Economics Money Revision

What is the personal life cycle?

What are needs and wants?

Why are there changes in income?

Key milestones in the personal life cycle: Leaving school

Key milestones in the personal life cycle: Gaining employment

Key milestones in the personal life cycle: Promotion

Key milestones in the personal life cycle: Unemployment

What is the definition of income?

What is the definition of borrowing?

What is the definition of savings?

What is the definition of debt?

What is the definition of unemployment?

How does the government affects stages of the personal life cycle?

What is the definition of benefits?

What is the definition of tax credit?

What is the definition of pensions?

What is the definition of taxes?

What is the definition of tax allowance?

What is scarcity and the basic economic problem?

What are costs and benefits?

How does demand change over the personal life cycle?

What is the definition of scarcity?

What is the definition of choice?

What is the definition of resources?

What is the definition of opportunity cost?

What is the definition of benefits?

What is the definition of costs?

What is the definition of demand?

What are the factors that affect spending?

What is the part played by businesses- 'supply'

What are markets and why do market prices change?

What is competition?

How do consumers benefit from competition?

Why do people save?

What are different methods of saving

What are the different types of accounts within each of the main savings institutions?

What is the definition of a bank/building society savings account?

What is the definition of post office card account?

What is the definition of an ISA?

What are interest rates?

What are savings accounts?

What is the annual equivalent rate (AER)?

What is risk and reward?

What are shares?

What are unit trusts?

What are Gilts (government securities)

Why do we borrow?

Methods of borrowing: Mortgage

Methods of borrowing: Credit card

Methods of borrowing: Store card

Methods of borrowing: Personal loan

Methods of borrowing: hire purchase

Methods of borrowing: overdraft

What are interest rates?

What is APR (Annual percentage rate)?

What is financial planning and budgeting?

What happens if you do not make effective financial plans?

What are ethical issues to do with saving?

What are ethical issues to do with borrowing?

What is the definition of financial planning?

What is the definition of budget?

What is the definition of financial adviser?

What is the definition of debt management?

What is definition of debt management plan?

What is the definition of an ethical lending policy?

What is the definition of ethics?

What is the ethical issues to do with borrowing?