002 The economy and interest rates
👩🏫 Teacher’s Guide
Objective
Students will learn basic ideas about the economy, inflation, and interest rates in simple terms.
Teaching Notes
- Explain economy as jobs + spending + businesses working together.
- Introduce inflation as prices rising.
- Explain interest rates as the cost of borrowing money.
🧒 Student Worksheet
Concept and Helping Material
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This lesson helps you learn The economy and interest rates and how outside forces influence business.
Vocabulary and Definition
- — The system of how money, jobs, and businesses work in a country.
- — The extra money paid when borrowing, or earned when saving.
- — When prices of goods and services increase over time.
- — Big world changes that can affect businesses, like disasters or wars.
- — The steps to make, move, and sell products.
Business QA
- What is the economy?
- How does the world around affect businesses?
- What is a global event?
- Name one example of a global event.
- What is a supply chain?
- How can supply chains be disrupted?
- What is inflation?
- How does inflation affect customers?
- What is an interest rate?
- Why do businesses borrow money?
- How do high interest rates affect borrowing?
- How do low interest rates affect borrowing?
- What happens when the economy is strong?
- What happens when the economy is weak?
- Why do businesses watch economic changes?
- How can world events change demand?
- Why do prices rise when supply is low?
- How can businesses adapt to change?
- What is one risk of global changes?
- Businesses succeed when they respond to the _____.
Hands-On Experiment or Activities
What You Need: paper, markers, event cards (storm, price rise, low interest).
What You Do: 1) Pretend you run a small store. 2) Draw an event card. 3) Decide how the event changes costs or customer demand. 4) Share how you would respond.
Think and Talk: What changed? What stayed the same?
Reflection
- How can world events affect businesses?
- What is inflation?
- How do interest rates affect borrowing?
- Why must businesses adapt to the economy?