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Quick Review Ch. 16 - 18

Quick Review Ch. 16 - 18. What role does government play in our economy? What is the Federal Reserve and what does it do? Why do you think our government is having such a difficult time maintaining a balanced budget?. Chapter NC 18 The Economy and Careers in NC.

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Quick Review Ch. 16 - 18

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  1. Quick Review Ch. 16 - 18 • What role does government play in our economy? • What is the Federal Reserve and what does it do? • Why do you think our government is having such a difficult time maintaining a balanced budget?

  2. Chapter NC 18The Economy and Careers in NC • *Key Idea: The health of the economy is vital to the success of a state. Economic opportunity was one of the main factors that drew settlers to NC in the first place.

  3. Section 1: Working in NC • 2 Words to Characterize NC’s Economy over Time: Change and Diversity • NC’s Economy by Sectors (as of 2004) • 57% Services, Information and Trade • 20% Manufacturing (making goods by machine or hand) • 13% Government • 7% Mining, Utilities and Construction • 2% Transportation • 1% Agriculture, Forestry and Fishing / Hunting

  4. Growing Industries in NC • Biotechnology: the application of technology to solve problems involving living organisms • Ex: Develop more drought-resistant crops or invent / manufacture new medicines • * Research Triangle Park (located bw Raleigh, Durham and Chapel Hill) is the center of the state’s biotechnology industry • Information Technology: the use of computers for the storage, communication, and use of data Aren’t you glad you are @ BECHS??!!

  5. The State Govt.’s Role in NC’s Economy • *NC Govt. tries to promote business and protect the interests of NC workers. • Dept. of Commerce • Works to bring new companies and industries to NC • Investing $ in Workers • Spends $ on NC universities and Community Colleges • Funds programs to train NC workforce

  6. Section 2: NC in a Global Economy • Globalization: the growing interconnection of the economies of countries around the world. • *This impacts NC businesses, employees and consumers.

  7. Globalism Brings Opportunities and Challenges to NC • Opportunities • NC exports goods and services to foreign countries such as Canada, Japan and Mexico • Foreign countries invest $ in NC business ventures • Challenges • It may cost less to manufacture a good in a foreign country, so there are now less manufacturing jobs • Ex: Assembling furniture in China instead of NC • Less jobs means less people to spend money and help other businesses

  8. Quick Review of NC Ch. 18 • Why are change and diversity good words to describe the workforce of NC? • Why might BECHS be an ideal place to help you prepare to enter the workforce of NC? • How might the NC government have an effect of NC’s economy? • Can you explain the role NC plays within the context of a global economy?

  9. NC Ch. 18 AssessmentPage NC18 – 18 (Following Chapter 18) • Complete # 1 – 10; 14 • Reviewing Key Terms • Write out the sentence with correct term underlined. • Comprehension, Critical Thinking and Activities • Write out the question and your response. * Turn in for a grade when completed..

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