Flashcards
Unit 3.5: The Wider World
Cards in this deck (7)
- 1EconomistSome who studies economics and writes about economic policy.
- 2ScarcityWe have a limited availability of resources so cannot satisfy all of our needs and wants.
- 3QuotaAn import quota limits the number of imports from the foreign countries to protect home producers.
- 4SubsidyPaid by the government to home producers to help keep prices competitive compared to foreign imports.
- 5Interest RatesThe charge for borrowing money and the reward for saving.
- 6DiscriminationWhen one person/group of people is treated unfairly.
- 7Risk AssessmentA process of identifying potential risks and the steps that will be taken to minimize them.
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- GCSE Business Studies (Unit 3) Flashcards on Unit 3.5: The Wider World, created by nk_ on 20/10/2013.
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