itb chap 02
DESCRIPTION
TRANSCRIPT
![Page 1: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/1.jpg)
Introduction to Business© Thomson South-Western
ChapterChapterChapterChapter
Economic Activity
2-12-1 Measuring Economic Activity
2-22-2 Economic Conditions Change
2-32-3 Other Measures of Business Activity
22
![Page 2: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/2.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 2
LESSON 2-1LESSON 2-1
Measuring Economic Activity
Goals Define gross domestic product. Describe economic measures of labor. Identify economic indicators for
consumer spending.
![Page 3: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/3.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 3
Key Terms
Gross Domestic Product (GDP) GDP per capita unemployment rate productivity personal income retail sales
![Page 4: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/4.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 4
GROSS DOMESTIC PRODUCT (GDP) Components of GDP Comparing GDP
![Page 5: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/5.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 5
Comparison of GDP in Selected Countries
![Page 6: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/6.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 6
>> C H E C K P O I N T
What types of economic activities are not included in GDP?
![Page 7: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/7.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 7
LABOR ACTIVITIES
Employment Productivity
![Page 8: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/8.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 8
>> C H E C K P O I N T
What are ways to increase productivity?
![Page 9: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/9.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 9
CONSUMER SPENDING
Personal income Retail sales
![Page 10: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/10.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 10
>> C H E C K P O I N T
What are the main sources of personal income?
![Page 11: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/11.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 11
LESSON 2-2LESSON 2-2
Economic Conditions Change
Goals Describe the four phases of the
business cycle. Explain causes of inflation and
deflation. Identify the importance of interest rates.
![Page 12: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/12.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 12
Key Terms
business cycle prosperity recession depression
recovery inflation price index deflation
![Page 13: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/13.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 13
THE BUSINESS CYCLE
Prosperity Recession Depression Recovery
![Page 14: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/14.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 14
>> C H E C K P O I N T
What are the four phases of the business cycle?
![Page 15: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/15.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 15
CONSUMER PRICES
Inflation Causes of inflation Measuring inflation Deflation
![Page 16: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/16.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 16
>> C H E C K P O I N T
What are the main causes of inflation?
![Page 17: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/17.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 17
INTEREST RATES
Types of interest rates Changing interest rates
![Page 18: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/18.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 18
>> C H E C K P O I N T
How do interest rates affect business activities in our economy?
![Page 19: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/19.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 19
LESSON 2-3LESSON 2-3
Other Measures of Business Activity
Goals Discuss investment activities that
promote economic growth. Explain borrowing activities by
government, business, and consumers. Describe future concerns of economic
growth.
![Page 20: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/20.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 20
Key Terms
capital project stock bond budget surplus budget deficit national debt
![Page 21: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/21.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 21
INVESTMENT ACTIVITIES
Personal savings The stock market The bond market
![Page 22: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/22.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 22
>> C H E C K P O I N T
Name some examples of capital projects.
![Page 23: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/23.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 23
BORROWING
Government debt Business debt Consumer debt
![Page 24: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/24.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 24
>> C H E C K P O I N T
What is the cause of a budget deficit?
![Page 25: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/25.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 25
FUTURE ECONOMIC CHALLENGES Limited access to health care Need for proper housing for many
people Traffic and crime Unemployment
![Page 26: Itb Chap 02](https://reader033.vdocuments.site/reader033/viewer/2022061206/5482dab6b4af9f48318b457e/html5/thumbnails/26.jpg)
Introduction to Business© Thomson South-Western
Chapter 2
Slide 26
>> C H E C K P O I N T
What are future economic concerns for a country’s economy?