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WorksheetsUnit 1 Business Management - Economic Conditions
Total questions: 11
Worksheet time: 6mins
Influences that relate to the economic activity in a country, region or the world refer to
Economic components
Economic countries
Economic conditions
Economic counterpart
How many phases are there in the business cycle
5
4
6
3
Expansion is what stage in the business cycle
4
3
3
1
If wages and salaries are high and business is operating at full capacity then you are at what stage of the business cycle?
Expansion
Contraction
Peak
Trough
The price charged or paid for the use of money is called...
the exchange rate
the lending rate
the interest rate
the tax rate
The percentage of income or the value of a good or service is called
GST
the interest rate
the tax rate
mark up
In a recessionary cycle there is
evidence of an expanding economy
businesses will increase production
increased spending will create profits
a degree of cost cutting
When the Economy is in a recessionary cycle what is not true
evidence of an expanding economy
evidence of a contracting economy
cost cutting
consumers are more cautious
What is happening in the Peak stage of the business cycle?
wages and salaries high
increased consumer spending
unemployment falling
decreasing business investment
What is happening in the trough stage of the business cycle
business operating at full cycle
sales and profits rising
sales and profits falling
sales and profits at lowest levels
What is not happening in the trough stage
business operating at below capacity
sales and profits at lowest level
consumer spending at lowest levels
low levels of unemployment
