A fall in real GDP for two consecutive periods of 6 months. There is a large decline in economic activity across an economy.
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Card 7
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A percentage of their earnings a person pays to the government to fund public services
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Card 8
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A prediction of sales revenue based on the historical number of sales made and current market research and trends
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Card 9
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The process of predicting what a business's future sales will be
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Card 10
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An estimate of income and expenditure for a business covering a set period of time
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Card 11
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One of a succession of averages of data, where each average is calculated by successively shifting the interval by the same period of time
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Card 12
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A line that goes roughly through the middle of all the scatter points on a scatter graph. The closer the points are to the line of best fit, the stronger the correlation
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Card 13
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A method that allows a business to predict future levels of sales from past figures
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Card 14
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As estimate of income and expenditure for a business covering a set period of time
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Card 15
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The difference between the budgeted amount and actual amount for each item in a budget
