Lesson 2-Measuring Economic performance

Question 1

How could you measure how well households are doing economically?

Answer 1

.Disposable income
.Employment levels
.Bill prices
.Cost of living

Question 2

How could you measure how well firms are doing economically?

Answer 2

.GDP
.Profit
.Growth+expansion
.VAT/Corportation tax
.Number of firms

Question 3

How could you measure how well governments are doing economically?

Answer 3

.GDP
.Borrowing figures
.Inflation
.Cost of Living
.Budget

Question 4

How could you measure how well the International sector is doing?

Answer 4

.Currency strength
.Aid Requirements

Question 5

Give 4 key objectives of UK economic performance

Answer 5

.Price Stability
.Growth of real GDP
.Falling unemployment/rising employment
.Higher average living standards
.Stable balance of trade
.Fair distribution of income and wealth
.Balancing the budget
.Improving economic well being
Better regional balance in the UK economy
.Improved access to public services
.Improved competitiveness
.Environmental sustainability