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Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 Economic Conditions Change Goals Describe the four phases of the business cycle. Explain causes of inflation and deflation. Identify the importance of interest rates. 2-2
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 2 2 Key Terms business cycle prosperity recession depression recovery inflation price index deflation
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 2 3 THE BUSINESS CYCLE Prosperity Recession Depression Recovery
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 2 4 What are the four phases of the business cycle? Answer The four phases of the business cycle are prosperity, recession, depression, and recovery. Checkpoint >>
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 2 5 CONSUMER PRICES Inflation Causes of inflation Measuring inflation CPI (Consumer Price Index) Deflation
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 2 6 What are the main causes of inflation? Answer Inflation is an increase in the general level of prices that occurs when the demand for goods and services is greater than supply. Checkpoint >>
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 2 7 INTEREST RATES Types of interest rates Prime Discount T-Bill Treasury Mortgage Corporate Certificate of Deposit Changing interest rates
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 2 8 How do interest rates affect business activities in our economy? Answer Interest rates can encourage or discourage borrowing and spending. Lower interest rates allow consumers greater spending power, which increases demand, productivity, and employment. Businesses often pass on the cost of higher interest rates to consumers. Checkpoint >>
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Measuring Economic Activity Economic Conditions Change 2-3.
2 Economic Activity 2-1 Measuring Economic Activity
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 2 SLIDE Measuring Economic Activity Economic Conditions.
Essential Standard 1.00 Understand the role of business in the global economy. 1.
Introduction to Business © Thomson South-Western ChapterChapter Economic Activity Measuring Economic Activity Economic Conditions Change.
Understand the role of business in the global economy. 1.
Economic Conditions Change Intro to Business 2-2.
Economic Conditions Change Chapter 2-2. Business Cycle O The movement of the economy from one condition to another and back is called the business cycle.
DO NOW Please generate a list of things that go up and down. Compare your list with your neighbors. Were there any similarities?
2-1Measuring Economic Activity 2-2Economic Conditions Change 2-3Other Measure of Business Activity.
Economics. Needs vs. Wants Factors of Production List the factors of production, define and explain in the next three slides.
Chapter 4 ECONOMICS MEASUREMENTS. Goals EXPLAIN how Gross Domestic Product (GDP), GDP per capita, and labor productivity are used as measurements of.
Question and Answer Samples and Techniques Copyright © Texas Education Agency, All rights reserved.
Intro to Business 2-2. The Business Cycle All economies experience good and bad economic periods This economic shift between good and bad economic.
Measuring Economic Activity Economic Conditions Change Other Measures of Business Activity 1 CHAPTER 2.
Chapter 2 Economic Activity. Objectives Describe Gross Domestic Product Describe Gross Domestic Product Identify and describe economic measures of labor.
Measuring economic activity
CHAPTER 2 Economic Activity. MEASURING ECONOMIC ACTIVITY Economic growth is the steady increase in the production of goods and services in an economic.
Macroeconomics unit What you should know by now. You should be able to : Define the following: Gross Domestic Product (GDP) & the 4 components Unemployment.
Objective 1.02 Understand economic conditions 1 Understand the role of business in the global economy.
Introduction to Business © Thomson South-Western ChapterChapter Chapter 2 Measuring Economic Activity Economic Conditions Other Measures of Business Activity.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 CHAPTER Satisfying Needs and Wants Economic Choices Economic.
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 19 1 CHAPTER Saving and investment planning Stock investments.
1 © ©1999 South-Western College Publishing PowerPoint Slides prepared by Ken Long Principles of Economics 2nd edition by Fred M Gottheil.
© 2013 South-Western, a part of Cengage Learning. All rights reserved. Chapter 1 | Slide 1 Chapter 1: Exploring the World of Business and Economics.
ESSENTIAL STANDARD 1.00 UNDERSTAND THE ROLE OF BUSINESS IN THE GLOBAL ECONOMY. 1.
Understand economic conditions
Intro Ch. 2 Economic Activity. Ch. 2-1 Measuring Economic Activity GDP- Gross Domestic Product- The total dollar value of all goods and services produced.
The Business Cycle An Economic Concept. Define the business cycle Explain the four stages of the business cycle Examine causes of the business cycle.
NOTES THE BUSINESS CYCLE & INFLATION. Looking at economic cycles illustrates a pattern of good times and bad times. The movement of the economy from.
Chapter 3 Your Purchasing Power. Slide 2 What Is Inflation? 3-1 Inflation and the Value of Money Inflation is an increase in prices for goods and services.
Understand the role of business in the global economy. 1 All Images Compliments of
2-2 Economic Conditions Change
Chapter 2 Economic Activity Lessons: Economic Activity Economic Conditions Investing & Borrowing EQ: How do we measure the state of the economy?
CHAPTER 1: The Foundation of Business Sections: 1. Getting Down to Business 2. What is Economics 3. Perfect Competition Supply & Demand 4. Monopolistic.
How much are we producing and buying????. total value of all the goods and services produced in a country in a year. This is one way to measure a country’s.
1.02 ~ ECONOMIC ACTIVITIES AND CONDITIONS CHAPTER 2 MEASURING ECONOMIC ACTIVITY.
Classification of Economic Conditions 1. Prosperity Employment rate and demand for products and services are high. Recession Unemployment rate is increasing.
Introduction to Business Chapter 4 Economic Measurements Essential Question: How do we measure the economy?
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