Edexcel A-level business theme 4 key terms

BRICS

Economies are considered to be; Brazil, Russia, India, China and South Africa

Economic growth

An increase in GDP0 value of output of goods and service produced in an economy over time

Economy

An area/country where goods and services are produced, sold and bought

Emerging economy

The economies of developing countries where there is rapid growth but also a significant risk

Employment patterns

A key indicator of growth looking at unemployment rates, trends, labour costs, and productivity as well as education qualification and potential employees

GDP

Gross domestic product. Measures the output of goods and services in an economy over a period time

HDI

Is a composite index focusing on three basic measures of human development: life expectancy at birth, means years of schooling and expected years of schooling and standard of living, measured by gross national income per capita

Health

A key indicator of the level of development and may include, lige expectancy at brith, mortality, pollution exposure and clean access to water

Literacy

A key indicator of growth. The literacy rate looks at the percentage of adults that can read and write

MINTS

Economies ate considered to be Mexico, Indonesia, Nigeria and Turkey