Transcript Anticipation Guide – United States Economy

Anticipation Guide – United States Economy
• Before we go on to the next section, “A
Dynamic Economy”, complete the anticipation
Guide. Answer True or False in the Before
column only.
Lesson 4B
Lets talk about MONEY !!!!
DO Now-Copy the following vocabulary
words into your packet
•
•
•
•
•
•
•
•
Market Price
Trade Deficit
GDP
Primary Industry
Secondary Industry
Tertiary Industry
Quartenary Industry
Market Economy
VOCABULARY CHECK
• Common Good – taking on the civic responsibility of
helping all citizens as a group. For example, taking on
the civic responsibility of public service.
• Market Price – what people are willing to pay for an
item (goods) or a service. For example, we would not
be willing to pay $10 dollars for a large fry at
McDonalds, but we would be willing to pay $2.00.
• Trade Deficit – when a country buys more goods and
services from other countries than it sells to them.
VOCABULARY CHECK
• GDP-Gross Domestic Product- The value of goods
and services produced in a country.
• Primary Industry-An economic activity that directly
involves natural resources or raw materials such as
farming, mining, fishing and logging.
• Secondary Industry-Economic activities that change
raw materials into finished products such as clothing,
refineries, and steel mills.
• Tertiary Industry-Economic activities that handle
goods that are ready to be sold in stores. Examples
are stores, trucking, banking, and health care.
VOCABULARY CHECK
• Quarternary- Economic activities that involve
research, business management, engineers etc.
• Market Economy-an economy in which people make
their own choices about what goods and services
they buy.
• With the other students at your table, take
turns reading pages 124-127 starting with
“An Economic Superpower”
United
States #2
Canada
#15
Mexico
#12
GDP
15.08
Trillion
1.395
Trillion
1.667
Trillion
GDP Per
Capita
$48,300
$40,500
$14,700
Unemployment
9%
7.5%
5.6%
.98
12.42
exchange
rate
• Lets learn about the types of industries that
help make up the economy of the United
States.
Read Pages 70-71 as a class
• Make a chart like this on the back of the title
page (1) in your packet.
Lets apply our vocabulary to follow the process
of making a pair of jeans.
Primary
Secondary
Tertiary
Quartenary
Anticipation Guide Answers
•
•
•
•
•
•
•
•
1. false
2. false ( Canada and Mexico)
3. false
4. false... it imports more than it exports
5. true
6. false…they are an example of service industries
7. true
8. true