The Context of Business

Read Module 1 on pages 51–74 for an explanation of the United States economy.

American workers are considered some of the most productive in the world. Productivity is your final output after you have considered the hours worked. Our productivity in this country has grown because technology has lowered the cost of producing goods and services.

As you read these pages, please note that for this first section, you are focusing on macroeconomics, which includes the gross domestic product, unemployment rate, and price indexes.