2.3 Flashcards
1
Q
The economy
A
Made up of millions of individual consumers, many thousands of businesses and governments
2
Q
Economic climate
A
Describes the state of key factors within a country such as the level of goods and service
3
Q
Interest rates
A
Cost of borrowing money
4
Q
Overdraft
A
A flexible loan which businesses can use
5
Q
Consumer spending
A
The value of goods and services bought by a consumer over a period of time
6
Q
Incone elastic products
A
Those whose sales are sensitive to change in consumers income
