About This Chapter
OAE: Macroeconomics & Marketing - Chapter Summary
Watch the comprehensive video lessons in this chapter to strengthen your knowledge of the exchange rate, inflation and other macroeconomics topics that you may encounter on the OAE Marketing test. The lessons can help you answer questions on the exam that address the following:
- Understanding primary, secondary and tertiary sectors of the modern economy
- Examining the limitations of capitalism and the free market
- Determining how a competitive environment affects business
- Explaining how the exchange rate is impacted by fiscal and monetary policies
- Defining the gross domestic product and unemployment rate
- Examining types, causes and effects of inflation
- Calculating and determining how changes in supply and demand affect market equilibrium
The video lessons in this chapter discuss the methods and functions necessary to tackle macroeconomics and marketing questions on the OAE Marketing test. The videos are presented in an entertaining fashion that makes the learning process fun, and you can also test your knowledge through the corresponding self-assessment quizzes.
OAE: Macroeconomics & Marketing Chapter Objectives
The OAE Marketing exam tests the knowledge of those seeking a credential to teach marketing in Ohio. The topics covered in this chapter are found within the economics, business and entrepreneurship portion of the test, which constitutes approximately 28% of the total exam. You can use the self-assessment quizzes in each lesson to determine how well you understand the materials and prepare for the types of questions you will encounter on exam day.
You'll have two hours to complete this 100-question exam; all questions are multiple choice and based on specific competencies. They typically come in the form of short paragraphs, statements or questions and may be accompanied by tables or graphs that help you understand the concepts.
1. The Modern Economy: Primary, Secondary & Tertiary Sectors
The modern economy can be divided into three sectors that reflect the economic development of that society. This lesson will discuss and explore the interaction between the primary, secondary and tertiary sectors of the modern economy.
2. Capitalism and the Free Market: Definition & Limitations
Capitalism is an economic system that has played a dominant part in building the world in which we currently live. In this lesson, you'll learn about some key concepts of capitalism, as well as its limitations.
3. How The Competitive Environment Affects Business: Examples & Importance
Competition is essential for the successful operation of a market economy. Competition helps provide the best products and services at the best price. In this lesson, you'll learn about competition and some strategies employed by competitors.
4. How Fiscal and Monetary Policies Affect the Exchange Rate
Discover how fiscal and monetary policy can affect the exchange rate and ultimately the amount of money it costs you to buy goods and services. Find out the three paths that both fiscal and monetary policy can travel to impact the exchange rate.
5. 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.
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. Defining and Measuring the Unemployment Rate
You've probably heard about the unemployment rate, especially given how high it was in the 2008 recession. Find out how economists define unemployment, what the unemployment rate is, and how to calculate it in this lesson.
8. Effects of Inflation on Suppliers and Demanders
In this lesson, you'll discover who benefits and who suffers from a sustained increase in prices within an economy. We'll cover the effects of expected and unexpected inflation on savers/creditors and borrowers/debtors.
9. How to Calculate Market Equilibrium
Supply and demand is an important part of macroeconomics. In this lesson, you'll learn how to calculate the equilibrium price and quantity in a market at the intersection of the supply and demand curves.
10. How Changes in Supply and Demand Affect Market Equilibrium
Learn how the equilibrium of a market changes when supply and demand curves increase and decrease and how different shifts in the curves can affect price.
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Other chapters within the Ohio Assessments for Educators - Marketing (026): Practice & Study Guide course
- OAE: Principles of Marketing
- OAE: Market Research
- OAE: Marketing Strategy
- OAE: Market Segmentation
- OAE: Product Planning in Marketing
- OAE: Pricing Strategies in Marketing
- OAE: Marketing Channels & Distribution
- OAE: Marketing for Consumer Decision Making
- OAE: Sales Strategy in Marketing
- OAE: Marketing & Promotions
- OAE: Promotional Design in Marketing
- OAE: Merchandising & Inventory in Marketing
- OAE: Microeconomics & Marketing
- OAE: Business Organization
- OAE: Entrepreneurship
- OAE: Finance & Credit
- OAE: Human Resources Management
- OAE: Human Resources & Staffing
- OAE: Business Law for Marketing
- OAE: Business Communication
- OAE: Business Math
- OAE: Business Technology
- OAE: Information Systems
- OAE: Management & Leadership
- OAE: Marketing Education
- OAE: Marketing Careers
- Ohio Assessments for Educators Marketing Flashcards