GDP Flashcards
1
Q
Define GDP
A
A measurement of the total goods and services produced within a country.
2
Q
What is the effect of a rise in GDP
A
People have more income after paying bills to spend on goods in hair and
beauty. This will increase business enabling the business to expand and
provide more jobs. Higher salary.
3
Q
What is the effect of a fall in GDP
A
Less disposable income to spend on hair and beauty treatments as higher
bill. This will affect the business due to loss of profit which will mean less
jobs, lower wage and business may close.
