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Transcript 

Command - government answers questions
› North Korea
› Cuba

Market – consumers answer questions
› Pure Market - black market drug/weapons trade
› Free Enterprise – mixed economy

Traditional – ritual/past dictates answers
› Amish

Complete GDP Packet
Does a high GDP = a high standard of living?

Definition
› Most comprehensive measure of economy
› Final market value of the output of all the
stuff we make in a year

70% of the US GDP comes from
› Consumer spending

Calculate the GDP of France
Athletic shoes
 Car
 Television
 Camera
 Stereo System
 Bicycle
 Computer

How many were made by foreign countries?

http://www.youtube.com/watch?v=38M
fZ17nT50&safety_mode=true&persist_safe
ty_mode=1&saf e=active

Effects of global marketing on US
economy
› Outsourcing
 Unemployment
 Foreclosures
 Bankruptcy
› Cheaper better products
 Clothing
 Electronics

Tariff – tax on imported goods
› Increases price to benefit local goods
› Produces revenue for country
› Duty free means no tax

Embargo – total ban on specific goods
› Health reasons – mad cow disease
› Political reasons – Iran and Cuba

Quotas – limit on amount of good
imported/exported

Emerging global economies:
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›
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Malaysia
Saudi Arabia
United Arab Emirates
Turkey
Russia
Mexico
Indonesia
Brazil
India
Divide into pairs
 Choose a country from the list
 Complete internet activity


http://www.youtube.com/watch?v=5_Y
PidwfylM&safety_mode=true&persist_saf
ety_mode=1&safe=active

Expansion
› Businesses expanding/Production rises
› Low unemployment
› Consumers confident and spending

Economy slows down
› Layoffs
› Consumer spending down
› Production decreases

Trough
› Life is tough, but, slowing stops
› May show signs of recovery
› May “double dip” or go into depression

Recovery
› Jobs created = unemployment down
› Consumers spending rises
› Production rises
http://www.youtube.com/watch?v=1Eb
kXmVbTDg&safety_mode=true&persist_s
afety_mode=1&safe=active
 http://www.youtube.com/watch?v=Ott
qMTDIUFw&safety_mode=true&persist_sa
fety_mode=1&safe=active
 http://www.youtube.com/watch?v=hkn
MemX82hI&safety_mode=true&persist_sa
fety_mode=1&safe=active

Choose a partner and a state
 Research what that state produces

› What are the current major industries
› What is the unemployment rate
› What major industries were outsourced
 How has that affected unemployment
› Do natural resources create local industry

Create a PPT presentation
› Include the above information
› Include suggestions for new industries
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