Economic Indicators

Why is consumer spending an important economic indicator?

• can be an indicator for an individual business’s economic growth

• consumer spending is not an economic indicator

• Consumer spending tells how much a person makes

• Consumer spending can be an indicator for what company a persons works for.

As the supply quantity of a product increases the prices

(a)  

As the demand for a product increases the price

• stays the same

• decrease

• increase

• changes by 10 points

Surplus is

• when a product is produced in larger quantities than it is demanded

• when a product is demanded in larger quantities than is produced

• too much food in the grocery store

• When my bank account is full

A shortage is

• when a product is demanded in larger quantities than is produced

• when a product is produced in larger quantities than it is demanded

• When too much food is in the grocery store

• When my bank account is full

Supply and Demand Equilibrium is

• when the quantity of a product supplied matches the quantity demanded

• can be found at the point where the demand curve meets the supply curve

• at this point, the producer and the consumer are satisfied with the price of the product and the amount produced

• part of the human brain

Employee Productivity can be increased by

• furnishing new equipment or facilities to support better efficiency

• arranging for more training or financial incentives

• decreasing employee ratio and giving more responsibilities to remaining employees

• asking the employees what to do

Gross Domestic Product (GDP) is....

• Is a measure of an economy’s output or production

• Is the total value of goods and services produced within a country’s borders within a specific period of time

• Depends on the country

• Provides an overall picture of the economy so policymakers and central banks can judge the economy of a country and make predictions for the future

Rate of Inflation is...

• Is the rate of rising prices in a country

• Signifies a stable economy when low, but an unstable economy when high

• how big you blow up a balloon

• when the government raises interest rates to keep people from borrowing money

Unemployment rate is..

• Is the amount of people without jobs

• Means economic decline when high

• Means economic expansion when low

• The amount of homeless animals on the street.