Glossary - PSHE Finance terms

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Analyse

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Research something carefully in order to form a judgement

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Bank of England

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The UK's central bank - it is responsible for keeping the economy healthy and the financial system safe

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Bank Rate

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The interest rate at which the Bank of England lends money to high street banks. It influences the interest that high street banks charge, or pay, their customers

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Benefits

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Payments made by the Government to those unable to work (e.g., who are sick, unable to find a job, or caring for someone full-time)

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Bias

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Showing something or someone in an unfairly positive or negative way

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Business

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An organisation that provides goods or services to the public or to other businesses with a view to making a profit on those activities

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Consequence

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The result of something

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Consumer

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Someone who buys goods or services. We are all consumers in some way or form

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Critical consumer

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Someone who thinks carefully about a decision to buy something

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Debt

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Money that is owed - and that is expected to be paid back - by an individual, business or country