ECN211 L8 private and public sector_BB

ECN211 L8 private and public sector_BB - ECN 211...

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10/05/09 1 ECN 211 Macroeconomic Principles L8: Private and Public sector
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10/05/09 2 The Private and Public Sector _______________ Households Business Firms The International Sector ______________ Government
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10/05/09 3 Households … one or more persons who _________ a unit of housing Households spending is called _______________ Consume housing, transportation, good, entertainment etc. Durable Vs Non-durable consumption ________: a good that ____________ fully consumed “used up” in a single usage Televisions, furniture etc ___________: a good that ____ fully consumed “used up” in a single usage Food, Gas, drinks etc
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10/05/09 4 Size Distribution of Households in the United States
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10/05/09 5 (Nominal) Household Spending and Income
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10/05/09 6 Business Firm … a business organization controlled by a single management Forms of business organization: __________________ Business owned by one person – owner receives all profits and are responsibly for all debts incurred _________________ Business owned by two or more people
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ECN211 L8 private and public sector_BB - ECN 211...

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