporting a better way to do business.
-Wow!
If B Corps are that good, I wonder what it takes to get an "A".
-Uh... -What does a B Corp do?
-It gives back!
-We chose to be a B Corporation because we found that it was the most effective way to give back and grow our business.
For every ball that we sell, that allows us to give one away to kids somewhere else in the world that need it.
The One World Futbol project in its first year has given away approaching 40,000 balls, which has had a positive impact on about a half a million children in the world.
B Corporation means benefit corporation.
It's a powerful tool and model.
It allows any business that fits the B Corporation criteria to give back to the environment, community, and to evolve business, make it more meaningful.
The One World Futbol was designed to be the world’s most durable ball.
This ball is so indestructible because it's designed out of a material that maintains its shape and its durability in all kinds of weather, and it’ll never wear out in our lifetime.
The fast majority of children in this world live in places where they don’t have ideal playing conditions.
It was meant to withstand the harshest conditions that exist on the planet.
That’s what this ball is designed for.
This ball allows them to play to their heart's content, and without having to worry about the environment they’re playing in.
It lets kids be kids.
-Hey Biz Kids, give back!
-We play for the Bay Oaks soccer team.
One World Futbol gives back to our soccer team.
-The One World Futbol project works with youth soccer leagues all over the country.
And we're developing a program where they sell balls, that generates cash for their club and it generates balls for their community.
We chose to be a B Corporation because we found that it was the most effective way to give back and grow our business.
-We love One World Futbol!
-You know, boys, we're the richest band in the world, and I don’t care too much for money.
-After all, money can’t buy you love.
-Exactly.
So I was thinking maybe we should become a non-profit group.
-Well, I dunno, I think we could do more good as a for-profit.
-Well, what do you think, Bingo?
-Don’t ask me, I’m just happy to be here.
-Look, chums, why not have both?
Have a B Corporation.
-What?
-All that I’m saying is, give "B" a chance.
Hey beaus, have a listen to this scrappy little tune I’ve been working up.
♪ If I find myself in money trouble ♪ ♪ my financial advisor comes to me speaking words of wisdom ♪ ♪ Make it be ♪ ♪ If I want my business to give back ♪ ♪ the solution is right in front of me ♪ ♪ Now I have the answer ♪ ♪ Make it be ♪ ♪ Make it be, make it be ♪ ♪ Make it be, make it be ♪ ♪ Financial words of wisdom, make it be.
♪ -Great song.
-Great work.
-Yeah.
-You know, I’ve been working on a song.
It's called "I Get By With a Little Help From My Fiscally Sound Financial Investments."
-Right, yeah.
-All right, great work today.
-See you next week.
-Have fun, buddy, okay.
Poor guy.
-Hey Fast Buck, I finally struck it rich.
-What you doin’ with all that gold?
Reckonin’ to buy some swamp land?
-Yeah, I'm gonna donate some of this gold to those less fortunate than me, yes sir.
-You’re just gonna give some of it away?
You gone loco?
-Giving back is good!
-And good for business.
-Mmm, givers.
-My name is Maggie, I am eight years old.
And the business is called Twice Loved by Maggie B.
Twice Loved is a necklace- making company.
It’s Twice Loved 'cause it’s recycled.
I started making necklaces because I lost one and I loved it.
So I decided to make my own.
-I got some panty hose, and I got some tights.
I got some charms, and voila!
Magic.
Me and my momma were just making necklaces and then her friend came and called us saying, "You have to come to my jewelry party," and we came.
Everybody who came bought one.
Me and my momma said, "Oh, we have somethin' here that’s gonna change the world."
I got my necklaces in stores by just going to a store, pitching it, and just magically come true.
Me and my momma went to our first store and they bought some.
And that afternoon when we just got home, she called me saying, "We just sold three necklaces, give me all you got."
I do not know how many necklaces I made.
Maybe two millions or some like that.
I've always wanted to give back, even in my first lemonade stand.
I thought to myself, "How can I give back?"
And I just remembered that I sell necklaces.
So I decided to give some of my money and some of the necklaces I make to the Humane Society, and Children’s Home and Children’s Hospitals.
-I decided to give my profits to the Humane Society because I love pets.
Puppies, kitties, dogs, cats.
It'll help them get shots, find a good mom and daddy to give them food.
It’s very helpful.
Giving is important to me because there's people, and animals, and stuff like that less fortunate and you can make a difference.
If you want to give back, find something that really touches your heart.
And just say to yourself, "I can make a difference, right now, right this instant."
Doesn’t it make you feel good if you do it?
-You may not have a business that gives back, but you have the power to give back by choosing to buy from those companies.
-Your decisions have power, and what you buy affects the world.
-Wow, I never realized I had that kind of power.
-Well, you do.
So use it wisely.
-For example, you may have a choice between buying different kinds of energy bars.
-They might look similar on the grocery shelf, but check out the fine print.
-This company gives one percent of its profits back to a nutrition program in developing countries.
-Same thing with department stores.
-They might sell the same types of products, but what if one of them actually gives back part of their profits to the local community?
-Isn't that worth crossing the street to do your shopping there?
-What you buy is what you stand for.
-Do the research.
-Get online.
-The answers are out there.
-And use your power to support businesses that truly help the planet.
-It’s planet.
It’s planet.
Cool it down.
Okay, stretch it down ev... -My name is Sheri, and I work here at Staples.
I’m the copy center expert.
I love working at Staples, personally.
I’ve been here two years.
Giving back is important to the company because it allows us to build that relationship with customers, and by building a relationship with the community and customers they know we’re here.
And if they need help, they can always come.
We have four main programs here at Staples that we help give back.
The Do Something program is where customers can actually purchase school supplies and dump them in a green bin as they walk out the door.
The pink ribbon on my apron is, for the month of October, is breast cancer awareness.
Staples partners with the City of Hope foundation, which helps create awareness and raise money for women's cancers, particularly breast cancer.
Community Matters is where it encourages associates to go out and volunteer.
And then they can log their hours.
What the company will do is later go through certain times of the year and actually pick associates at random and then they will donate money to that associate's charity, whether it's a food bank, homeless shelter, wherever it’s at.
Our particular store in this ar... in the Seattle area has done about $30,000 worth of donations in the last four years.
We also have the Staples Foundation, which helps create jobs and help people develop job skills.
Staples Foundation donated over $25 million last year.
One of the things we sell here at Staples is the easy button.
Portion of the proceeds go to the Boys & Girls Club.
Here at Staples, we make giving easy.
-That was easy.
-It can be quite rewarding for a business to give back to those in need.
And there are a number of ways to do it.
-It can be cash, maybe a donation of goods and services.
Maybe you donate your time to a worthy cause.
-Giving back not only makes you feel good, but it’s good for business.
This guy gave back and really cleaned up.
-I’m David, this is my company... -And we give back!
-David’s Cleaning Service was started in May of 2010 with the hopes of being an upscale, luxury cleaning company.
We are working today as a team of four.
I knew that I wanted to do something right away to give back to the community.
And that’s when I found Cleaning for a Reason.
I was immediately intrigued by the organization.
And the concept is to give four free cleanings to cancer patients, and do one cleaning a month.
And it made me think about when my grandfather was going through cancer and everything we had to do... to go in and help him and take care of him.
The result from partnering with Cleaning for a Reason has been very, very good.
-Sometimes you go into these homes and you first get in there and you can tell that the person's having kind of a bad day, it’s kind of a rough day.
But by the time you're done, and you leave, there's a smile on their face and they... they’re feeling better.
By doing this and giving back to the community, people are talking about our company and it is helping to have our name recognized and for brand recognition.
So I feel it's... it's definitely we're paying it forward but we’re also getting it back in return.
Client receiving services from our company, they’re truly gonna feel pampered.
-David’s services are wonderful.
It really has made my life so much easier.
Having cancer, I was unable to clean.
And I was feeling a lot of stress by not having a clean home.
And then when David came in, they cleaned everything.
When he and/or his crew is here, they’re pleasant and nice.
They’re good to have in my home, they’re company.
It’s been wonderful.
-You know, a lot of times people think of cleaning as being boring thing, but when you're doing it for people who are suffering and battling with cancer, it really becomes a rewarding career to have.
Hey Biz Kid, it’s great to give back.
-Yay!
-Can you give me your whole one percen-- -Renfield, where are you?
-Coming.
-Renfield, I just had a fantastic idea.
What if I put my centuries of business knowledge to good use by helping people?
-Uh, helping people, Master?
-Yes.
A powerful new business whose profits will fund research into cures for all blood diseases.
-You do know blood.
(laughter) -Giving back can be great for any business, and it feels good, too.
Sometimes I give this much.
And if it’s a really good year, I give a little more, which makes me feel better already.
And now that I feel good, I can focus on this.
This is my profit, which I can spend on shoes.
And that makes me feel great!
-♪ Yeah, I think I’m all that ♪ ♪ You know, I’m all that ♪ My name is Cymphonique Miller.
I love to sing, dance, and act.
Now I'm coming out with my own Nickelodeon series in 2012 called How to Rock.
♪ No need to change.
♪ My dad and brother are the ones that introduced me to the whole idea of giving back.
And, you now, they always just tell me never to get into the entertainment business for the fame, or the money, but it's all about giving back, and that we should all use our talents to help each other.
That’s why I’m so passionate about Be Your Own You.
I have a business called Be Your Own You.
And it's a t-shirt apparel line that empowers girls to be themselves.
It’s got a great message.
Don't try to aspire to be like someone else, but try to aspire to be the best you that you can be.
Not only is BYou an apparel line, we also have read-a-louds at schools, and we have a social networking site where girls can log in anonymously to talk with professionals about their problems.
And all of these things tie in to empower girls.
I have a foundation named the Fabulous Girls Foundation, and it’s all about helping girls who are dealing with cancer.
-At the City of Hope you're gonna visit the team cancer center.
-Okay.
-They’re very excited about you guys coming in... -We visit hospitals, we visit the cancer wards, we donate Be Your Own You t-shirts, and right now we’re planning concert fundraisers.
-It's all to inspire the teens in spite of what they're going through, they’re still beautiful.
BYou donates apparel and magazines and part of the proceeds to keep the foundation running.
I've decided to donate part of the proceeds from the business because I'm not just in it for the money but I actually do wanna empower girls, and I feel like this foundation is really the core of empowering girls.
So when I wanna use that money to give back to them.
It would be great to see other businesses involved with giving back because I feel like everybody should be using their talents to help other people.
♪ Biz, Biz, Biz ♪ ♪ Biz Kids ♪ Definitely get involved, give back, and come from the heart.
-♪ Do you ever feel business don’t give back?
♪ ♪ Thinking of themselves down the wrong track ♪ ♪ Do you ever feel they should see the light?
♪ ♪ Work out a plan and do what’s right ♪ ♪ Do you ever feel that there's a better way ♪ ♪ A social business plan that makes the world a better place ♪ ♪ Do you know that you can be a part of it?
♪ ♪ Make a change that's good, you just gotta go fight ♪ ♪ The fight to make it right ♪ ♪ Just shine a light on a plan that’s bright ♪ ♪ Your business is a social work ♪ ♪ Giving back is what comes first ♪ ♪ People will go oh, oh, oh ♪ ♪ As you make the planet grow, grow, grow ♪ ♪ Your business is a social work ♪ ♪ Giving back is what comes first ♪ ♪ People will go oh, oh, oh ♪ ♪ As you make the planet grow, grow, grow ♪ ♪ Plan, plan, plan ♪ ♪ Social business needs a plan, plan, plan ♪ ♪ Plan, plan, plan ♪ ♪ All this light, it makes me tan, tan, tan.
♪ -People.
-Planet.
-Profit.
-Put them all together and what do you get?
-People, planet, profit.
-Bet you can’t say that five times fast.
-People, planet, profit.
People, planet, profit.
People, planet, profit.
People, planet, profit.
People, planet, profit.
-Okay, ten times.
-People, planet, profit... -A socially conscious company is concerned with more than profit.
-Some get certified as B Corporations and build giving back right into their business structure.
-People, planet, profit.
People, planet, profit.
People, planet, profit.
Yes!
-It's important to know the companies you buy from don’t exploit child labor or harm the environment.
-But to stay in business, the company has to make a profit.
-And where do they get their profits?
-From you, Biz Kid.
-And from the choices you make.
-C’mon, Biz Kids crew, let’s do it!
Let’s do it!
C’mon!
Stretch the bottom line.
Stretch it.
Stretch it.
Stretch it.
-♪ Now I have the answer ♪ ♪ Make it be.
♪ -People, planet, profit.
People, planet, profit.
People, planet, profit.
People, planet, profit.
People, planet, profit.
People, planet, profit... -Stretch that bottom line.
Stretch it.
See what I’m doing?
-People, planet, profit.
People, planet, profit.
-They’re a corporation that gives back.
-I am so sorry.
-The same goes for the planet-- -Wi-- mm-- uh-- ah... -Stretch it.
Stretch it.
Stretch it.
Work it out.
Work it out.
-Enough already.
-Are you a kid that runs a successful business?
-If so, then go to BizKids.com.
-We want to hear all about it.
Like, are you hiring?
-Wait, are you looking for a job?
-No, just go to BizKids.com and you could be on the show.
-That’s BizKids.com.
What?
-Nothing.
-Production funding and educational outreach for Biz Kids is provided by a coalition of America's Credit Unions, where people are worth more than money.
A complete list of individual credit union funders is available at WXXI.org.
-Every day, America's Credit Unions help members with their financial needs and with programs like Invest in America.
It's only fitting that credit unions support Biz Kids because financial education is what we do.
Learn more at lovemycreditunion.org.
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