IGCSE Economics Glossary Terms - B

A loan provided in order to prevent payment default

• Bailout loan

• Mortgage

• Personal loan

• Public loan

A record of the flows of money into and out of a country

• Balance of accounts

• Balance of payments

• Balance of options

• Balance of records

Revenue = Spending

• Balanced revenue

• Balanced spending

• Balanced budget

• Balanced money

Ways in which new firms are prevented from entering a particular industry

• Barriers to exit

• Preventionism

• Protectionism

• Barriers to entry

Restrictions imposed by a government that prevent the free trade of exports and imports between countries

• Barriers to trade

• Barriers to entry

• Barriers to import

• Barriers to export

The act of trading goods or services between two or more parties without the use of money

The interest rate that a central bank will charge to lend money to commercial banks and on which other financial organisations base their interest rates

• Base rate

• Bank rate

• Central rate

• Commercial rate

A year which is allocated a value of 100 index points against which other years are compared

• First year

• Base year

• Hundred year

• Index year

What is needed for survival, such as food, shelter, water and clothing

• Basic pay

• Basic options

• Basic goods

• Basic needs

The amount of money received before additional payments are added or any deductions, such as income tax are made

• Basic pay

• Basic money

• Basic rate

• Basic needs