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review• How does our government regulate businesses to
ensure our environment is being protected?• How does our government regulate business to
ensure worker and consumer safety?• What are the pro’s and con’s of Affirmative action?• What role has the government taken in regard to
labor disputes?• What happens when the government stops or
decreases regulation?
Vocabulary
• Migration- People moving within a country. (Mr. Mason now lives in NC)
• Immigration- People moving into the U.S.• Downsizing- When a company cuts
production/employees in order to cut its costs.• Outsourcing- When a company pays another
company to perform tasks it previously did itself.
Warm Up?
• Can you think of any current events that may affect the economy? Think of the Island of Mocha.
• War on Terror, Middle East violence, natural disasters
1. Trevor goes to renew his car tags but is told that he cannot b/c his car doesn’t meet emissions standards since the car puts out too much pollution. Trevor’s car fails to meet standards that were likely put in place because of what?
A. A recessionB. Environmental concernsC. ScarcityD. Zoning laws
Impact of Population Shifts
Population Shifts • Migration
– Movement of people within a country
• Immigration – People moving into the U.S. from
another country
• More people are leaving the populated areas of the North for the South and western states.– Leaving the “Rust Belt” and the
“Frost Belt” – Moving to the “Sun Belt”
• Initially, this can cause problems but will eventually lead to economic growth.
Areas of Increasing Migration • Silicon Valley (Central
California) – Center of the computer industry.
• Research Triangle Park (Raleigh)– The largest research park in the
world.
• Service industries benefit in these areas because as population increases, so does the demand for goods and services.
Impact of Current Events• What happens in the world around us (wars,
political unrest, etc.) affects us economically.• The War on Terror
– In addition to the tragic loss of life those events had an economic impact as well.
– Instability effects peoples willingness/confidence to spend• Fewer spending means less $ for
businesses, which affects production, which affects prices, and so on…
• Airline Industry– Department of Homeland Security
• Created to establish confidence and stability in airline industry and in nations defenses against terrorism
The War on Terror– Patriot Act
• Increased law enforcements ability to track and investigate terrorist plots
– Operation Iraqi Freedom• US led international force invaded
Iraq to bring down Saddam Hussein
• These events all have economic/political consequences– Instability in the Middle East causes a
rise in gas prices, which causes a rise in price for almost all other products
– Terror alerts may cause people not to fly
Natural disasters• Hurricane Katrina 2005• Tsunami in Japan 2011• Tornadoes rip through
the south 2011
Legal Decisions• Anti-Trust Laws
– What do these laws prevent?• Monopolies
– The government uses anti-trust laws to break up monopolies. What affect does this have on the market?• When consumers have
options the prices of goods decrease and the quality of goods and efficiency of production increase.
– Microsoft• One of the most recent
anti-trust cases
Outsourcing and Downsizing
• Downsizing – Reduction of employees or
operations– This has a negative effect on
entire towns/cities or geographic regions as well• Detroit auto manufacturers
and NC textile and furniture industries
• Outsourcing– Businesses pay outside firms
to perform tasks that the company would have originally done itself
GRAPHIC ORGANIZER
• EQ: WHAT AFFECTS CAN CURRENT EVENTS & POPULATION SHIFTS HAVE ON THE ECONOMY?
Reflection• Summarize the difference b/w migration and
immigration.• Why are people leaving the “rust belt” and the “frost
belt” to move to the “sun belt”?• How are service industries impacted by an increase
in population in certain areas?• How does war impact the economy?• How do natural disasters impact the environment?• How has outsourcing and downsizing impacted our
environment?
Closing?
• Focus Question: Do the benefits of raising the minimum wage outweigh the drawbacks?