Chapter 27 - Economic Issues

Match

Match the following

• It refers to the physical limit on the quantity of a product that can be imported.

• A tax imposed on imported goods to raise revenue and protect domestic industries.

• Refers to any change by the government in tax rates or public sector spending.

• They are paid directly from incomes. For e.g. income or profits tax.

• It is the level of income a taxpayer has after paying income tax

Import Quota

Import Tariff

Fiscal Policy

Direct tax

Disposable Income

• Import Quota

• Import Tariff

• Fiscal Policy

• Direct tax

• Disposable Income

​We are studying this chapter because

Businesses do not operate alone — they are affected by big external factors like the economy, government rules, social trends, and technology. By understanding these factors, businesses can make informed decisions and plan better for the future.

Match

Match the following

• Gross Domestic Product

• Inflation Rate

• Unemployment Rate

• Balance of Trade

• Recession

The total value of output of goods and s

The rate at which the general level of prices for goods and services is rising

The percentage of the labor force that is jobless and actively seeking employment

The difference between a country's exports and imports

Where the period of GDP is falling.

• The total value of output of goods and s

• The rate at which the general level of prices for goods and services is rising

• The percentage of the labor force that is jobless and actively seeking employment

• The difference between a country's exports and imports

• Where the period of GDP is falling.

Multiple Choice

To know if the country is doing well, we will look at the factors except

• Gross Domestic Product

• Economic Growth

• Recession

• Employment rate

Poll

For Singapore, we are in the _______________________ stage.

• Boom

• Recession

• Growth

• Slump

Open Ended

Name 1 thing I have learned from this lesson about economic influences.

Word Cloud

Name 2 business objectives!

Match

Match the following

• Gross Domestic Product

• Balance of Payment

• Inflation Rate

• Unemployment Rate

• Economic Growth

A measure of the economic performance of a country

When export is more than import

The percentage increase in prices over time

The percentage of the labor force that is unemployed

When the country GDP is high.

• A measure of the economic performance of a country

• When export is more than import

• The percentage increase in prices over time

• The percentage of the labor force that is unemployed

• When the country GDP is high.

Open Ended

I used to think....... now I think......

Open Ended

Let us practise!

1. There is an increase in corporate tax rates for the country. What is 1 implication for business?

Open Ended

Let us practise!

2. What are two ways to reduce import?

Open Ended

Let us practise!

3. When import tariffs are reduced, explain one implications on my business.

Open Ended

Let us practise!

4. When value-added tax is increased, do you think businesses will be affected?

Multiple Choice

Fiscal policy includes the following except ____________.

• income tax

• corporate tax

• value-added tax

• interest rates

Multiple Choice

Monetary policy mainly focuses on ____________.

• income tax

• interest rates

• GST

• interest tax