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Business > Topic 2.5 External influences > Flashcards

Topic 2.5 External influences Flashcards

Mrs Hudson

1
Q

What is inflation?

A

Inflation is the general rise in prices in an economy over time

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2
Q

Problems caused by inflation

A
  • Increased costs (Bills and staff demand higher wages)
  • Less spending by consumers
  • Uncertainty (Spending by the business decreases eg. not expanding)
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3
Q

What is an exchange rate?

A

The exchange rate is the value of one currency expressed in terms of another

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4
Q

Appreciation of the pound

A
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Business (11 decks)

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