Economics unit 1

wsumme's version from 2017-04-04 09:26


Question Answer
What does APR stand for?Annual Percentage Rate
What does AER stand for?Annual Equivalent Rate
If the pound gets weaker what will that do to exports?They will increase?
What does SPICED stand for?Strong pound imports cheap exports dear
What does WPIDEC stand for?Weak pound imports dear exports cheap
How many stages are there in the personal lifecycle?5
What age does the second stage of the personal lifecycle begin?13
What is demand?Demand is the want or willingness of consumers to buy goods and services
What is supply?Supply is the willingness and the ability of producers to provide goods and services.
If AER increases is this good for borrowers or savers?Savers
Who does APR effect mostly?Borrowers