GCSE AQA Economics KeyWords Unit 11 3.5 / 5 based on 2 ratings ? EconomicsGCSEAQA Created by: ryanCreated on: 28-01-13 21:19 Tax Credit a state benefit paid to employees through the tax system 1 of 22 Pensions A benefit paid as of right to those of retirement age who have paid the minimum National Insurance contributions 2 of 22 Taxes a fee levied by a government on a product, income or activity. 3 of 22 ISA Individual Savings Account on which interest is tax free. 4 of 22 Bank/Building Society Account an account for which the main objective is to gain interest and keep money safe. 5 of 22 Post Office card account savings account offered by the Post Office 6 of 22 Annual Equivalent Rate (AER) a figure quoted in savings advertisements to help people compare one savings product with another. 7 of 22 Unit Trusts a pooled investment fund usually based in shares-based investments 8 of 22 Government securities Stocks, bonds and bills of exchanfe issued by a government to raise the funds 9 of 22 Annual Percentage Rate (APR) the interest rate published on loans to help compare their true costs. 10 of 22 Specialisation where each worker concentrates on only one small aspect of the entire production process 11 of 22 Commission Payment made to workers for achieving a certain target. 12 of 22 Gross Pay a worker's pay before any deductions are made 13 of 22 Net Pay pay after all deductions are made. 14 of 22 Income Tax a tax calculated as a percentage of a workers income. 15 of 22 National Insurance Contribution a tax paid by workers which entitles the payee to qualify for benefits when and if necessary. 16 of 22 Exports good and services sold to another country 17 of 22 Imports goods and services bought from another country 18 of 22 Balance of Payments a record of the value of a country's exports, imports and financial transactions with the rest of the world over the year. 19 of 22 Gross Domestic Product (GPD) total value of goods and services produced by an economy in one year. 20 of 22 Commercial Services services which are used and supplied by businesses e.g. banking, training, and transport. 21 of 22 Consumer Empowerment consumers demonstrating their needs, wants and demands through their purchase decisions in the marketplace. 22 of 22
Comments
No comments have yet been made