Economic Influences

Question 1

Domestic Economy

Answer 1

The inflow and outflow of money around a country

Question 2

Injections into an economy

Answer 2

Exports
Government spendings
Investment

Question 3

Withdrawals from an economy

Answer 3

Imports
Taxes
Savings

Question 4

Global Economy

Answer 4

The flow of money around the world

Question 5

Economic Growth

Answer 5

An increase in the level of economic activity or real GDP

Question 6

GDP

Answer 6

Also known as Growth Domestic Product, is the total value of a country’s output over he course of a year

Question 7

Business Cycle

Answer 7

The stages of business activity in an economy overtime

Question 8

Factors that impact the business cycle

Answer 8

Unemployment 
Inflation
Incomes
Demand
Interest Rates

Question 9

Unemployment

Answer 9

The % of population that is not in work

Question 10

Inflation

Answer 10

The general rise in the price of goods and services

Question 11

Incomes

Answer 11

Money entering a household from jobs

Question 12

Demand

Answer 12

Quantity required by consumers

Question 13

Interest Rates

Answer 13

% in return for savings and % paid on borrowing. Bank of England sets the interest Rates

Question 14

Exchange Rates

Answer 14

When one currency is compared to another