Employment and consumer incomes are rising this is called an economic growth. There is a high demand for goods and services.
As businesses produce and sell more,they employ more and pay people more, and make more profit for themselves while still boosting our economy
When employment and cosumer incomes are falling this is called recession and the demands for good and services falls.
The credit crunch was when international banks had made too many bad loans. It affected housing market, car manufacturing and the building industry. Businesses closed such as Woolworths
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