1. GRAB A TEXT BOOK Warm Up:
What is the business cycle?

2. In Your Notebook:
Name Five workers (or types of workers) who are unemployed right now because of the recession.
Name Five different workers (or types of workers) who are unemployed right now because the product they made is no longer purchased.
Name Five different workers (or types of workers) who are unemployed because the seasons are changing.

3. Two Evils of the Economy:
Unemployment!!
People are not working; therefore not earning money to purchase g&s.
Businesses are not selling g&s and therefore must either layoff workers or raise prices.
Inflation
Prices are too high and consumers cannot afford to buy g&s.
Businesses are not selling g&s and therefore must layoff workers.