![]() |
Creado por taylorce11
hace más de 8 años
|
|
Pregunta | Respuesta |
Economic objectives | Economic goals |
Economic growth | The % change in income measured over time |
Full employment | Where all those seeking work are in employment |
Equality | Where incomes are distributed more equally |
Absolute poverty | Those with incomes lower than the level needed for necessities |
Relative poverty | Those on low incomes relative to the country's average |
Welfare state | Financial or practical help for those who need the most support |
Free-market economy | a system where all economic decisions are taken by private individuals and businesses |
Mixed economy | A system that is partly a free-market economy bus also has governemnt involvement in economic decisions |
Market failure | A failure of the market to allocate resources efficiently |
Merit goods | goods that are under-consumed bu society largely because the benefits of the good are not fully appreciated by society |
Private benefit | the benefit to private businesses or individuals |
Demerit goods | Goods that are over-consumed by society. Negative externalities are generated by the consumption of these goods |
Public goods | Goods that display the following characteristics: consumption of the doesn't prevent others consuming them; once they are provided people cannot be prevented from consuming them |
Externalities | The additions costs or benefits beyond private ones imposed on society that arise out of a production or consumption decision |
Private cost | The cost to private businesses or individuals |
Social cost | The cost to society of an action consisting of private costs and external costs |
Social benefit | The benefit the society consisting of private benefits and external benefits |
Taxation | Money collected by the government to finance its expenditure |
Indirect taxes | taxes on expenditure (e.g. VAT) |
Direct taxes | Taxes on incomes (e.g. Income tax) |
Corporation tax | Tax on the profits of limited companies |
Governtment expenditure | Money spent by the government on public services and welfare |
Fiscal policy | Decisions made by the government for government expenditure and taxation |
bank of england | the uks central bank and responsible for issuing and controlling the money in the economy |
monetary policy | the policy to control the supply or cost of money |
¿Quieres crear tus propias Fichas gratiscon GoConqr? Más información.