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American Business

This educational resource from Bellevue Community College explores the fundamental concepts of the economy and business. It includes activities such as brainstorming the definition of a business, discussing its operating environment, and recognizing the impact of various industries in the U.S. economy. Key topics include GDP measurement, inflation rates, and the role of government monetary and fiscal policies. The materials provide a comprehensive view of economic indicators, business cycles, and strategies for navigating economic fluctuations, fostering a greater understanding of business planning.

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American Business

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  1. American Business Leslie Lum Bellevue Community College

  2. What is the economy?

  3. Brainstorming • What is a business? • What is the context of a business? What environment does it operate in? • Form a group • Brainstorm what a business is • Draw a picture of your ideas • Report back to the class

  4. Part of the U.S. economy? • Building a house in New Mexico • Toyota cars assembled in Kentucky • Hair salon in South Dakota • Seattle SuperSonics • Coca Cola plant in China

  5. Who wants to be a millionaire-- What is the size of the US economy? How does it compare to the rest of the world? http://www.worldbank.org/data/quickreference/quickref.html

  6. Measuring the economy Value of goods and services are totaled. GDP adjusted for inflation. Growth is graphed.

  7. The rate of change of GDP • Growth • Period of Expansion • Contraction • Recession

  8. 2004/5 data http://www.whitehouse.gov/fsbr/esbr.html

  9. Inflation • Increase in the price of goods and services • How do we measure it? • Is it good or bad? • What has been the inflation rate for the past 30 years?

  10. Consumer Price Index http://www.bls.gov/cpi/home.htm#tables

  11. Inflation

  12. How does the US compare? http://www.nationmaster.com/graph-T/eco_inf_rat_con_pri

  13. Role of Government • Monetary Policy - Federal Reserve sets interest rates • Fiscal Policy - Spending to stimulate economy

  14. Can the Government afford to help? Deficits or surplus ($billion)

  15. Monetary Policy - How it works

  16. The Whole Picture • The Business Cycle is crucial to business planning

  17. How to avoid finding yourself in the middle of a recession • Important to look ahead • Predict upturns and downturns

  18. Economic indicators • Construction • Manufacturers’ shipments, inventories, orders • Employment • Consumer credit • Wholesale trade • Capacity

  19. Shifts in the American Economy • The American Economy consists of many industries • Not all industries are growing or contracting at the same rate • Where should you be?

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