Exchange rates Flashcards
1
Q
what’s more important in the exchange rate?
A
how it changes
2
Q
what does it mean when the pound has gone up in value?
A
it’s appreciated and is stronger
3
Q
what does SPICED stand for?
A
stronger pound makes imports cheaper our exports become dearer
4
Q
what does WPIDEC stand for
A
weaker pound makes imports dearer and exports cheaper
5
Q
define public sector
A
owned by government
6
Q
define private sector
A
owned by private business
