Pages in this set

Page 1

Preview of page 1
Economics

A number of factors will cause the demand curve to shift, either to the right (increase in demand)
or left (decrease in demand):

Income when income rises demand for a normal good will also rise.

The price of other goods if the price of a substitute good falls then…

Page 2

Preview of page 2
Ways in which consumers benefit from competition;
Greater variety
Lower prices
Better quality

Disadvantages of competition:

Quality can be lowered as businesses try to cut down costs
Effects smaller businesses
After sales, services can suffer if too many resources have been put into the sale.



What is it? ADVANTAGES DISADVANTAGES…

Page 3

Preview of page 3
account has ne
been opened. ye
Hard to access
money
Withdrawing
money cuts
down on your
interest or
they'll fine you
Regular savings Aimed for those who High level of Amount you pay Fo
want to put relatively interest in is capped w
small sums of cash (£200-£300) ha
aside…

Page 4

Preview of page 4
Bad-value savings deal



Stocks, shares and investments

Stocks represent the amount of capital invested into a company
When you buy a share/ stock in a company, then you buy part ownership as well.




Advantages:

1. Gain from profits made
2. If the value of the share increases and then you…

Page 5

Preview of page 5
Desires
University of education'
Investment

Types of loans:

Mortgage ­ secured on the property (belongs to the bank) until the loan is fully paid.
Low interest rates and over a repayment period
Credit card- by services and products repeatedly or to borrow money up to a
pre-arranged limit. High interest…

Page 6

Preview of page 6
Specialization

Advantages:

Workers can become more skilled if they focus on one task rather than lots.
Work is produced and finished quicker
Workers can concentrate on a task in which they are most good at.

Disadvantages:

Workers and production will become independent
Work will become boring if workers are doing…

Page 7

Preview of page 7
Monetary factors
Non-monetary factors
Gender ­ woman want to start families
Ethnic origin
Taxation
State benefit



Non monetary costs of unemployment

Loss of skills
Health
Family breakdown



Duration of employments varies in:

Skills and training
Qualifications
Age




Disadvantages of trade to the UK

Competition
Economic dependency
Unstable commodity prices
Power…

Page 8

Preview of page 8
Food in supermarkets
Imported consumer goods
Direct imports of expensive things.

Other factors that affect sales of imports and export

Style and image
Quality
Reliability

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all resources »