Intro to Economics

What is Inflation?

https://youtube.com/watch?v=9BnsEfQb0bw%3Frel%3D0 Inflation is the rise in the price of goods and services over time. Inflation can impact governments and the little things in the life of ordinary people. If inflation rises too fast it knocks down the value of the currency and can lead to a recession. The Federal Reserve has an ideal inflation target …

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What is GDP?

https://youtube.com/watch?v=MhpTCoe-Kns%3Frel%3D0 GDP is short for Gross Domestic Product and is defined as a monetary measure of all goods and services produced in a period of time. The period of times measured are typically annually or quarterly. GDP is used to compare and determine performance in one’s economy to that of another country or region. You …

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Microeconomics vs Macroeconomics

https://youtube.com/watch?v=aKntRoSzG9U%3Frel%3D0 Economics is something all should have a basic understanding of. Economics in its simplest terms can be defined as the study of how society uses its limited resources. Econ is a social science and it studies production, distribution and consumption of goods and services. Individuals on a daily basis make decisions on how they’re …

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Unemployment Rate Explained Simply

https://youtube.com/watch?v=MFssGW0dE2o%3Frel%3D0 The Unemployment Rate explained simply. The Unemployment rate gives us a picture of the strength of the American economy. If there is high unemployment one can expect consumer spending to fall, so there is a ripple effect to this very important measurement. Unemployment will affect spending and often the pricing of goods and services …

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