Business Studies

GCSE Chapter 1-5

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Market Economy

An market economy that operates according to the forces of demad supply,without interferance by the state

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Planned Economy

Planned economy (or directed economy) is an economic system in which the state or workers' councils manage the economy.

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Mixed Economy

An economic system that combines private and state enterprises

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Unemployment

A measurement reflecting the number of people actively looking for, but unable to find work.

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Inflation

In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.

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Economic Growth

Economic growth is a term used to indicate the increase of per capita gross domestic product (GDP) or other measure of aggregate income. It is often measured as the rate of change in GDP. Economic growth refers only to the quantity of goods and services produced.

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Stakeholders

People who have an interest in the organisation at any level, or at any distance both internal and external, eg customers, shareholders, clients, employees, landlords, board members, suppliers, contractors.

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Nationalisation

The process where the government takes a private company and places it in state ownership. Generally this is done "for the greater good". The idea being that the company, its customers and its staff are better off in the hands of politicians than shareholders.

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Fiscal Policies

Fiscal policies are the regulations, plans and laws implemented by the government on all things related to the economy and spending.

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Monetary Policies

Monetary policy is the process a government, central bank, or monetary authority of a country uses to control (i) the supply of money, (ii) availability of money, and (iii) cost of money or rate of interest to attain a set of objectives oriented towards the growth and stability of the economy.

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