About This Chapter
MEGA Marketing: Economic Growth & Indicators- Chapter Summary
This chapter contains lessons covering economic growth and development, including circular flow of economic activity, gross domestic product, and consumer price index. Also covered are types of inflation, economic model, and the use of economic indicators. By the end of this chapter, you should be familiar with:
- Theories and definition of economic growth and development
- Circular flow of goods, services and resources
- The gross domestic product and the income and expenditure approaches
- Consumer price index and measuring the cost of living
- Demand-pull inflation vs. cost-push inflation
- Using economic indicators to develop marketing plans
Knowledgeable instructors walk you through each lesson and are available to answer any questions you may have. Short, engaging video lessons make the material fun and interesting, and you can test your understanding of the lessons with self-assessment quizzes. Track your progress through the course by visiting your Dashboard.
Economic Growth & Indicators - Chapter Objectives
The Missouri Educator Gateway Assessments are used for teacher licensing and are used to assess competency in various subject areas. The content in this Economic Growth and Indicators chapter of the study guide covers material that is tested in the core marketing principles section, which comprises about 36% of the entire exam. All questions on this computer-based exam are multiple-choice.
1. What Is Economic Growth and Development? - Definition, Theories & Indicators
A country's economic health can usually be measured by looking at that country's economic growth and development. This lesson defines and explains economic growth and economic development, including the role of U.S. foreign aid.
2. Circular Flow of Economic Activity: The Flow of Goods, Services & Resources
Learn about the simple model used to describe where money goes and what it is exchanged for in a market economy. The circular flow model of economic activity shows you the basic relationships between households, firms and the government.
3. Overview of the Gross Domestic Product
In this lesson, we explore the economic measurement, gross domestic product (GDP), what is included and what is not, and a few tricks economists use to calculate GDP.
4. Gross Domestic Product: Using the Income and Expenditure Approaches
In this lesson, you will learn how economists measure gross domestic product using two different methods - the income approach and the expenditure approach.
5. 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?
6. Demand-Pull Inflation vs Cost-Push Inflation
Discover two basic types of inflation, demand-pull and cost-push inflation. Learn what factors cause each type of inflation and some of the key differences between each.
7. What is an Economic Model? - Definition & Example
Economic models are used by economists to communicate current economic conditions - causes and effects on the future of the economy. This lesson will present economic models, definitions, and examples to help bring clarity to the issue.
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Other chapters within the MEGA Marketing: Practice & Study Guide course
- MEGA Marketing: Basic Concepts
- MEGA Marketing: Communication Methods & Functions
- MEGA Marketing: Environments & Strategies
- MEGA Marketing: Ethics & Public Relations
- MEGA Marketing: The Business Cycle
- MEGA Marketing: Market System Economics & Politics
- MEGA Marketing: Business Ownership
- MEGA Marketing: Business Plans
- MEGA Marketing: Functions of Management
- MEGA Marketing: Principles of Financial Management
- MEGA Marketing: Business Calculation Basics
- MEGA Marketing: Interpreting Data & Graphs
- MEGA Marketing: Graphing & Evaluating Equations & Functions
- MEGA Marketing: Quadratic Equations & Functions
- MEGA Marketing: Probability & Statistics for Business
- MEGA Marketing: Depreciation & Salvage Values
- MEGA Marketing: Interest & Purchases
- MEGA Marketing: Financial Analysis Calculations
- MEGA Marketing: Product Development & Retailing
- MEGA Marketing: Services Marketing
- MEGA Marketing: The Marketing Mix & Promotional Strategies
- MEGA Marketing: Consumer Protection Laws
- MEGA Marketing: Selling & Pricing Strategy
- MEGA Marketing: Channel Management
- MEGA Marketing: Segmentation & Product Marketing
- MEGA Marketing: Competitive Advantage
- MEGA Marketing: Consumer Decision Making
- MEGA Marketing: International Marketplace
- MEGA Marketing: Research & Data Applications
- MEGA Marketing: Computer Literacy
- MEGA Marketing: Careers in Marketing
- MEGA Marketing Flashcards