Economy Flashcards
1
Q
Economic growth
A
Measures the gdp of a country changes over a year
2
Q
GDP
A
Value of all goods/services produced within a country in a year
3
Q
GDP unshortened
A
Gross domestic product
4
Q
Growth
A
When the uk is making more goods and services
5
Q
Boom
A
When the uk is making lots more goods and services
6
Q
Slump
A
When the economy is slowing down alot
7
Q
Recession
A
When the amount of goods and services the UK makes goes into negative figures
8
Q
Causes of economic growth
A
- good roads = quicker transport
- good contacts = better trade
- better training = more efficiency
- Better technology
