About This Chapter
CEOE Marketing Education: Economics Overview - Chapter Summary
The lessons in this chapter help you become familiar with a variety of economics topics that could pop up on the CEOE Marketing Education exam, such as gross domestic product and the Consumer Price Index. More topics that you can review in this chapter include the following:
- Basic microeconomics and macroeconomics issues
- The different types of economic resources
- International trade organizations and trade agreements
- Importing and exporting in a global market
- International trade regulations and restrictions
- Natural rate of unemployment
- The business cycle
- Exchange rate conversion across countries
- How the government protects the U.S. economy
- Free enterprise
You can easily go back over any video parts after your initial review by using the handy video tags. Once you've checked out a lesson, you can take a quick self-assessment quiz to test your comprehension.
Objectives of the CEOE Marketing Education: Economics Overview Chapter
The CEOE Marketing Education test comes in a computer-based format and has 100 total questions that are all multiple choice. The exam is used to see if your level of expertise with the subject content is in alignment with Oklahoma standards for marketing instructors. This chapter reviews content that is fair game for the exam according to the competencies assessed in the test's third subarea, Economics, Business, and Entrepreneurship.
1. Macroeconomic Issues in Business
Businesses ignore general economic issues, such as inflation, interest rates and unemployment, at their own peril. In this lesson, you'll learn about some key economic issues important for businesses to track. A short quiz follows.
2. How the Government Protects the U.S. Economy
The following lesson will cover the ways in which the government protects the U.S. economy and ensures stable economic growth. A short quiz will follow the lesson to check for your understanding.
3. The Business Cycle: Economic Performance Over Time
Learn the economic terms that describe economic performance over time and how indicators such as unemployment and inflation behave throughout these economic fluctuations.
4. How Fiscal Policy and Monetary Policy Affect the Economy
Governments often intervene in their economies in an attempt to maintain economic stability. In this lesson, you'll learn about fiscal and monetary policies, including what effect they can have on a national economy. A short quiz follows.
5. Growth Policy and Economic Productivity
What do savings accounts and promoting education have to do with helping the economy to grow? In this lesson, we will explore government policies that help promote higher long-run economic growth.
6. Gross Domestic Product: Definition and Components
Learn how economists measure the total production of an economy using gross domestic product (GDP). This lesson also outlines the components that make up a GDP. How do we calculate the economic value of a nation?
7. How to Calculate the Break-Even Point - Definition & Formula
The break-even point is an important measurement in understanding the health of a company. This lesson explains what the break-even point is, how the break-even point is calculated and the formula for determining the break-even point.
8. Natural Rate of Unemployment: Definition and Formula
Explore the natural level of employment through the eyes of the Classical School and Keynesian economics, including fiscal policies that may reduce it.
9. Consumer Price Index: Measuring the Cost of Living and Inflation
In this lesson, you'll learn what the Consumer Price Index is and how it measures changes in the level of prices in an economy. You'll also learn about the important economic concepts of inflation and deflation. Why do prices always seem to be going up?
10. International Trade Regulations & Restrictions
Importing and exporting are vital elements to a healthy U.S. economy. Businesses should be familiar with international laws regarding trade. This lesson defines imports and exports and discusses international trade regulations and restrictions.
11. International Trade Organizations and Trade Agreements
International trade organizations and trade agreements have enormous power in the global trade environment. In this lesson, you will learn about the roles of the GATT, NAFTA, and the World Trade Organization.
12. Importing and Exporting in a Global Market: Definition, Process & Importance
The lifeblood of the global market is trade. In this lesson, you'll learn about the importance of importing and exporting and related concepts including trade deficits, balance of payments, and formal and informal barriers to trade.
13. Exchange Rate: Determination and Conversion Across Countries
Understand what exchange rates are and the different types that can be used by governments and countries. See how they operate and how the conversion process works across countries.
14. Free Enterprise: Profit, Risk, Competition & Productivity
This lesson will discuss the concept of free enterprise as an economic system. It will also discuss the key motivating factors of free enterprise, their benefits, and their challenges. These factors include profit, risk, competition and productivity.
15. How Microeconomic Principles Affect Business Decisions
This lesson explains how microeconomic principles affect the decision-making processes of businesses. Examples will illustrate how these principles impact labor, productivity, the types of goods and services offered, supply and demand, economic utility, and pricing.
16. What are Economic Resources? - Definition, Types & Examples
If there are no resources, an economy cannot be sustained. In this lesson, you'll learn what economic resources are, the different types of economic resources, and why they are vitally important. A short quiz follows the lesson.
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Other chapters within the OSAT Marketing Education (CEOE) (041): Practice & Study Guide course
- CEOE Marketing: Marketing Principles
- CEOE Marketing: Researching, Collecting & Evaluating Data
- CEOE Marketing: Strategies & Segmentation
- CEOE Marketing: Product Management
- CEOE Marketing: Brand Positioning & Consumer Protection
- CEOE Marketing: Pricing Strategies
- CEOE Marketing: Distribution Channels
- CEOE Marketing: The Selling Process
- CEOE Marketing: Customer Service
- CEOE Marketing: Role & Impact of Promotion
- CEOE Marketing: Merchandising
- CEOE Marketing: Security & Safety Issues
- CEOE Marketing: Business Structures & Organization
- CEOE Marketing: The Marketing Plan
- CEOE Marketing: Financial Principles
- CEOE Marketing: Business Communication
- CEOE Marketing: Human Resource Management
- CEOE Marketing: Human Relations & Leadership Skills
- CEOE Marketing: Motivation in the Workplace
- CEOE Marketing: Information Management
- CEOE Marketing: Professional Development
- OSAT Marketing Education (CEOE) (041) Flashcards