Studied by 3 people
growth
GDP rises
customer and businesses have optimistic time
increased disposable income
unemployment reduces
boom
GDP rises rapidly
recession
GDP starts to decline
unemployment increases
people stop spending a lot of money
slump
GDP falls quickly
unemployment is at an all time high
prices of things have gone significantly up
less disposable incomes
govt. objectives
to keep unemployment low
to keep inflation low
fall in living standards
fall in purchasing power
fall in sales and profit
healthy balance of payments
economic growth
fiscal policy
collecting taxes and using it to increase demand of goods and services
monetary policy
A government plan that uses changes in exchange rates, interest rates and the money supply to stimulate demand for goods and services in the economy.
corporation tax
government collects taxes from companies when they make a profit
businesses and the envm.
pollution
congestion
plastic waste
nuclear waste
use of natural resources
global warming
desertification
deforestation
how can businesses be sustainable
pay fair wages to employees
renewable energy
locate near transport routes
electric vehicles for transport
avoid deforestation
recycle waste
envm. issues and pressures
pressure groups
legal controls
social media
how can govt. to help control pollution
additional taxes
impose fines
incentives for following the laws
how to respond to envm. issues
start using renewable energy
making a pledge/statement that they will not use unsustainable things
changing packaging
why businesses might respond to legal issues
public image
opp. to be sustainable
response to legal actions
attract customers
ethical issues
child labour
unfair bonuses to the owners
discrimination
social media
abuse of technology
how to respond to ethical issues
make public apology
do nothing
benefits and limitiations of globalisation
+ increased choice
+ economic development/growth
+ economies of scale
+ specialisation
- diseconomies of scale
- brain drain
- cultural differences
benefits and limitations of multinationals
+ increased profit
+ increased choice
+ jobs
+ govt. recieves a lot of tax revenue
- local businesses don’t get a lot of revenue
- unsustainability
- power
