Karteikarten
Flashcards for content: 2.5
Karten in diesem Stapel (31)
- 1Appreciation of currencyA rise in the value of a currency.
- 2Base rateThe rate of interest around which a bank structures other interest rates. If the Bank of England raises the base rate, all other borrowing and savings rates are likely to move in the same direction and vice versa.
- 3BoomThe peak of the economic cycle where GDP is growing at its fastest.
- 4Consumer price index (CPI)A common measure of price changes in the EU.
- 5DeflationA fall in the general price level. Also used to describe a situation where economic growth is falling or negative when inflation is falling.
- 6Depreciation (or currency)A fall in the value of a currency.
- 7DownturnA period in the economic cycle where GDP grows, but more slowly.
- 8Economic Cycle (Business / Trade Cycle)Regular fluctuations in the level of output of the economy.
- 9Exchange rateThe price of one currency in terms of another.
- 10Fiscal policyUsing changes in taxation and government expenditure to manage the economy.
- 11Government expenditureThe amount spent by the government in its provision of public services.
- 12Gross domestic product (GDP)A common measure of national income, output or employment.
- 13Index linkedThe linking of certain payments, such as benefits, to the rate of inflation.
- 14InflationA general rise in prices.
- 15Monetary policyUsing changes in the interest rate and money supply to manage the economy.
- 16Slump or depressionThe bottom of the economic cycle where GDP starts to fall with significant increases in unemployment.
- 17RecessionA less severe form of economic depression.
- 18Recover or upswingA period where economic growth begins to increase again after a recession.
- 19TaxationThe charges made by the government on the activities, earnings and income of businesses and individuals.
- 20Anti-competitive or restrictive practicesAttempts by firms to prevent or restrict competition e.g. by price fixing.
- 21Barriers to entryObstacles that make it difficult for new firms to enter a market.
- 22CollusionTwo (or more) businesses agreeing to a restrictive practice, such as price fixing.
- 23Contract of employmentA written agreement between an employer and an employee in which each has certain obligations.
- 24DiscriminationFavouring one person over another. For example, in the EU it is unlawful t discriminate on grounds of race, gender, age and disability.
- 25Employment tribunalA court that deals with cases involving disputes between employers and employees.
- 26National minimum wageA wage rate set by the government below which it is illegal to pay people at work.
- 27Unfair dismissalThe illegal dismissal of a worker by a business.
- 28CartelA group of businesses (or countries) which join together to agree on pricing and output in a market in an attempt to gain higher profits at the expense of customers.
- 29Colluding (same as collusion)In business, where several businesses (or countries) make agreements among themselves which benefit them at the expense of either rival businesses or customers.
- 30Market structuresThe characteristics of a market, such as the size of the barriers to entry to the market, the number of business in the market or whether they produce identical products which determine behaviour of businesses in the market.
- 31Homogeneous products/servicesProducts or services which are all essential the same e.g. cereal.
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- Karteikarten am Flashcards for content: 2.5, erstellt von J Brookes am 18/06/2017.
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