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Objective 1.02

Objective 1.02. Understand economic conditions. Measuring Economic Activities. Gross Domestic Product (GDP). GDP is the measurement to determine the country’s overall economic output (The country’s TOTAL $$ value of goods and services produced in 1 year.) Major categories of GDP

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Objective 1.02

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  1. Objective 1.02 Understand economic conditions

  2. Measuring Economic Activities

  3. Gross Domestic Product (GDP) • GDPis the measurement to determine the country’s overall economic output (The country’s TOTAL $$ value of goods and services produced in 1 year.) • Major categories of GDP • Individual spending • Business spending • Government spending • Exports & imports

  4. Gross Domestic Product (GDP) • Name some products or services you have purchased or from which you have received benefits. • Which component of GDP would you classify the product or service you named? • Individual spending • Business spending • Government spending • Exports & imports

  5. GDP per capita GDP per capita means output per person =_________GDP__________ Total Population

  6. Labor Activities • Unemployment rate Percentage of people in the labor force without jobs. • Productivity means … • What can help you be more productive in a computer lab? • What can contribute to employees increasing their production?

  7. Consumer Spending Measurement of consumer spending: • Personal Incomewages, investment income, and government payments • Retail Salessales of goods and services that indicate spending patterns

  8. Investment Activities • The money used for capital projects comes from three main sources: • Personal savings • The stock market • The bond market

  9. Investment Activities • Personal Savings- Businesses use money deposited in banks to buy equipment or products.- Savers earn interest on the savings. • Stock Market- Higher earnings for business increases the business value - This causes demand for their stock. • Bond Market- The bond market makes money available for businesses and government to borrow. - Bondholders earn interest on money.

  10. Investment Activities • How does each investment activity impact economic growth? Personal Savings Stock Market Bond Market • What are some examples of investment activities?

  11. Borrowing Activities … • by • Government • Businesses • How can government borrowing lead to a budget deficit? • How can using borrowed money wisely impact businesses?

  12. Measuring Economic Activities GDP Per capita GDP Labor Activities Consumer Spending Investment Activities Borrowing Activities

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