Transcript Economic Indicators

Fri. October 21, 2016
OBJECTIVES
REMINDERS
(45) Identify the measures / indicators of economic activity.
Econ. Unit Test
FRI 10/27
TODAY’S AGENDA
1) BRO Time- look over your study guide and quiz your pod
2) Common Assessment– 20 Questions
3) Economic Indicators
PowerPoint & Notes. Inflation WebQuest (next class)
4) Study Guide for Unit Test
CLOSURE
Describe the
relationship
between the
stages of the
business cycle
and the economic
indicators.
ECONOMIC INDICATORS
Introduction to Business & Marketing
TASK 45
Identify the measures / indicators of economic activity.
HOW DO YOU MEASURE UP?
Student performance is
measured by:
• GPA
• SAT
• Class Rank
Baseball performance is
measured by:
• Batting Average
• Strikeouts
ECONOMIC INDICATORS
• Economic indicators are figures used to measure a country’s economic
performance
• We measure things like:
how much a country produces
whether a country’s economy is growing
how a country’s economy compares to others
• There are many indicators. We will study GDP, inflation, and unemployment.
GROSS DOMESTIC PRODUCT
• GDP is the total value of the
goods & services produced in
a country in a given year.
• Sum of all goods & services
sold by U.S. producers
(businesses)
WHAT GDP TELLS US
• Changes in GDP show
whether the economy is
growing or slowing
• Commonly used to gauge a
country’s standard of living
MEASURING GDP
• One of the most important indicators
of economy’s status!
• The U.S. has a very high GDP as
compared to other countries.
• Examples
China: $13.39 trillion
Canada: $1.518 trillion
North Korea: $40 billion
INFLATION RATE
• Inflation is a general increase in
the price of goods & services.
• Consumers’ buying power
decreases because it costs more
for something today than it did
yesterday.
WHAT INFLATION TELLS US
Indicates that the cost of
living is getting more
expensive!
WHAT CAUSES INFLATION?
Supply < Demand
May result from:
• War
• Price of imports
• Too much money in
circulation
UNEMPLOYMENT RATE
• Unemployment measures the
number of people who are able &
willing but cannot find work.
• Shows whether the economy is
picking up or slowing down
WHY DOES NORTHERN VIRGINIA EXPERIENCE SMALLER CHANGES TO
THE EMPLOYMENT RATE THAN OTHER PARTS OF THE COUNTRY?
THINK ABOUT IT
WHAT UNEMPLOYMENT TELLS US
• The unemployment
rates shows whether
the economy is picking
up or slowing down.
• It is a lagging indicator.
CLOSING TASK
Describe the relationship between the stages of the
business cycle and economic indicators.
Thu. October 15, 2015
OBJECTIVES
(45) Identify the measures / indicators of economic activity.
TODAY’S AGENDA
1) BRO Time
2) Daily Quiz
The Business Cycle – 10 questions, 5 minutes, open notes!
3) Economic Indicators
PowerPoint & Notes. Inflation WebQuest.
REMINDERS
DECA FLC Trip
THU 10/22
Econ. Unit Test
FRI 10/23
CLOSURE
Describe the
relationship
between the
stages of the
business cycle
and the economic
indicators.