巴德 宏观经济学原理（英文版·第8版）Chapter 2 PowerPoint.pptxVIP

Who makes the Dreamliner? 2When you have completed your study of this chapter, you will be able to1 Describe what, how, and for whom goods and services are produced in the United States.2 Describe what, how, and for whom goods and services are produced in the global economy.3 Use the circular flow model of the U.S. economy and of the global economy.CHAPTER CHECKLISTThe U.S. andGlobal Economies 2.1 WHAT, HOW, AND FOR WHOM?What Do We Produce?We divide the vast array of goods and services produced into: Consumption goods and services Capital goods 2.1 WHAT, HOW, AND FOR WHOM?Consumption goods and services are goods and services that are bought by individuals and used to provide personal enjoyment and contribute to a person’s standard of living. Examples are movies and laundromat services.Capital goods are goods that are bought by businesses to increase their productive resources. Examples are cranes and trucks. 2.1 WHAT, HOW, AND FOR WHOM?How Do We Produce?Factors of production are the productive resources used to produce goods and services.Factors of production are grouped into four categories: Land Labor Capital Entrepreneurship 2.1 WHAT, HOW, AND FOR WHOM?LandLand includes all the “gifts of nature” that we use to produce goods and services. Land includes all the things we call natural resources.Land includes minerals, water, air, wild plants, animals, birds, and fish as well as farmland and forests. 2.1 WHAT, HOW, AND FOR WHOM?LaborLabor is the work time and work effort that people devote to producing goods and services.The quality of labor depends on how skilled people are—what economists call human capital.Human capital is the knowledge and skill that people obtain from education, on-the-job training, and work experience. 2.1 WHAT, HOW, AND FOR WHOM?CapitalCapital consists of tools, instruments, machines, buildings, and other items that have been produced in the past and that businesses now use to produce goods and services.Capital includes semifinis