Defining Business/ Functions/ Economic Outlook
Give a definition of business? what mission do they have? what constraints? Give examples? Are they all profit? What does kauffman say? what creates value? name 14? define them? explain how they add value?
Name five functions of a business? Define its role?
What happened in 2008? what percent did it contract in how long a month period? what about in 2013? what percent? which countries are better? which are worse? what about the western world? what about China and India? who are also experiencing relativly high levels of growth? why? despite increase everrywhere whats the problem? when will the world economy be more certain? why?
What are the two distinct (if linked) developments? what do all economies do?called? what happens as an economy grow to people? leading them to? what happens when a recession hits? then what happens? what happens next? what happens to the boom? generating? what is the last five years then? is it the same though? particuarly where? How long was the period of growrth before recession? with what exception? when the bubble burst what had happened to UK households? higher than? what did this mena? what did adults owe? higher than? how much of the debt was in property? in what form? what had happened to house prices in 2007? what had happened in the last ten yearS? since august 2007? what was another form of personal debt? how much?e,g,? when is it hard to pay? why? who must take some blame? when were interests cut to far? why was real inflation underestimated? what was to low? what built? what has advanced at a fast pace? e.g.? fueling? at the end of 2012 what was personal debt? compared to 2008?
What went wrong/ Credit Crunch
How can the goverment be criticised? how did this effect the recession? why was this unusal? when did they do this before? why is not clear how much debt there was in 2008? what was the offical figure? what was this higher than? is this unusal for goverment debt? what was unusual? how is te situation worse when world markets are concenred? what was the real level of debt?
why was the financial serices industry hit so hard? what does the UK rely on thsi sector to do? this is less true for who? what was the fasttest growing sector in the UK?how else did it perform well for the UK? how many employed? despite? what was it also a major? earning how much? what percent of GDP?
how can you see the credit crunch? why is it hard to summarise? what was the main contributor? whhere did the problem origenatE? how? what rose? triggering an end to?what happend in the follwoign ea? what was the result? why was the problem not confined to USA? effectivly what had the US done? often in what form? what were these derivatives? how big? what did they become?what ddi the value of derivatives go from? where were these practices also? where could they possibly be made? what were these based on? wat did bank staff do? what happened to the people that made these reckless decisions? what replaced customer-service culture in banks? leading to? what replaced human judgement? based on? who was responsible for labelling investmnt products? based on? when did they get paid thogh? so what did they do? to assure? what was the result? what happened when property prices fell?what ddid they stop? who also hastened the credit crunch? in particular what pracice? what is it?
Goverment Responses/ Public Policy
when a country slips into recession what does the goverment do?known as? what are the four steps? how many were taken in this one? called? what did the UK devalue? reduced? what was increased? mainly to do what though? rather than? what has restricted the goverment takeing steps? what mad eit worse in 2010? why? what have goverments int eh eurozone found? what have they had to use? what have they been unable to do? why? why are some in even worse postns? what perpetuates the downturn? what about tthe USA? what is low though? why?
what do political leaders often faced? what is the aim to eliminate? stimulate what? and keep what low? is it easy? what do most euorpean and the UK follow? what does this invovle setting? e.g.? what is the goverment able to do? what is the problem though? whats harder? whats the alternative approach? which is? what si the risk? what happens then? when did this work? why did it work though? name four ways economic growth comes about? what are likely? why? what is liely? what would it rquire though? what is the best? what does this require? what is the key point to grasp? what is the ultiamte soloution?