Economic climate Flashcards
1
Q
What is economic climate
A
state of the level of goods and services produced and the number of jobs avaliable
2
Q
Interest rates
A
cost of borrowing money or reward of saving money
3
Q
Consumer spending
A
total money spent on goods and services by individuals
4
Q
level of employment
A
government aiming for high employment in economy so there are less people reliant on government benefits
5
Q
What happens if interest rates rise
A
consumers may decide to save more
6
Q
What happens if interest rates drop
A
more consumer spending
more profit for the business
