Topic 1.5 - Understanding the economic context Flashcards
1
Q
Commodity markets
A
Where buyers and sellers meet to exchange commodities
2
Q
Interest rates
A
The cost of burrowing and the reward for saving
3
Q
The economy
A
The economic activity carried out by people and businesses in a country
4
Q
Business Cycle
A
Fluctuations in the level of economic activity over a period of time
5
Q
Recession
A
A situation when the level of economic activity is negative for two successive quarters
6
Q
Stakeholder
A
An individual or a group with has an interest in and is affected by the activities of a business; have an interest in how the business operates and whether or not it is successful
