A government measure to reduce the amount of money it spends, resulting in difficult financial conditions for a population.
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Benefits
Money and other financial support that the government provides for people who are unable to get any other income.
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Bonds
A certificate that shows you have bought the debt from a company or the government, in return which the company or government pays a fixed amount of money in interest each year.
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Budget
A plan for how you will use your income, including spending and saving.
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Consumer
Someone who uses or buys goods and services.
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Debt
Money owed to another person or organisation such as a bank.
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Deficit
More expenditure than income; more money paid out than coming in.
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Disposable income
The money that is left over from your income after you have paid all of your expenses and have put any savings aside.
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Economy
The state of a country relating to the amount of money that is in the system and the production and consumption of goods and services
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Expenses
The things that you have to spend your income on.
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Fiscal policy
The decisions a government makes about taxes and what to spend public money on.
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Gilts
A high interest, very secure government bond.
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Income tax
Money deducted from your income by the government to pay for public services such as health and education.
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Income
All the money that you receive, including through work, investments and government benefits.
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Interest rate
The money you pay as a charge for the service of using someone else's money.
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Investment
Something that you buy because it is likely to make you money in the future.
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Mortgage
A large loan to buy a house or property.
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Net income
The money that is left over form your income after government tax and charges have been deducted
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Public spending
How the government spends the money it makes.
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Quantitative easing
A government policy that allows the bank of England to put more money into the economy by creating more electronically and then buying government bonds.
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Recession
A period of economic downturn which means less money moving around the economy; people spend less, wages decrease, unemployment increases, company profits decrease.
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Revenue
The income of an organisation or government.
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Subside
Pay part of a bill or pay some money towards a big expense.
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Surplus
More income than expenditure; more money coming in than being paid out.
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Other cards in this set
Card 2
Front
Benefits
Back
Money and other financial support that the government provides for people who are unable to get any other income.
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