GCSE BUSINESS OCR UNIT 6 REVISION

Front

What defines economic climate?

Back

How well a country is doing in terms of income and employment

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What is income?

Back

The amount of money someone receives from work and assets

Front

Consumer income is...

Back

The total amount of money a country's consumers have to spend

Front

True or false: level of employment is the number of people employed in a country.

Back

True

Front

What is GDP (Gross Domestic Product)?

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A measure of how much a country produces in a year

Front

What is level of income?

Back

The average income of people in a country

Front

Which is true? Economic growth occurs when...

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GDP rises and employment rises

Front

Which is NOT an example of something that happens in a recession? Employment falls, GDP falls, Employment increases, Level of income falls

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Employment increases

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Distribution of income can also be known as...

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The gap between the rich and poor

Front

The international economic climate is what is happening with income and employment around the world

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True