Business (Y13) - Economic Growth (GDP)
0.0(0)
Studied by 0 people
Learn
Practice Test
Spaced Repetition
Match
FlashcardsCard Sorting
1/7
There's no tags or description
Looks like no tags are added yet.
Study Analytics
Name | Mastery | Learn | Test | Matching | Spaced |
|---|
No study sessions yet.
8 Terms
1
New cards
What does GDP stand for?
Gross Domestic Product
2
New cards
What does GDP measure?
Measures value of economic activity
3
New cards
What are examples of economic activity?
Consumer activity, business investment, government spending
4
New cards
What does an increase in GDP show?
The economy is growing
5
New cards
What does a decrease in GDP show?
The economy is contracting
6
New cards
How can the rate of economic growth be shown?
The % change in GDP
7
New cards
What are the four parts of the business cycle?
Slump, recovery, boom, recession
8
New cards
How is the business cycle measured and how often is it measured?
It is measured by changes in GDP quarterly
Note 
Flashcards (72)