Economics Money Revision

Question	Answer
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?	.

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	Created by venkatanarayanan almost 9 years ago