Download Section 4 Providing Louisiana`s Goods and Services Vocabulary

Louisiana’s Economy
Resources and Rewards
Providing Louisiana’s
Goods and Services
Section 4 - Vocabulary
Define private goods and services
Private goods and services have
clear owners and are not available to
everyone.
Define public goods and services
Public goods and services meet the
needs of society instead of individuals.
Determine whether the items below are public
goods and services or private goods and services.
Define interdependent
Interdependent is an economic systems
where consumers and producers rely on
each other and on other economies to
succeed.
Define Superport
The Superport is the only offshore port/facility
in the United States capable of handling
extremely deep ships. This offshore port is
located in Louisiana.
Define tariffs
A tariff is the taxes placed on imported
items.
Define economic indicator
An economic indicator economic
information used to measure the
economy
List and describe economic indicators
•
GDP – Gross Domestic Product – this is the total
market value of all goods and services produced in the
United States in a certain period of time.
•
CPI – Consumer Price Index – A monthly price survey
for a list of goods and services checks for increase and
decrease
•
Inflation – When the CPI shows a steady increase
•
Unemployment Rate – Reports the people who are out
of a job or looking for a job.