2.3 The Economic Climate Of Bussiness Flashcards
1
Q
Interest rates
A
refer to the cost of borrowing money or the reward for saving money, expressed as a percentage.
2
Q
Overdraft
A
An overdraft is a flexible loan which businesses can use, whenever necessary, up to an agreed limit.
3
Q
Consumer spending
A
Consumer spending refers to the value of goods and services bought by consumers over a time period, usually a month or a year.
4
Q
Income elastic products
A
Income elastic products are those whose sales are sensitive to changes in consumers' incomes.
5
Q
The economy
A
The economy is made up of millions of individual consumers, many thousands
of businesses and governments. All take decisions on what to buy and produce.
6
Q
Consumers
A
People that buy goods or service from bussiness
7
Q
Exonomic climate
A
The economic climate describes the state of key factors within a country such
as the level of goods and services produced and the number of jobs available.
8
Q
Overdraft
A
An overdraft is a flexible loan which businesses can use whenever necessary, up to an agreed limit.
9
Q
Consumper Spending
A
Consumer spending refers to the value of goods and services bought by consumers over a time period, usually a month or a year.
10
Q
Income Elastic Products
A
Income elastic products are those whose sales are sensitive to changes in consumers incomes.
