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This lesson we will be learning about 1.5 – Economic Activity KEY TERMS

This lesson we will be learning about 1.5 – Economic Activity KEY TERMS. Prepare to present to the class. 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 – Economic Activity KEY TERMS

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  1. This lesson we will be learning about1.5 – Economic Activity KEY TERMS Prepare to present to the class

  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 Investigate Economic Influences

  3. Topic Areas in 1.5 1.5 Understanding the economic context • -market demand and supply • -impact of change of interest rates • -impact of changes in exchange rates • -business cycles • -effects on stakeholders

  4. Title • Definition • What is the current rate of inflation? • http://www.bankofengland.co.uk • How does inflation affect disposable income?

  5. Unemployment • Definition • Unemployment figures http://www.statistics.gov.uk/cci/nugget.asp?id=12 • If unemployment increases – How does this effect spending in the economy? • Will this effect employment within the cycle?

  6. Exchange Rates Definition Using the currency converter convert £1 into euros and dollars http://www.x-rates.com/calculator.html

  7. Interest Rates Definition What is the current base rate? http://www.bankofengland.co.uk/ How does low interest rates effect borrowing? And how does it effect savers? How much does it cost to borrow money from a bank? – quote some figures

  8. Unpredictable Influences e.g. 9/11, 7/11 or extreme weather!! What impact has this had upon the economy? Use quotes from articles in the news to support your understanding! – SOURCE ALL LINKS

  9. I need a house and there isn’t any available within my area!! Supply and Demand • Definition • What examples can you find to demonstrate high demand and short supply e.g. New releases – How does this effect pricing? • Perhaps even high supply and low demand! • How does this effect? I want one of those... I need it! Everyone has one!

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