A level business edexcel economic influences

Front

If the UK Pound increases in value compared to other currencies, it has

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appreciated

Front

A UK exporter would benefit from: a stronger pound £ or a weaker pound £?

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a weaker pound £

Front

The Consumer Prices Index (CPI) measures the rate of :

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inflation

Front

If Inflation rises by 5% and average incomes (wages) rise by 3% then:

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the real rate of inflation = 2%

Front

The Business Cycle describes :

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up and downs of economic growth

Front

The Business Cycle measures: GDP, CPI, OCG, GPD

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GDP

Front

GDP =

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Gross Domestic Product

Front

The Recovery (upturn) phase =

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Front

The Boom phase =

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Front

A business can pass-on the extra cost of inflation, by raising prices if: demand is price inelastic

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demand is price inelastic