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How did 911 affect consumers

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How did 9/11 affect consumers? Higher gas prices. Higher $ airline tickets ... More patriotic. Stock market. Market System. Unit 2. Economic Systems ... – PowerPoint PPT presentation

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Title: How did 911 affect consumers


1
How did 9/11 affect consumers?
  • Higher gas prices
  • Higher airline tickets
  • More difficult to buy weapons
  • Inconvenience at airports
  • More and better inspections
  • Airline problems
  • International travel more difficult
  • More patriotic
  • Stock market

2
Market System
  • Unit 2

3
Economic Systems
  • Nations way to provide for its peoples wants
    and needs
  • Must answer these 4 questions
  • What and how much should be produced?
  • How should we produce?
  • Who should produce it?
  • Who should share what we produce?

4
Economic Systems
  • 5 Basic types
  • Traditional old fashioned way
  • Command or controlled government makes all
    economic decisions
  • Market individuals are in charge of production
  • Mixed combo of command and market
  • Developing economy which is not yet
    industrialized

5
Resources
  • Land also includes natural resources
  • Labor work force
  • Capital property that people use to produce
    good
  • Entrepreneurship ability to start new
    businesses
  • Technology use of all resources to
    produce goods more efficiently

6
Other variables affecting our economic system
  • Supply and demand
  • When supply is greater than demand, prices fall.
  • When demand is greater than supply, prices rise
  • Demand quality
  • Competition

7
Ups and Downs
  • Recession economy not growing
  • Inflation prices rising sharply (decline in
    purchasing power)

8
Measuring the Economy
  • Gross Domestic Product (GDP)
  • Real GDP
  • Consumer Price Index (CPI)
  • Interest rates (Ten-Year Treasury)
  • Balance of trade (imports/exports)
  • Unemployment (cyclical, frictional, structural)
  • Distribution redistribution of income
  • Deflation
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