Business Week - Y11

How is GDP per capita different to GDP?

• They aren’t different

• GDP per capita takes into account our foreign trade deficit

• GDP per capita takes into account the population of the country

• GDP per capita takes the amount of cars into account

What are ways of measuring standard of living?

• GDP

• OECD Better Life Index

• Human development Index

• All of the above

How can we measure economic growth?

• The difference between the rate of inflation and unemployment

• The difference between GDP in one year compared to the next

• By asking the people about their standard of living

• By seeing if the unemployment rate has gone down

Which members of society does inflation impact the most? (More than one answer)

• Pensioners

• Fixed-income wage earners

• People with money saved only in the bank

• Wealthy property owners

Yesterday, the price of bread was $2.30 a loaf, now it's $23!" - What kind of inflation is being described here?

• Hyper inflation

• Super inflation

• Mega inflation

• Demand pull inflation

"I decided to swap jobs because I found one closer to home" - What kind of unemployment is this?

• Frictional unemployment

• Structural unemployment

• Cyclical unemployment

• Voluntary unemployment

"I used to work in a car factory, but now we just import them from overseas, so I've lost my job." - What kind of unemployment is this?

• Cyclical unemployment

• Seasonal unemployment

• Structural unemployment

• Technological unemployment

Changes in the quantity demanded may be brought by

• The costs of production

• The price of related commodities

• The effects of nature

• Future expectations of suppliers

Which of these are disadvantages of franchising?

• You lose the ability to keep brand quality

• Different franchise owners may have different views & standards

• Highly likely to experience diseconomies of scale

• It’s cheap to expand

Which of the following is NOT a source of internal finance?

• Retained profit

• Issue of shares

• Sale of existing assets

• All are sources of internal finance