7.

5 Influence on Economic Activity

Environmental Protection
Environmental

Protection

Agency (EPA) Radioactive Waste Disposal Clean Air and Water Act

Environmental Protection Agency (EPA)

The

EPA is the government agency in charge of safeguarding the natural surroundings: Air, Water, and Land.

Radioactive Waste Disposal Many industries, especially

nuclear power plants need to dispose of radioactive waste. During the 80s, many companies filled barrels with waste and dumped it into the ocean causing pollution. Disposing of this waste is still a problem today. Where do you think we should put this waste?

Clean Air and Water Act

This

is a federal law that tries to reduce smog, air pollution, and the pollution of fresh water and ocean waters. This is why you have the emissions tests on your cars today.

Government Regulation
Depression Inflation Recession Bear Zoning

Market Bull Market

Laws Building Codes OPEC Oil Embargo Cuban Economic Embargo

Inflation
Inflation is the

sustained increase in the average level of prices. Check out the inflation calculator. Annual inflation is about 3.3%.

Bear Market
The

Bear Market refers to little faith in the Stock Market. People are losing money and expecting higher losses. The most famous Bear Market was between 1930-1932 during the Great Depression.

Bull Market
The

Bull Market tries to create buyer confidence in the stock market. The longest and most famous bull market was in the 1990s when the U.S. and many other global financial markets grew at their fastest pace ever.

Bear vs. Bull Markets

Trickle-Down Effect
The

trickle-down effect is a marketing phenomenon that affects many consumer goods, including - but not limited to - new technology and fashion. Initially a product may be so expensive that only the wealthy can afford it. Over time, however, the price will fall until it is inexpensive enough for the general public to purchase.

Zoning Laws
Zoning

is a term used in urban planning for a system of land-use regulation in various parts of the world. The word is derived from the practice of designating permitted uses of land based on mapped zones which separate one set of land uses from another.

Building Codes
Building

codes are rules that specify the minimum acceptable level of safety for constructed objects such as buildings. The main purpose of the building codes is to protect public health, safety and general welfare as they relate to the construction and occupancy of buildings and structures.

OPEC Oil Embargo

In

1973, the Arab countries belonging to OPEC declared they would no longer be sending oil to countries that supported Israel. The United States and Western Europe were two areas targeted. Prices increased dramatically and we tried to come up with new innovations to limit our dependency on these countries.

OPEC Oil Embargo

 In

1962, the USA enacted an embargo against Communist Cuba. Cuba was closely associated with the USSR during the Cold War, so we decided to stop trading with them, allowing American business or trade to Cuba, and halting American tourism. We still have an embargo on Cuba to this day, that is why Cuban cigars are illegal!

Cuban Economic Embargo

Cuban Economic Embargo

JFK & Fidel Castro