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28 Economy

Authored by Stuart Burgess

Business

10th - 11th Grade

Used 85+ times

28 Economy
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21 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If The Bank of England were to cut interest rates, what would be the most likely change in the economy?

There would be lower levels of consumer spending and inflation would fall.

The cost of borrowing falls and this encourages more consumer spending.

The cost of borrowing rises and this encourages less consumer spending.

Consumers would be more likely to put their money in the bank to earn interest.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the correct definition of consumer spending?

The total spent by all shoppers throughout the country.

Goods produced in one country but sold overseas, for example, a British-made Mini sold in France.

A downturn in sales and output throughout the economy, often leading to rising unemployment.

Money created.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the correct definition of a recession?

The total spent by all shoppers throughout the country.

Goods produced in one country but sold overseas, for example, a British-made Mini sold in France.

Two consecutive falls in Gross Domestic Product (GDP).

The Bank of England deciding to print more money.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the correct definition of Exports?

The total spent by all shoppers throughout the country.

Goods produced in one country but sold overseas, for example, a British-made Mini sold in France.

A downturn in sales and output throughout the economy, often leading to rising unemployment.

Goods produced in one country but sold domestically to the cunties own consumers.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is most likely cause of an increase in sales for businesses nationally?

An increase in inflation

Higher average incomes

A fall in consumer confidence

An increase in income tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is most likely to cause a fall in sales figures nantionally?

Lower raw material costs

Higher average incomes

A fall in inflation

A fall in consumer confidence

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a tax on company profits?

Income tax
Corporation tax
VAT
Money created

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