3.5 & 3.6 - The Level of Interest Rates & Sustainability Indexes

Question 1

What is interest rate?

Answer 1

Interest rate is the amount a lender charges a borrower for borrowing money, usually as an annual percentage of the loan (borrowed money). This can either be debt (when a person borrows from a bank) or via savings (when a person puts their money in their savings account for the bank to use).

Question 2

What is debt?

Answer 2

Debt is when a person borrows money from a bank. Because of this, said bank charges an interest rate to the borrower. The lower the interest rate, the better, as it is less expensive to borrow money, this way.

Question 3

How is interest rate related to savings?

Answer 3

When somebody saves money into their savings account, the bank uses the money inside that account to lend to borrowers. In return the bank will pay the lender interest. The higher the interest rate, the more benefits there will be for the lender.

Question 4

What are three non-economic factors that are taken into account when assessing economic performance of an economy (QER)?

Answer 4

These three factors are:
- Quality of Life, including Social Factors (eg. crime rates, available health and education services)
- Environmental Factors (eg. quality of air & water, global warming)
- The level of resource depletion that occurs when trying to achieve economic growth
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Question 5

How many sustainable development goals are there?

Answer 5

There are 17 sustainable development goals.

Question 6

What are the first 4 sustainable development goals (NNGQ)?

Answer 6

The first 4 sustainable development goals are:
1. No poverty
2. No hunger
3. Good health and wellbeing
4. Quality education

Question 7

What are the next 4 sustainable development goals after no. 4 - Quality education (GCAD)?

Answer 7

The next 4 sustainable development goals after no. 4 - Quality education are:
5. Gender equality
6. Clean water and sanitation
7. Affordable and clean energy
8. Decent work and economic growth

Question 8

What are the next 4 sustainable development goals after no. 8 - Decent work and economic growth (IRSR)?

Answer 8

The next 4 sustainable development goals after no. 8 - Decent work and economic growth are:
9. Industry, innovation and infrastructure
10. Reduced inequalities
11. Sustainable cities and communities
12. Responsible consumption and production

Question 9

What are the last 5 sustainable development goals after no. 12 - Responsible consumption and production (CLLPP)?

Answer 9

The last 5 sustainable development goals after no. 12 - Responsible consumption and production are:
13. Climate action
14. Life below water
15. Life on land
16. Peace, justice and strong institutions
17. Partnerships for the goals