Economic Issues - G10_Business Studies

The four stages an economy through over a period of time, as an economy does not grow at a steady rate.

• Inflation

• Business Cycle

• Exchange rate

• Economic growth

Increase in the average price level of goods and services over time.

• Business Cycle

• Inflation

• Unemployment

• Real Income

The total value of output of goods and services in a country in one year.

• Economic Growth

• Balance of payment

• Gross Domestic Product

• Real Income

This exist when people are willing and able to work cannot find a job.

• Unemployment

• Employee

• Work force

• Trade union

A country's GDP increase, example more goods and services are produced than last year.

• Recession

• Rebound

• Growth

• Slump

Goods ans services sold from one country to another countries.

• Exports

• Imports

• Tariff

• Quota

A change in interest rates by the government or central bank, e.g Indonesian Central Bank

• Export policy

• Trade policy

• Fiscal policy

• Monetary policy

Paid directly from incomes e.g. income tax or profit tax.

• Indirect taxes

• Direct taxes

• Import tariff

• Export quota

Any change by the government in tax rates or public sector spending.

• Monetary policy

• Fiscal policy

• Direct taxes

• Indirect taxes

This records the difference between a country's exports and imports.

• Real income

• Disposable income

• Balance of payment

• Exchange rate depreciation