COPYRIGHTED MATERIAL
consumer
a person or group of people, who acquire goods or services as the final user of those products or services.
local commerce
interacting businesses and governments of a local or regional area. commerce carried on within the borders of a single country.
domestic commerce global commerce
the worldwide system of businesses, government agencies, and organizations which interact to enable businesses to operate, and goods, money, and services to flow between nations.
SME small to medium sized business enterprise. multinational company a company that operates in several countries but is managed from its home country. trade balance the value difference between a nation's imports and exports. economic indicators collections of data which enable analysis of economic performance and predictions of future performance. Gross Domestic Product GDP; the total dollar value of all goods and services produced within a country’s borders annually; an indicator of the health of a nation’s economy. inflation a sustained increase in the general prices of goods and services over a period of time which erodes the value of money. e-commerce the buying and selling of goods or services transacted over the internet. PRODUCT PREVIEW Lesson Objectives By the end of this lesson the student will be able to: 1. Compare business and commerce . 2. Identify examples of commercial activity as local, domestic, or global. 3. List the elements of global commerce. 4. Explain the relationship of the consumer to commerce. 5. Summarize economic indicators GDP, CCI and CPI. “Love makes the world go ‘round.” Love is great. We love love! But do you know what really makes the world go round? (Cross out “love” and write “money”.) Money, or to be more precise, the pursuit of wealth and prosperity drives almost everything people and societies do. What do you know about money? Do you know how it works in the world? What do you know about pursuing wealth and prosperity? The answers to these questions depend very much on whether you are financially literate . SLIDE 1F SLIDE 1G Gaining Attention Write this sentence on the board:
4
Lesson 1 | Look Out, You’re Surrounded!
Made with FlippingBook flipbook maker