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WorksheetsEconomic Indicators
Total questions: 11
Worksheet time: 8mins
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.
Business cycle has four phases:
expansion, peak, contraction, trough
peak, expansion, concept, decline
contraction, peak, expansion, uprise
trough, peak, decline, uprise
