psychology and the economy

Question 1

define economy

Answer 1

the state of a country or region in terms of the production and consumption of goods and services

Question 2

what do we need to consider in psychology to do with the economy ?

Answer 2

how does what we learn from the findings of psychological research :
influence , affect , benefit or devalue our economic prosperity

Question 3

draw a flowchart of what having a positive effect on the economy do ?

Answer 3

increases people’s ability to work –> less sick pay –> reduces strain on NHS ( leads to + impact on the economy)
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increases the amount of disposable income
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more household income means more taxes paid
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positive impact on the economy

Question 4

draw a flowchart of what having a negative effect on the economy do ?

Answer 4

decreases someone’s ability to work –> more benefits required–> increases strain on government (negative impact on economy )
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decreases the household’s disposable income
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less household income means less taxes paid
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negative impact on the economy

Question 5

what is an example of research discussed within psychology ?

Answer 5

the development of treatments for mental health

Question 6

what happens as a result of absence of work ?

Answer 6

costs the economy an estimated £15 billion a year

Question 7

how much of the absence are as result of mental health disorders ?

Answer 7

1/3 (telegraph 2014)

Question 8

what is considered as an important in terms of research ?

Answer 8

psychological research into the cause and treatments of mental illness
–> has an important role to play in supporting a healthy workforce

Question 9

what is the flowchart of how this is managed ?

Answer 9

diagnosis –> treatment –> manage symptoms –> return to work
( as a result no extended sick pay/benefits needed )