Fri. October 21, 2016 O BJECTIVES (45) Identify the measures / indicators of economic activity. 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 REMINDERS Econ. Unit Test FRI 10/27 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 O BJECTIVES (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.