CNN Student News Learning Activity: Business Cycles

CNN Student News Learning Activity: Business Cycles: 

CNN Student News Learning Activity: Business Cycles 2nd Period Kaylie R. Charlie B. Erin E. Natasha Brandon L. NOTE: This presentation will play by itself. WARNING!!! VIDEO MAY BE LONG!!!

Define: Business cycle, contraction, expansion, peak, trough, recession, Depression, Gross Domestic Product (GDP): 

Define: Business cycle, contraction, expansion, peak, trough, recession, Depression, Gross Domestic Product (GDP) Business cycle: Recurring, fairly predictable, general pattern of periodic fluctuations (as measured by gross national product) in national economies Contraction: Period of general economic decline characterized by high unemployment, falling wages, and (usually) low inflation Expansion: Growth, as in an economic recovery Peak: The highest point in the economic cycle; forms after a period of economic expansion and before the beginning of a period of economic contraction Trough: The lowest point in the economic cycle; forms after a period of contraction ends and before a period of expansion begins Recession: Period of general economic decline, defined usually as a contraction in the GDP for six months (two consecutive quarters) or longer Depression: A period during which business activity drops significantly; high unemployment rates and deflation usually go along with it. Gross Domestic Product (GDP): The value of a country's overall output of goods and services (typically during one fiscal year) at market prices, excluding net income from abroad

What products or services is this community known for?: 

What products or services is this community known for? Charlotte is known for its banking. It is also known for being the home of the Carolina Panthers in the Stadium and for the Charlotte Motor Speedway (NASCAR). As of 2010 Charlotte is the second largest banking center in the United States behind only New York City. The Charlotte region is North Carolina’s largest manufacturing region. Over $37 Billion in goods is produced here. Mecklenburg County has every major type of manufacturing segment except leather product manufacturing

Is this community home to a large factory, retail store, corporate headquarters or other business interest?: 

Is this community home to a large factory, retail store, corporate headquarters or other business interest? Charlotte is home of the Carolina Panthers for one. It is also known as the home to the Charlotte NASCAR Speedway. Formally, we used to have Wachovia; but now, Wachovia has been taken over by Wells Fargo. Another factory or corporate headquarters that finds its home in Charlotte is Bank of America.

Are there federal, state, or local government offices that employ local residents nearby?: 

Are there federal, state, or local government offices that employ local residents nearby? T here is the local Charlotte Mecklenburg police, the DMV, Charlotte Mecklenburg Library Main branch, Government Center Charlotte, NC, and many more.

Have businesses or offices moved, downsized, or closed altogether with the last year? Are any expanding and actively hiring more workers?: 

Have businesses or offices moved, downsized, or closed altogether with the last year? Are any expanding and actively hiring more workers? Wachovia Charlotte was home to Wachovia until it’s 2008 acquisition by Wells Fargo 550 jobs were lost in the process and an additional loss of 300 is expected Charlotte is now home to the East Coast Branch of Wells Fargo Growth Charlotte has shown tremendous economic growth over the past decade Number of jobs has increased due to more and more businesses and manufacturing firms coming to Charlotte (See question 2) Ranked number 8 in future job growth by Forbes Magazine

How are small businesses faring? How is it possible to determine economic trends for small businesses?: 

How are small businesses faring? How is it possible to determine economic trends for small businesses? The Small businesses in Charlotte are growing, due to help from Mayor Foxx. Small businesses are getting financial aid from Mayor Foxx’s policies, he also declared November 26 th “Small Business Saturday” which is a national movement, but Mayor Foxx is bringing it to Charlotte. The NFIB reports the small business optimism index each month, based on 10 key elements. These elements are: outlook, earnings, sales, prices, employment, compensation, credit, interest rates, inventories, capital outlays.

How would you describe Charlotte’s current position in the business cycle?: 

How would you describe Charlotte’s current position in the business cycle? We determined Charlotte was coming out of a trough in the business cycle, and is experiencing expansion right now. One indication of expansion is low interest rates. Additionally, the Bureau of Labor Statistics reported lower unemployment rates, and wage increases for common industries, these can be used as indicators for economic growth as well.

Ways in which local economies affect teenagers, how fewer full-time jobs for adults affects us, and how does local business growth impact teenagers’ opportunities: 

Ways in which local economies affect teenagers, how fewer full-time jobs for adults affects us, and how does local business growth impact teenagers’ opportunities If the economy has fewer full-time jobs available, more adults would be seeking part-time jobs. This means that there would be less opportunity for teenagers to find part-time employment. If there is no growth in local businesses, there are no new jobs to be offered, thus limiting options for teenagers’. To cope with downturns, teenagers can look for jobs which always have a demand, such as mowing lawns. They can take advantage of expansions by finding part-time jobs, to help earn money for college, and to explore new ideas.