Eastlake High School Economic Household Spending Response


Instructions: For the following response, respond thoughtfully. Just saying “I agree” or “I disagree” does not constitute a thoughtful response.  State your opinion. Do you agree with them? If so why or why not?

“Spending by the household sector is the largest component—constituting about 70 percent of total spending in the economy. ” 

This sentence is significant to me because of the impact it has on our economy/GDP. Household spending is crucial to maintaining a stable and well off economy for both the consumer and the producer. Especially during this current pandemic, we’ve seen the prices fluctuate greatly because people are trying to save and are spending less money overall besides essentials. It really puts things in perspective.