Business

Land, labour, Capital, Enterprise are referred to as

• The Factories of Production

• The Factoring of Production

• The Factors of Production

• The Production Factors

Opportunity Cost is

• The item we bought

• The item we had to do without

• The items that gave opportunity

• The Cost of goods

This stage in the personal financial lifecycle is when we buy / rent our own home

• Dependency Stage

• Growth Stage

• Independence Stage

• All Stages

This is a Tax on the interest earned on money on deposit in a bank (savings)

• Capital Gains Tax; CGT

• Value Added Tax; VAT

• Deposit Interest Retention Tax; DIRT

• Pay As You Earn; PAYE

This form of Taxation means that everyone pays the same percentage of tax no matter what their income is

• Progressive Tax

• Regressive Tax

• Consumption Tax

• Tax Credit

In Insurance this is added to your Premium owing to an increased element of Risk

• Premium

• Indemnity

• Loading

• Policy Excess

In this type of Economic System the government makes all the decisions:

• Mixed Economy

• Centrally Planned Economy

• Free Enterprise Economy

• Centrally Free Planned Economy

In economics the law of diminishing marginal utility states that:

• As each unit of a product is consumed, the satisfaction gained from each extra unit decreases

• As each unit of a product is consumed, the satisfaction gained from each extra unit increases

• As each unit of a product is consumed, the satisfaction gained from each extra unit remains constant

• As each unit of a product is consumed, the satisfaction gained from each extra unit decreases and increases

For a government, an example of Current Expenditure is

• A new school

• A new hospital

• Nurses Pay

• Tax

This type of budget means that the government are spending more than they are receiving

• Budget Deficit

• Budget Surplus

• Balance Budget

• Government Budget