Unit 7 economy

How rich a country is will determine its _________ (how much money it can spend)

• bank

• budget

• finances

• economy

When the value of money starts to fall against the rise in prices of goods, this is called _______

• weak currency

• recession

• inflation

• interest rate

Increasing ........ rates are a way of controlling spending

What is the best definition of a 'credit crunch'?

• A situation where loans are limited and banks and consumers have difficulty to access money.

• A situation where people can't get enough credit

• A situation where banks have to limit the credit they give to people

• None of the above

If a government has a 'budget deficit', what does this mean?

• That it has created too many budgets

• That it has spent less than it has earned

• That it needs to set a budget

• That it has spent more than it has earned

What word refers to negative inflation rates?

• Negative inflation

• Deflation

• Minus inflation

• Disinflation

What does 'capital' refer to?

• The main city of a country

• Material wealth owned by an individual or business enterprise

• The main provider of a household

• A large income

When business earn more money than they spend, they make a ________

• income

• benefit

• profit

• revenue

The first section of the test is

• SWOT

• PESTLE

• Market analysis

• Financial analysis

which was not a key strategy of gymshark

• Influencer marketing

• Online selling via website

• Opening a retail chain

• Good online presence