Itb Chap 02

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  • CHAPTER 2 06/08/09 ITB
  • Itb Chap 02

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

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