Intro to Business › Section A · Economic systems and business › Topic A.4
Macroeconomics: the big picture
Headlines about growth, jobs and prices are macroeconomic news, and every business feels them. This topic sets out the three goals by which a nation's economic health is judged, economic growth, full employment and price stability, and the measures used to track each one.
In this topic
- Three goals for a healthy economy
- Measuring growth with GDP
- The business cycle
- How cycles hit businesses
- Full employment and the unemployment rate
- Worked example: when the rate falls for a bad reason
- Four types of unemployment
- Price stability and purchasing power
- Measuring inflation: the CPI and PPI
- Worked example: who loses from inflation
- Common mistakes to avoid
- Key takeaways
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