Economic Developments: Issues Thatcher wished to tackle

Question 1

What did Thatcher believe was the main issue in the British economy?

Answer 1

Inflation

Question 2

How did Thatcher try and solve Inflation?

Answer 2

She adopted Monetarism

Question 3

What was the concept of Monetarism?

Answer 3

Reducing government spending and raising interest rates

Question 4

What idea did Milton Friedman create which influenced Thatcher to reduce government interference in the economy?

Answer 4

The idea of economic freedom being more important than economic equality

Question 5

Name an entity present in businesses which Thatcher wanted to reduce the power of

Answer 5

Trade Unions

Question 6

What sort of -flation had Trade Unions caused for decades in Brtiain by the 1980s?

Answer 6

Stagflation