You can learn about the basics of the economy by going to a library and picking up a book on economics, but it’s just not easy enough.
I’m not saying it’s too difficult, but I don’t know. If you want to learn about the economy in an easy-to-digest way that can teach you helpful tips on how to be financially savvy with just a little bit of effort, consider this post!
This Airsatellite post will give you a list of articles that cover topics like what GDP is, how prices are determined, and more.
1. Economic Activity
What is GDP (Gross Domestic Product)? When you read the news, you often talk about “the economy” in all sorts of ways. You hear things like, “The economy is booming,” “The economy is down,” and so on.
But what exactly does it mean when economists use the term “the economy”? This article describes how economists measure economic activity by looking at the money that businesses keep in their bank accounts.
The article gives definitions for GDP used in different countries overall, as well as what happens to its component parts over time.
If you’re curious about how much money the U.S. government has or how much money is in your checking account, this article is very useful.
2. Price Determination
This article gives an explanation of why prices are different than they used to be. In the old days, a loaf of bread would cost a dollar and a pound of potatoes would cost a nickel.
Today you can buy a loaf for close to $1 and a pound for about $0.25. This is because modern commodities have gotten more expensive as demand has increased throughout history.
This article also provides info on how things like the price of gas have gotten so expensive over the years as well as what affects inflation or deflation can do to prices because it affects demand and supply too.
3. Inflation, Deflation, and Inflation
Inflation is a big part of the economy today. The Fed uses inflation as a way to regulate the money supply, which affects everything from the price of a loaf of bread to how much money you can get on savings.
This article explains what inflation is and how it affects prices in general terms that everyone can understand.
It also gives a brief explanation on deflation and why that can happen. With a little bit of common sense, you should be able to start grasping some aspects about how inflation works right away with this article!
4. Monetary Policy
The Federal Reserve is in charge of the money supply in the United States. They do this by regulating monetary policy.
This article explains why monetary policy is necessary and where it came from originally.
It also goes into detail about how the Fed affects things like interest rates and inflation using quantitative easing and other methods.
If you’re curious about what all that means, and how and why it impacts the U.S., then this is a good read for you!
5. Monetary Policy, Interest Rates, and International Economic Policy
This long article talks about both governmental policy and interest rates to help you understand how everything comes together to create or destroy economic activity at both a national level (i.e. United States) and an international level (i.e. U.S. vs European Union). The article talks about things like the central bank, how it works, and what its goals are as well as how it affects interest rates by regulating monetary policy.
6. Economic Indicators
Do you ever wonder how you can tell that the economy is doing well? This article can answer that question for you! It lists out about 25 different economic indicators, including the GDP growth rate, job numbers, PPI numbers, etc.
If you want to get a more in-depth look on how the economy is doing, this article can let you know by putting all of the pieces together.
7. How the Economy Affects You
The economy affects everyone. This article describes how it affects different types of people in different ways.
It gives a brief outline of how the different types of people who make up the U.S. work and how changes in the economy affect them differently depending on their location and income level (e.g., poor vs wealthy).
It also gives a quick breakdown of how the Fed works to control the economy.
8. The Importance of Economic Security
The best way to understand why certain things are important is to simply look at how it affects you directly.
This article does just that by giving examples of people who are impacted differently by the economy due to their income level, age, children, schooling, and more.
If you’re curious about what makes good economic decisions for you (e.g., saving money), then this article will help you considerably!