The economy and business (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What does economic climate describe?
What does economic climate describe?
Level of demand & spending in an economy
Why is GDP considered the most important economic indicator?
Why is GDP considered the most important economic indicator?
It captures total economic output
Which is NOT one of the four main sources of demand in an economy?
Which is NOT one of the four main sources of demand in an economy?
Charities
What typically happens to businesses when demand increases?
What typically happens to businesses when demand increases?
Sales improve & risk reduces
What effect do falling interest rates have on borrowing?
What effect do falling interest rates have on borrowing?
Borrowing becomes cheaper
How does a weak pound affect overseas demand for UK products?
How does a weak pound affect overseas demand for UK products?
Foreign customers find UK goods cheaper
What happens to demand when taxes increase?
What happens to demand when taxes increase?
Demand typically reduces
What typically happens to unemployment during high economic activity?
What typically happens to unemployment during high economic activity?
Unemployment falls
What generally happens to consumer incomes during low economic activity?
What generally happens to consumer incomes during low economic activity?
Consumer incomes fall
What may happen to inflation during high economic activity?
What may happen to inflation during high economic activity?
Inflation may increase
What may happen to interest rates during low economic activity?
What may happen to interest rates during low economic activity?
Interest rates may fall
Why might small businesses be more vulnerable during economic fluctuations?
Why might small businesses be more vulnerable during economic fluctuations?
Less resources & market diversification