Quick Review Ch. 16 - 18 What role does government play in our economy? What is the Federal Reserve and what does it do? Why do you think our government is having such a difficult time maintaining a balanced budget?

Chapter NC 18 The Economy and Careers in NC *Key Idea: The health of the economy is vital to the success of a state. Economic opportunity was one of the main factors that drew settlers to NC in the first place.

Section 1: Working in NC 2 Words to Characterize NC’s Economy over Time: Change and Diversity NC’s Economy by Sectors (as of 2004) 57% Services, Information and Trade 20% Manufacturing (making goods by machine or hand) 13% Government 7% Mining, Utilities and Construction 2% Transportation 1% Agriculture, Forestry and Fishing / Hunting

Growing Industries in NC Biotechnology: the application of technology to solve problems involving living organisms Ex: Develop more drought-resistant crops or invent / manufacture new medicines * Research Triangle Park (located bw Raleigh, Durham and Chapel Hill) is the center of the state’s biotechnology industry Information Technology: the use of computers for the storage, communication, and use of data Aren’t you glad you are @ BECHS??!!

The State Govt.’s Role in NC’s Economy *NC Govt. tries to promote business and protect the interests of NC workers. Dept. of Commerce Works to bring new companies and industries to NC Investing $ in Workers Spends $ on NC universities and Community Colleges Funds programs to train NC workforce

Section 2: NC in a Global Economy Globalization: the growing interconnection of the economies of countries around the world. *This impacts NC businesses, employees and consumers.

Globalism Brings Opportunities and Challenges to NC NC exports goods and services to foreign countries such as Canada, Japan and Mexico Foreign countries invest $ in NC business ventures Challenges It may cost less to manufacture a good in a foreign country, so there are now less manufacturing jobs Ex: Assembling furniture in China instead of NC Less jobs means less people to spend money and help other businesses

Quick Review of NC Ch. 18 Why are change and diversity good words to describe the workforce of NC? Why might BECHS be an ideal place to help you prepare to enter the workforce of NC? How might the NC government have an effect of NC’s economy? Can you explain the role NC plays within the context of a global economy?

NC Ch. 18 Assessment Page NC18 – 18 (Following Chapter 18) Complete # 1 – 10; 14 Reviewing Key Terms Write out the sentence with correct term underlined. Comprehension, Critical Thinking and Activities Write out the question and your response. * Turn in for a grade when completed..