The macroeconomy & The property sector

Question 1

microeconomics

Answer 1

studies individual economic units (households & firms)

Question 2

macroeconomics

Answer 2

examines economy as a whole, focusing on broad factors affecting total output, income & expenditure

Question 3

macroeconomic indicators

Answer 3

GDP, unemployment, inflation, interest rates, and a balance of trade

Question 4

economic growth & GDP

Answer 4

Represents the monetary value of all finished goods and services in an economy

Question 5

components of GDP

Answer 5

contributions from households (consumption), businesses (investment), government spending & net exports

Question 6

GDP and property sector

Answer 6

growing GDP can lead to increased construction activity, rising property demand, greater investor confidence

Question 7

property sectors contribution to GDP

Answer 7

new construction, supplying building materials, transactions, dwelling services

Question 8

central bank role

Answer 8

monitor inflation and unemployment rates to make decisions on interest rates