unit 7 - economic side

Question 1

inflation

Question 2

SPICED

Answer 2

strong
pound
imports
CHEAP
exports
DEAR

Question 3

WPIDEC

Answer 3

weak
pound
Imports
DEAR
exports
CHEAP

Question 4

monetary policy

Answer 4

the bank of England can use interest rates and money supply to influence spending and demand in the economy
- increase in money supply = increase in availability of credit

Question 5

fiscal policy

Answer 5

the government can use taxation and spending to influence the demand + growth of economy

Question 6

business cycle

Answer 6

expansion, peak, recession, depression, recovery, expansion etc