Economic Variables (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is an economic variable?
What is an economic variable?
A measurable factor showing econ. perform.
What does inflation cause to happen to purchasing power?
What does inflation cause to happen to purchasing power?
It causes purchasing power to fall
How does high inflation impact business costs?
How does high inflation impact business costs?
Higher input costs as raw materials & wages rise
What are interest rates?
What are interest rates?
The cost of borrowing money
How do higher interest rates affect consumer spending on big-ticket items?
How do higher interest rates affect consumer spending on big-ticket items?
Reduce spending as borrowing costs increase
How do high employment levels impact business sales?
How do high employment levels impact business sales?
Increase sales as more have disposable income
What factors influence exchange rates?
What factors influence exchange rates?
Interest rates, inflation, econ. stability
How does a strong domestic currency affect exports?
How does a strong domestic currency affect exports?
Makes exports more expensive
Which types of tax are mentioned as examples of taxation?
Which types of tax are mentioned as examples of taxation?
Income tax, corporate tax, VAT
How do higher taxes impact consumer disposable income and sales?
How do higher taxes impact consumer disposable income and sales?
Reduce disposable income, leading to lower sales