{"id":57324,"date":"2023-07-31T19:47:17","date_gmt":"2023-07-31T19:47:17","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/economics-for-beginners\/"},"modified":"2024-04-02T13:39:26","modified_gmt":"2024-04-02T17:39:26","slug":"economics-for-beginners","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/economics-for-beginners\/","title":{"rendered":"Economics for Beginners"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-6ba379fd wp-block-group-is-layout-constrained\">\n<p class=\"h3\">Learn about economic indicators like Gross Domestic Product (GDP), consumption, and government budgets and how they can impact your finances today and in the future.<\/p>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-dbea2040-9c9e-42bd-9f21-4f3d258c55bc\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-t-0 pad-b-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column mar-r mob-mar-r-0 mob-mar-b-dbl is-layout-flow wp-block-column-is-layout-flow\">\n<article id=\"post-58156\" class=\"loop-post featured-vertical mob-pad-b-dbl post-58156 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-managing-money rbc_content_type-article rbc_audience-business-owners rbc_lob_group-business rbc_difficulty_level-beginner rbc_mmm_category-business rbc_mmm_category-business-stages rbc_mmm_category-debt-stress-relief rbc_mmm_category-transition-your-business\">\n\t<div class=\"col-wpr mar-b-0\">\n\t\t\t\t\t<div class=\"col-md-12 mar-b mob-mar-b-dbl\">\n\t\t\t\t<div \n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Two people holding hands in a comforting way\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"680\"\n\t\t\theight=\"453\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-14T144640.431.jpg?quality=80&#038;w=680\"\n\t\t\talt=\"Two people holding hands in a comforting way\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\tstyle=\"object-position: 50% 50%; \"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t<div class=\"col-md-12 mob-mar-t-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/managing-money\/\">\n\t\t\t\t\t\t\t<span>Managing Money<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/business-stages\/transition-your-business\/the-human-side-of-economic-downturns\/\" class=\"h3 loop-post-title mar-t-0\">The Human Side of Economic Downturns<\/a>\n\t\t\t\t\t\t\t<p>Understanding the human impact of economic downturns can help individuals manage more effectively through financially challenging times.<\/p>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/article>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-rbc-rbccom-latest-posts\">\n<article id=\"post-74936\" class=\"single-post-card-wrapper post-74936 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-economy tag-managing-money rbc_content_type-article rbc_difficulty_level-beginner rbc_mmm_category-economics-101 rbc_mmm_category-economics-for-beginners rbc_mmm_category-money-academy\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/economy\/\">\n\t\t\t\t\t\t\t<span>Economy<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/economics-for-beginners\/what-is-money-and-how-does-it-drive-the-economy\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">What Is Money and How Does It Drive the Economy?<\/a>\n                    <p class=\"post-description\">Money is more than just the coins and bills tucked neatly in your wallet.  What is money really?<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n\n\n\n\n\n<article id=\"post-57543\" class=\"single-post-card-wrapper post-57543 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-ideas-and-insights tag-inflation tag-mutual-funds tag-stocks rbc_content_type-article rbc_lob_group-investments rbc_difficulty_level-advanced rbc_mmm_category-economics-101 rbc_mmm_category-economics-for-beginners rbc_mmm_category-inspired-investor rbc_mmm_category-investing-academy rbc_mmm_category-money-academy rbc_mmm_category-understanding-inflation\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/ideas-and-insights\/\">\n\t\t\t\t\t\t\t<span>Ideas and Insights<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/heres-how-markets-have-reacted-to-conflict-historically\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">Here&#8217;s how markets have reacted to conflict historically<\/a>\n                    <p class=\"post-description\">With ongoing uncertainties related to Russia&#039;s attack on Ukraine, RBC GAM looks back on past market reactions.<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-51da9ca6-a3fe-4a75-9c3a-bddf3a8cf156\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-t mob-pad-t pad-b mob-pad-b pad-l mob-pad-l pad-r mob-pad-r has-cool-white-background-color has-background\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block inner-section-cool-white section-inner  pad-b-0 mob-pad-b-0 pad-t-0 mob-pad-t-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns are-vertically-aligned-center is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center pad-r-hlf mob-pad-r-hlf mar-b-dbl mob-mar-b-dbl mob-mar-t mar-t is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading\" id=\"h-10-minute-take-podcast\">10 Minute Take Podcast<\/h3>\n\n\n\n<p>Macroeconomics for everybody! The 10-Minute Take podcast from RBC Economics will explain (in simple terms) what the latest economic data means and why you should care. It\u2019s everything you wanted to know but were too shy to ask \u2014 in less than 10 minutes.<\/p>\n\n\n\n<p><a href=\"https:\/\/thoughtleadership.rbc.com\/the-10-minute-take\/\" target=\"_blank\" data-dig-id=\"LP-85858-f6178dee\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"View More from This Podcast\" class=\"rbc-link-format externalsite-link\" data-icon-class=\"externalsite-link\" rel=\"noreferrer noopener\">View More from This Podcast<\/a><\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center has-white-background-color has-background is-content-justification-left is-layout-constrained wp-container-core-column-is-layout-8c890d92 wp-block-column-is-layout-constrained\" style=\"flex-basis:70%\">\n<div class=\"wp-block-columns is-style-default default mob-mar-b-hlf mar-b-hlf is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-center is-style-default default pad-t-hlf mob-pad-t-hlf pad-l-hlf mob-pad-l-hlf pad-r-hlf mob-pad-r-hlf is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"500\" height=\"500\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/avatars-m2yHhSWiqmW8rjd6-BryXYg-t500x500.jpg?quality=80&amp;w=500\" alt=\"\" class=\"wp-image-85865\" style=\"aspect-ratio:1;object-fit:cover\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/avatars-m2yHhSWiqmW8rjd6-BryXYg-t500x500.jpg 500w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/avatars-m2yHhSWiqmW8rjd6-BryXYg-t500x500.jpg?resize=150,150 150w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/03\/avatars-m2yHhSWiqmW8rjd6-BryXYg-t500x500.jpg?resize=300,300 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-center pad-l-hlf mob-pad-l-hlf pad-r-hlf mob-pad-t pad-t pad-b mob-pad-b mob-pad-r-hlf is-layout-flow wp-block-column-is-layout-flow\"><ul class=\"has-dates has-authors has-excerpts aligncenter wp-block-rss\"><li class='wp-block-rss__item'><div class='wp-block-rss__item-title'><a href='https:\/\/thoughtleadership.rbc.com\/economics\/'>Are higher oil prices good or bad for Canada\u2019s economy?<\/a><\/div><time datetime=\"2026-03-26T12:43:00-04:00\" class=\"wp-block-rss__item-publish-date\">March 26, 2026<\/time> <span class=\"wp-block-rss__item-author\">by The 10-Minute Take<\/span><div class=\"wp-block-rss__item-excerpt\">Ongoing conflict in the Middle East has pushed global oil prices higher, raising questions about the impact to Canada\u2019s oil-exporting economy.This shock differs fundamentally from the past including 2015\u2019s oil price collapse, which drove structural [&hellip;]<\/div><\/li><\/ul><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-274adbfc-54ab-44ff-9294-4f95194fbdaa\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading pad-b mob-pad-b\" id=\"h-more-from-economics-for-beginners\">More From Economics for Beginners<\/h2>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:60%\">\t\t<div class=\" wp-block-rbc-latest-posts wp-block-rbc-latest-posts-type-2\">\n\t\t\t\n<article id=\"post-74936\" class=\"rbc-latest-posts-content-card-type-2 post-74936 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-economy tag-managing-money rbc_content_type-article rbc_difficulty_level-beginner rbc_mmm_category-economics-101 rbc_mmm_category-economics-for-beginners rbc_mmm_category-money-academy\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Glass globe surrounded by a stack with coins.\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-31T120240.836-1.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"Glass globe surrounded by a stack with coins.\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/economy\/\">\n\t\t\t\t\t\t\t<span>Economy<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/economics-101\/economics-for-beginners\/what-is-money-and-how-does-it-drive-the-economy\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">What Is Money and How Does It Drive the Economy?<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">Money is more than just the coins and bills tucked neatly in your wallet.  What is money really?<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-74936 -->\n\n<article id=\"post-57500\" class=\"rbc-latest-posts-content-card-type-2 post-57500 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-commercial-insights tag-supply-chain rbc_content_type-article rbc_audience-business-owners rbc_lob_group-business rbc_difficulty_level-beginner rbc_mmm_category-business rbc_mmm_category-commercial rbc_mmm_category-economics-101 rbc_mmm_category-economics-for-beginners rbc_mmm_category-money-academy rbc_mmm_category-right-sized-business-advice\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Arial photo of shipping containers representing supply chains\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2023-03-09T135140.780.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"Arial photo of shipping containers representing supply chains\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/commercial-insights\/\">\n\t\t\t\t\t\t\t<span>Commercial Insights<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/business\/right-sized-business-advice\/commercial\/how-canada-can-rebound-from-recent-international-trade-pressures\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">How Canada can Rebound From Recent International Trade Pressures<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">With the right strategies, Canada can rebuild its international trade muscle and overcome recent losses.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-57500 -->\n\n<article id=\"post-57939\" class=\"rbc-latest-posts-content-card-type-2 post-57939 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-etfs tag-ideas-and-insights tag-mutual-funds tag-stocks rbc_content_type-article rbc_lob_group-investments rbc_difficulty_level-advanced rbc_mmm_category-economics-101 rbc_mmm_category-economics-for-beginners rbc_mmm_category-inspired-investor rbc_mmm_category-investing rbc_mmm_category-investing-academy rbc_mmm_category-money-academy rbc_mmm_category-types-of-investments\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"An illustration shows a dollar sign on a desk.\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/TD-2022-11-07T152602.854-1.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"An illustration shows a dollar sign on a desk.\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/stocks\/\">\n\t\t\t\t\t\t\t<span>Stocks<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/investing-academy\/why-long-term-investing-strategies-have-a-silver-lining\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">Why Long-Term Investing Strategies Have a Silver Lining<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">Regardless of how markets may look today, RBC Global Asset Management reminds us that financial plans are built with tough periods in mind.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-57939 -->\n\t\t\t\t\t<div class=\"load-more-button text-center mob-pad-t-hlf pad-t\">\n\t\t\t\t\t\t<button class=\"btn tertiary mar-t-0\">View More Articles<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t<\/div>\n\n\t\t<\/div>\n\n\n\n<div 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