The business cycle: aggregate supply and demand | Business Economics | Colorado Technical University

Primary Response is due by Thursday (11:59:59pm Central), Peer Responses are due by Saturday (11:59:59pm Central).

Primary Response: Within the Discussion Board area, write 200–250 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

For this Discussion Board, please complete the following:

Gross domestic product (GDP) is a measurement of how much people produce of goods and services. What this means is that when more people are working, GDP goes up. When people are not working, GDP goes down. The more goods and services that are being produced, the healthier the economy. There is more money available to purchase goods and services, and there are more goods and services available to purchase.

Watch the following video to review GDP:

For this discussion, answer the following:

• Share an example of when you or someone you know lost their job. What good or service did they produce? How did losing their job change the amount of goods or services that they produced?
• Think about a business that closed. When a business closes, many people lose their paycheck. When you do not have a job, you spend less money. How does having less money to spend affect GDP?