Think about the larger economic situation in your country right now. how do the overall economy and its various aspects impact your life and finances?

Our overall economy is affected by what we buy, how the dollar is doing, how we are paying are debt to other countries and our political system

The most important aspects of our economy that impact our day-to-day lives are:

inflation rate: a high inflation rate reduces the purchasing power of the dollar, for example, we will need to spend more money to buy the same amount of groceries or clothes than a year before. unemployment rate: unemployment rate affects everyone, not only those seeking jobs (unemployed). A high unemployment rate means that the economy is about to enter a recession which eventually will lead to a fall in consumption and that affects the whole economy. Every business is affected directly or indirectly by a recession.  interest rate: if I want to buy a new car or a house, a higher interest rate will make it much more difficult to repay the loan, i.e. the loan becomes more expensive.  

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