Key Business and Economic Terms

Flashcards covering essential business and economic terms to know cold for revision.

Demographics

Statistics about a population, such as age and location

Disposable income

Money left after tax and essentials

Inflation

A general rise in prices over time

Interest rate

The cost of borrowing and the reward for saving

Exchange rate

The value of one currency against another

Economic cycle

The pattern of growth, boom, decline and recession

Carbon footprint

The greenhouse gases caused by a business's activity

Legislation

Laws passed by government that businesses must follow

Living wage

Pay based on the cost of living, usually above the legal minimum

CSR

Acting responsibly towards society and the environment, not just for profit