BSM 100 Lecture Notes - Lecture 4: Franchising, Canadian National Railway, Sasktel
17 Jan 2017
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Document Summary
Gross domestic product: the total amount of goods and services produced in a country. Gdp is one measure of the current and future health of a country and can be used as a tool to compare across countries make informed decisions related to trade. A country"s gdp indicates the size of an economy (whether they are growing or not) Can indicate why or why not a country is growing; as well as the speed of growth. Cyclical unemployment is a result of just the natural business cycle. Seasonal unemployment getting jobs during certain seasons (eg. snow-plower, summer camp counselor, holiday retail workers, etc. ) Structural unemployment the most negative and unpredictable form of unemployment. The structure of the economy has changed (from where money is being generated has changed) certain industries become irrelevant. Therefore, education is a key factor, as people must be taught new skills in order for them to be successful in the economy.
