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Itb Chap 02

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  • CHAPTER 2 06/08/09 ITB

Transcript

  • 1. Economic Activity 2-1 Measuring Economic Activity 2-2 Economic Conditions Change 2-3 Other Measures of Business Activity 2
  • 2. LESSON 2-1 Measuring Economic Activity
    • Goals
    • Define gross domestic product.
    • Describe economic measures of labor.
    • Identify economic indicators for consumer spending.
    Chapter 2 Slide
  • 3. Key Terms
    • Gross Domestic Product (GDP)
    • GDP per capita
    • unemployment rate
    • productivity
    • personal income
    • retail sales
    Chapter 2 Slide
  • 4. GROSS DOMESTIC PRODUCT (GDP)
    • Components of GDP
    • Comparing GDP
    Chapter 2 Slide
  • 5. Comparison of GDP in Selected Countries Chapter 2 Slide
  • 6. >> C H E C K P O I N T
    • What types of economic activities are not included in GDP?
    Chapter 2 Slide
  • 7. LABOR ACTIVITIES
    • Employment
    • Productivity
    Chapter 2 Slide
  • 8. >> C H E C K P O I N T
    • What are ways to increase productivity?
    Chapter 2 Slide
  • 9. CONSUMER SPENDING
    • Personal income
    • Retail sales
    Chapter 2 Slide
  • 10. >> C H E C K P O I N T
    • What are the main sources of personal income?
    Chapter 2 Slide
  • 11. LESSON 2-2 Economic Conditions Change
    • Goals
    • Describe the four phases of the business cycle.
    • Explain causes of inflation and deflation.
    • Identify the importance of interest rates.
    Chapter 2 Slide
  • 12. Key Terms
    • business cycle
    • prosperity
    • recession
    • depression
    • recovery
    • inflation
    • price index
    • deflation
    Chapter 2 Slide
  • 13. THE BUSINESS CYCLE
    • Prosperity
    • Recession
    • Depression
    • Recovery
    Chapter 2 Slide
  • 14. >> C H E C K P O I N T
    • What are the four phases of the business cycle?
    Chapter 2 Slide
  • 15. CONSUMER PRICES
    • Inflation
    • Causes of inflation
    • Measuring inflation
    • Deflation
    Chapter 2 Slide
  • 16. >> C H E C K P O I N T
    • What are the main causes of inflation?
    Chapter 2 Slide
  • 17. INTEREST RATES
    • Types of interest rates
    • Changing interest rates
    Chapter 2 Slide
  • 18. >> C H E C K P O I N T
    • How do interest rates affect business activities in our economy?
    Chapter 2 Slide
  • 19. LESSON 2-3 Other Measures of Business Activity
    • Goals
    • Discuss investment activities that promote economic growth.
    • Explain borrowing activities by government, business, and consumers.
    • Describe future concerns of economic growth.
    Chapter 2 Slide
  • 20. Key Terms
    • capital project
    • stock
    • bond
    • budget surplus
    • budget deficit
    • national debt
    Chapter 2 Slide
  • 21. INVESTMENT ACTIVITIES
    • Personal savings
    • The stock market
    • The bond market
    Chapter 2 Slide
  • 22. >> C H E C K P O I N T
    • Name some examples of capital projects.
    Chapter 2 Slide
  • 23. BORROWING
    • Government debt
    • Business debt
    • Consumer debt
    Chapter 2 Slide
  • 24. >> C H E C K P O I N T
    • What is the cause of a budget deficit?
    Chapter 2 Slide
  • 25. FUTURE ECONOMIC CHALLENGES
    • Limited access to health care
    • Need for proper housing for many people
    • Traffic and crime
    • Unemployment
    Chapter 2 Slide
  • 26. >> C H E C K P O I N T
    • What are future economic concerns for a country‚Äôs economy?
    Chapter 2 Slide