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This lesson we will be learning about 1.5 – Business Cycle

This lesson we will be learning about 1.5 – Business Cycle. What is a business cycle? Confident?. NO IDEA I NEED HELP NEVER HEARD OF IT. OK I CAN DO THIS WITH SUPPORT SOME GUIDANCE NEEDED NEARLY AT MY TARGET. GOT IT! VERY CONFIDENT WILL HIT MY TARGET GRADE. EXCEED TARGET.

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This lesson we will be learning about 1.5 – Business Cycle

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  1. This lesson we will be learning about1.5 – Business Cycle What is a business cycle? Confident?

  2. NO IDEA I NEED HELP NEVER HEARD OF IT OK I CAN DO THIS WITH SUPPORT SOME GUIDANCE NEEDED NEARLY AT MY TARGET GOT IT! VERY CONFIDENTWILL HIT MY TARGET GRADE EXCEED TARGET LEARNING OBJECTIVES Explore economic activity, the economy and economic growth (Business Cycle)

  3. Key Terms – Glue in & Discuss

  4. Anagram • Can you figure out what it should say? Comic One Vita City

  5. Anagram • Can you figure out what it should say? Economic Activity

  6. Impact of the business cycle • Economic Activity – The amount of buying and selling that takes place in a period of time. • The Economy – The economic activity carried out by people and businesses in a country. • Economic growth – rises in the rate of economic activity in an economy. It is measured by calculating the value of sales in an economy over a period of time.

  7. Discussion What things can you think of that might affect our ‘economic activity’ ? Spider-gram in books

  8. Ideas • Inflation • Exchange Rates • Interest Rates • Unemployment • External factors e.g. natural disaster/terrorism etc

  9. What is this image demonstrating? How much is a loaf these days?

  10. Inflation • Measured by change in retail prices • Imagine Gordon Brown with a shopping trolley around Tesco every week – he monitors how much he spent last month compared to this: September 05 October 05 Nov 05 £110.00 £115.00 £120.00 Increase over 3 months = £10 (10% inflation) So... • Increased prices =........................................................ Make some notes

  11. Impacts of inflation • Increase in prices= less to spend on luxuries • Less spending = less profit • Less Profit = less tax to Government • Less Tax = Less Public Spending (hospitals, education etc.) • Less PS = Lower standard of living • Lower SOL = Less competitive country

  12. Exercise – Silent work a)Unemployment Less people employed = .............................. b) Exchange Rates Fall in value of pound =..................................... c) Interest Rates Low interest rate= .......................................... d) Competition Increase in competition = ....................................

  13. READ P128 - 130

  14. Over to you P131 Read Q2 and 3 ALL Q4 - SOME

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