LO 6

Question 1

What Occupational groups in the national economy will face an increase of demand for labour skills by 2020?

Answer 1

• Professional workers
• Associate professional workers
• Managers
• Caring Services
• Leisure
• Skilled trades

Question 2

What is the central banks role?

Answer 2

• Promote monetary and financial stability
• Issues bank notes and monetary stability by aiming to produce stable prices and low inflation within the national economy
• Protecting and enhancing the safety and soundness of individual firms; such as building societies, banks and major investments firms through the prudential regulation authority and the finance system through its financially policy committee.
• Lender as last resort at times of financial stress
• The regulation and oversight of key payment, settlement and clearing system’s.
• resolve failing financial institutions safely

Question 3

*FACT

Answer 3

Trends in changing occupational structure, which has seen an increasing divide in the skills structure between high-skill and low skill jobs, may mean those in less skilled occupations will have less opportunity to access high quality employment in the future.