Unemployment and inflation (Edexcel GCSE Business): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
ShowHide
Practise the questions
12 questions from this quiz
What is unemployment?
What is unemployment?
When people seeking work can't find jobs
What are the two main ways to measure unemployment?
What are the two main ways to measure unemployment?
Surveys and benefit registrations
How does high unemployment affect recruitment for businesses?
How does high unemployment affect recruitment for businesses?
Makes it easier to attract applicants
What is a disadvantage of recruiting when unemployment is high?
What is a disadvantage of recruiting when unemployment is high?
Applicants may lack current skills
How does high unemployment affect consumer demand?
How does high unemployment affect consumer demand?
Reduces demand for products/services
What happens to sales revenue as unemployment rises?
What happens to sales revenue as unemployment rises?
Sales revenue falls
What is inflation?
What is inflation?
The rate at which prices are rising
How is inflation measured?
How is inflation measured?
Using the Consumer Price Index (CPI)
What does the Consumer Price Index track?
What does the Consumer Price Index track?
Food, housing, clothing & consumer goods
What is the 'double squeeze' effect of inflation on businesses?
What is the 'double squeeze' effect of inflation on businesses?
Rising costs and reduced demand
How does inflation affect consumers' purchasing power?
How does inflation affect consumers' purchasing power?
Decreases what they can buy
Can businesses control unemployment and inflation?
Can businesses control unemployment and inflation?
No, they are external influences