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 starting with “An Economic Superpower”

United States #2 Canada #15 Mexico #12 GDP15.08 Trillion Trillion Trillion GDP Per Capita $48,300$40,500$14,700 Unemployment 9%7.5%5.6% exchange rate

Lets learn about the types of industries that help make up the economy of the United States. Read Pages 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. PrimarySecondaryTertiaryQuartenary

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