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WorksheetsBusiness & the Economy
Total questions: 11
Worksheet time: 6mins
A labour force of 20 million people has 18.5 million people employed. Find the unemployment rate.
10%
8.5%
6%
7.5%
What is the unemployment?
Decisions to work based on each individuals' valuation of their own work
Proportion of younger workers in the labour force
The situation of actively looking for employment but not being currently employed.
A person who is simultaneously an income earner,
If a change in income appears permanent such as being promoted to a secure and high paying job, __________________.
Then people are likely to spend more.
Then people are likely to spend less.
Then people are likely to save more.
Then people are likely to save less.
Which of following best describes the term interest rate?
The cost of borrowing money or reward for saving money
The price of one currency against another
The reward for borrowing money or cost of saving money
The value of goods and services bought by consumers
Which is true in relation to the rate of inflation? Business costs are:
More likely to stay the same if the rate of inflation rises
More likely to decrease if the rate of inflation rises
More likely to increase if the rate of inflation rises
More likely to increase if the rate of inflation falls
Which of the following businesses is most likely to experience a rise in demand as consumer income falls?
A producer of chocolate
A specialist bakery selling luxury products
Travel agent
A department store selling discounted goods
What is the most likely impact of rising unemployment levels on a business selling luxury goods?
Falling sales and falling profit
Falling sales and rising profit
Rising sales and falling profit
Rising sales and rising profit
What is true of a UK importer of goods from Italy, if the value of the pound becomes weaker against the euro?
Sales increase and profit increases
Sales decrease and profit increases
Sales increase and profit decreases
Sales decrease and profit decreases
A business has borrowed money from a bank with an overdraft. If interest rates rise, the impact on the business will be:
Costs increase and profit decreases
Costs decrease and profit increase
Costs decrease and profits decrease
Costs increase and profit increase
If the government increases the rate of corporation tax, companies are likely to:
Pay less tax and invest less into the business
Pay more tax and invest less into the business
Pay more tax and invest more into the business
Pay less tax and invest more into the business
Which describes the term exchange rate?
The price of one currency against another
The reward for saving money and cost of borrowing money
The profit made from exporting goods and services
The sales made from importing goods and services
