IOC Introduction to Investments Economic Environment

?
  • Created by: lilly557
  • Created on: 02-12-16 09:23
What is a state economy?
The state decides what is produced and how it is distributed.
1 of 216
What are state economys sometimes refered to as and why?
Planned Economys because the production and alloctation of resourcs is planned in advance rather than being able to respond to market forces
2 of 216
What can careful planning and control bring?
Excessive layers of beurocary and state control removes a great deal of choice
3 of 216
What is a Market Economy?
The forces of supply and demand determine how resources are allocated
4 of 216
Interaction of demand from consumers and supply from business in the market will determine______
The Market clearing price
5 of 216
What does the market clearing price reflect?
What the consumers are willing to pay and the price suppliers are willing to accept
6 of 216
What would happen to the price if there is oversupply?
The price will be low
7 of 216
What would happen to the producers if there is oversupply?
Some producers will leave the market
8 of 216
What happends to the price if there is over supply?
The price would be high
9 of 216
What happends to the producers if the price is high?
More producers would be attracted to the market.
10 of 216
Name the three markets within a Market Economy?
Goods , services and productive assets
11 of 216
What does productive assets include?
Productive assets include capital goods (eg Machinary), labour and money.
12 of 216
What in the labour market is the "price"?
The wage
13 of 216
What do people and businesses compete for in a Market Economy?
Jobs and Customers
14 of 216
What type of value will scares resources have?
High value
15 of 216
In a Market econemy what does competiton mean?
Inferior employees and and shares in unsuccessful companies will be much cheaper
16 of 216
What could competition do to an unsuccessful company?
Cause it to collapse and people searching for new jobs
17 of 216
What is a mixed economy?
Combines Market economy with some elements of state control.
18 of 216
What do the government provide in a mixed economy?
A welfare system to support
19 of 216
What will government spend money on?
Defence, education, public transport, health and public services
20 of 216
How to government raise their finances within a mixed economy?
Collecting taxes from wage-earners and companies, VAT on petrol , cigerettes and borrowing in the capital market
21 of 216
What group is one of the largest groups in labour market?
Civil Servants
22 of 216
Within the UK who raises money for the treasury?
Civil servants
23 of 216
What is an open economy?
There are few barriers to trade or controls over foreign exchange
24 of 216
What could happen if a country believes another coutry is taking unfair advantage?
Apply retaliatory action such as sanctions
25 of 216
What is protectionism?
A country prevents other countries from trading freely in order to preserve its domestic market
26 of 216
What are the names of the policies that attempt to reduce fluctuations in economic activity?
Stabillisation Policies
27 of 216
What does the Fiscal policy involve?
Involves making adjustments using government spending and taxations
28 of 216
What is monetary policy?
Involves making adjustments to interest rates and money supply.
29 of 216
What is a Central bank?
It operates at the centre of a nation's fiancial system.
30 of 216
What are some of the responsibilities of central bank?
Actin as banker to the government, manaing the national debt, controlling the money supply, issuing notes and counts
31 of 216
What is the Central bank of the United Kingdom?
The Bank Of England
32 of 216
What acts as the governments banker and the banking system?
The Bank Of England
33 of 216
As well as making services to its customers who else does the Bank of Engalnd Manage?
Uk's foreign exchange and gold reserves
34 of 216
What are the Bank of Engalnds two core purpsoes?
Monetary stability and financial stability
35 of 216
What is Monetary stability?
Means stable prices and confidence in the currcy.
36 of 216
What is financial Stability?
Refers to detecting and reducing threats to the financail system as a whole.
37 of 216
Who takes on the Interest Rate decisions?
The Bank's Monetary Policy Committee.
38 of 216
What is the Monetary Policy Committee role?
Ensure that inflation is kept within a government-set range, set each year by the chancellor of the Exchequer.
39 of 216
How does the Monetary Policy Committee ensure that inflation is within a governemnt set range?
By setting the base rate.
40 of 216
What must the Monetary Policy Committee guage in there meetings?
All factors thatcan influence inflation over both the short and medium term.
41 of 216
List 5 factors that must be gauaged in the Monetary policy Committee?
Exchange rate, the rate at which the economy is growing, how much consumers are borrowing and sope
42 of 216
When setting the basic rate what have you go to be mindful of?
Sustainability of economic growth and employment in the UK and the time lag between a change in rate and effects it will have on the economy
43 of 216
What is quantitative easing?
Central bank creating money, which it then uses to buy assets such as government bonds and high-quality debts
44 of 216
Whats the first step of does creating money ?
Central banks buys assets from private sector institutions and credits the seller's bank account
45 of 216
What is the Second step of creating money?
the seller has money in their bank account so the seller has more money in their account while the central bank holds assets as parts of its reserve
46 of 216
What is the end result of creating money?
More money out in the wider econemy
47 of 216
What effects doe injecting more money into the economy through bonds have?
Sellers of bonds have more money so may spend it which boost growth, Banks find themselves holding more reserves which may lead them to boost their lending to consumers and business again, borrowing increases and so does spending.
48 of 216
What is the overall theory of injecting money into the economy?
Extra money works its way through the economy resulting in higher spending and therefore growth or reducing the impact of recession and preventing the onset of a depression
49 of 216
What is the purpose of preserving finanical stability?
To maintain the three vital functions which the finanical system performs in the economy
50 of 216
What are the three vial functions which the finanical system performs in the economy?
Providing the main mechanism for pay goos, service and financial assets , Intermiating between savers and borrowers and channeling savings into investments via debt and equity instruments, insuring against and dispering risk
51 of 216
What is the role of the Finanical Policy Committee?
The FPC is tasked with monitoring the stabilty and resilence of the UK Finanical system and using its powers to tackle those risk,.
52 of 216
What are the other bank of England Responsibilities?
Managing national debt and providing depositors protection scheme for bank deposits
53 of 216
How many regional banks are in the FED?
12 regional Federal Reserve banks
54 of 216
What do the Federal Reserve banks do?
Monitors the activities of and provides liquidity to the banks in its region
55 of 216
Who makes up Federal Open Market Committee?
Governing board, presidents of 5/12 Federal resrve banks
56 of 216
What does the Chairmen of the FOMC do?
Take responsibility for the committees decisions
57 of 216
What is the European Central Bank responsible for?
Setting monetary policy for the entire eurozone, with the objective of maintaining internal price stability.
58 of 216
What is the Single Supervisory Mechism new framwork?
Banking supervisionin Eurpe and comprises the European Centreal Bank and National Supervisory authorities of participating Eu countires.
59 of 216
What is the Single Supervisory Mechanisim aims?
Ensure the safety and soundess of the European banking system, increase financial integration and stabilityu in europe
60 of 216
How is credit created?
Banks create monet and advance this to industry, consumers and government. The money circulates within the economy being spent on goods and services. Those it is paid to will then deposit it in their own bank accounts allowing banks to create credit
61 of 216
What is inflation?
The persistent increase in the general level of prices
62 of 216
Name two reason why prices increase?
Excess demand in the economy, scarcity of resources
63 of 216
What percentage do western governemnts seek to control inflation at?
2-3% per annum
64 of 216
Name some of the problems caused by high inflation?
Employees find the real value of their salaries eroded, business have to continually update the prices to keep pace with inflation, exports become less competitive
65 of 216
What are the positive aspects of inflation?
Rising house prices, Value of borrower's debt falls , inflation erodes the real value of a countrys national debt
66 of 216
What is deflation
A general fall in prive levels.
67 of 216
How does deflation occur?
Negative demand shcoks e.g. fall in oil prices and from excess capcity and production. It creates a circle of reduced spending and reluncatnt
68 of 216
What are the positives of deflation?
Rise in productitivity, greater price competition
69 of 216
What is the Consumer Prices Index
measure of inflation that is produced in the standard way throughout the EU.
70 of 216
What is excluded from the Consumer Prices Index
Mortagage interest costs
71 of 216
What is the Retail prices Index?
measures the increase in general household spending
72 of 216
What are the two distinct areas what are these?
Wholesale and retail sectors
73 of 216
What activities make up the wholesale sector?
Equity , bonds, foreign exchnage, derivatives and insurance markets
74 of 216
What does the retail sector focus on?
retail banking, insurance, pensions,investment services, financial planning and advice
75 of 216
What is an Equity Market?
Finanical markets and facilitate thje trading in quoted comapnies
76 of 216
What is the largest stock exchange in the world?
New York Sotck Exchange
77 of 216
What is a Multilateral trading facility?
Systems that bring together muliple parties that are interest in buying and selling financial instruments.
78 of 216
What is a retail bankn also known as?
High street bank
79 of 216
What services to retail banks provide?
taking deposits from and lending fund to retail customers, providing payments and money transmisson services.
80 of 216
Other than on the high street banking what else do they provide?
Internet and telephone banking
81 of 216
What do larger retail banks often provide?
Penisons, investments and insurance
82 of 216
What is a saving institution?
They started off by providing specialist saving producvts to retail customers
83 of 216
What is another word for a saving institution?
Building Society
84 of 216
How was a building society started?
A group of people got together and pool their savings allowing some members to build or buy houses.
85 of 216
True or false Building societies are owned by the individuals who have deposited money or borrowed money from them?
True
86 of 216
What are savings instituions often described as?
Mutual societies
87 of 216
What is Demutalistion?
A piece of legislation was put in place allowing buidling societies to become companies
88 of 216
Name one building society that didn't choose to become a company?
Nationwide
89 of 216
What does an investment bank do?
Provides advice and arrange finance for companies that want to float on the stock market
90 of 216
How do investment banks raise additional funds?
By issusing further bonds and shares or carry out mergers and acquisitions
91 of 216
What services usually do investment banks offer?
Corporate fianance and advisory work, banking, investment management, treasury dealings and securitites trading
92 of 216
What is Corporate Fiannce and Advisory work?
Normally in connection with new issues of securities for raising finance, takeovers, mergers and acquitions
93 of 216
Who do investment banks carry out banking for?
Governemnts, institutions and companies
94 of 216
What is treasury dealings?
For corporate clients in foreign currencies with financial engineering servivves to protect them from interest rate and exchange rates fluctuations
95 of 216
What is securities trading?
Is in equitiies , bonds and derivatives and the provision of broking and distribiton facilities
96 of 216
Describe pension funds?
Individuals can make provision for retirement using a variety of pension schemes from employer to self directed schemes.
97 of 216
What do pension funds invest in?
shares, bonds, cash, property.
98 of 216
What is one key function of an insurance company?
To provide a management of risk
99 of 216
How do insurance companies help with protection planning?
They provide prpducts to meet many potential scenarios. E.g. Payment protection policies, mortgages, fleet insurance
100 of 216
What do insurance companies collect in exchange for cover?
Premiums
101 of 216
What are the premium income used to buy?
Investments such as shares and bonds
102 of 216
When will an insurance company realise the investments/
When a claim arises on various policies
103 of 216
What is a fund management?
Fund management is the professional management of investment portfolios for a variety of institutions and private sectors.
104 of 216
What country is the largest centre of fund management in Europe?
The UK
105 of 216
What are fund managers also known as?
investment or asset managers
106 of 216
What is the role of a fund manager?
Run portfolios of investments for others. They invest money held by institutions and collective investment schemes e.g Unit Trusts.
107 of 216
What are the two subdivides for investment managers who bvuy and shell sahres, bonds and other assets to increase the value of their clients?
Institutional and private client fund managers.
108 of 216
What is an institution fund manager?
They work on behalf of institutions e.g. pension or insurance companies
109 of 216
What is an private client fund manager?
Fund managers invest the money of relatively wealthy individuals.
110 of 216
How are clients charged by fund mangers?
Based on a small percetnage of the value of the fund being managed
111 of 216
What is a stockbrokers?
Arrange tradesin financial instruments on behalf of their client. May advise investors about what they should buy or only offer execution only services
112 of 216
How do stockbrokers charge?
Charge fees for their advice and commissions on transactions. Also may charge to look after clients assets
113 of 216
What is a custodian bank?
Bank that specialuise in safe custody services, looking after poltfolios of shares and bonds on behalf of others such as fund managers , pension funds
114 of 216
What are the core actitivies custodian banks undertake?
Holding assets in saferkeeping, Arranging settlement of any purchases or sales of securities, managing cash transactions, processing corporate actions, performing foreign exchange transactions, providing regular reporting on all activites to clients.
115 of 216
What as driven down the charges that a custodian can make for its custody services?
Competition
116 of 216
The custody business is now dominated by a small nmumber of ________
Global custoduians
117 of 216
What is a platform?
Platforms are online services used byu intermediaries such as indpenedent financial advisers to view and administor their clients investment portfolios
118 of 216
What tools do platforms offer advisors?
Can see and alyse a clients overall portfolio and to choose product from them. Provide faciilities for investments to be bought and solf.
119 of 216
What does the term platform refer to?
Both wraps and fund supermarkets.
120 of 216
What is a fund supermarket?
Offer wide ranges of unit trusts and OEICS
121 of 216
What is a wrap supermarket?
Offer greater access to other products such as Individual savings accounts, pension plans and insurance bonds.
122 of 216
What do Wrap accoutn enable advisors to do?
Take a hollistic view of the various assets that a client has in a variety of accounts.
123 of 216
What is a benefit of the advisor using a Wrap accoutn?
Simplifys and brings some level of automation to their back office using internet technology
124 of 216
How do platforms make income?
By charging for their services
125 of 216
What is an advantage of platforms for fund magament groups?
Is the ability of the platgforms to distribute their products to financial advisors
126 of 216
What do Third Party Administrators do?
Undertake investment administrations on behalf of other firms and specialise in the area of the investment industry
127 of 216
Why do more companies outsource?
Enables firms to focus on the cores areas of its businesses and fix its costs and leaves specialist firm to carry out the administrative functions processing more effiently and cost effectively
128 of 216
What is the role of a trade and professional body?
To represent various industry sections and enables cross-frim development to take place to create an efficent market
129 of 216
What is the Trade/Prfessional Body for Bonds?
International Capital MArket Association
130 of 216
What is the Trade/Prfessional Body for Derivatives?
FIA Europe, internation swaps and Derivatives Association
131 of 216
What is the Trade/Prfessional Body for Fund managers?
Investment Association
132 of 216
What is the Trade/Prfessional Body for Insurance Companies?
Association of British Insurers
133 of 216
What is the Trade/Prfessional Body for Private Client Investment Management?
Wealth Management Association
134 of 216
What is the Trade/Prfessional Body for Banks?
British Bankers Association
135 of 216
What is the Trade/Prfessional Body for Investment funds?
Tax incentivised Savings Association
136 of 216
What is the role of a financial Advisor?
Offer advice on financial matters to their clients. Some recommened sutiable finanical products from the whole of the market and other from a norrower range.
137 of 216
How does a financial advisor get the information needed to advise their client?
They will conduct a detailed survey of a client's financial position, prefrences and objectives.
138 of 216
What is independent advice?
They genuinely do make recommendations basd on comprehensive and fair analysis of all products available in the market and provide unbiased, unresticted advice
139 of 216
What is resricted advice?
A firm chooses to only given advice on its own range of products.
140 of 216
Who monitors finanical acitvies of the financial advisors?
The Financial Conduct Authority
141 of 216
When is execution only carried out?
If the customer asks to buy or sell aspecific investment product without having been prompted or advised by the firm..
142 of 216
To ensure that firms operate within regulatory guidelines what evidence do they need?
That they gave no advice and made it slear at the ime of sale that it was not responsible for the product's suitability
143 of 216
What is Robo-Advice?
Application of technology to the process of providing financial advice without the involvement of a financial advisor
144 of 216
How does Robo-Advice Work?
Prospective investor enters data and fiancial information about themselvesand the system uses an algorithm to score the information and decide which investment should be chosen. Then presents the investment strategy.
145 of 216
What is the investment stategy presented passively focused around?
Index funds or exchnage traded funds
146 of 216
What approach is used in the Robo-advice?
Uses asset and risk model, construction of the risk targeted portfolios or funds to achieve a clients objectives then ongoing monitorityunf and rebalcing against those objectives
147 of 216
What is Gross Domestic Product used for?
Measure a country's output. It measures economic actvity on an expenditure basis and is typically calculated quaterly
148 of 216
What are the two distinct groups within an economy?
Individuals and firms
149 of 216
What do the individuals do in an economy?
They supply firms with the productive resources of the economy in exchnage for an incrome. The indivudals use this income to buy the entire output produced by firms employing these resources. This gives rise to the circular flow of income
150 of 216
What three ways can the economic activity be measured?
Total income paid by firms to individuals , individuals total expenditure on firm's output, value of total output generated by firms
151 of 216
The rate of sustainable growth depends on ....?
Growth & productivity of labour force, rate the economy efficently channels its domestics savings and capital attracted from overseas into new & innovativs technology & replaces obsolescent capital equipment, economys infrastucture is maintained
152 of 216
In a mutre econmy what rate does the labour force typically grow at?
1%
153 of 216
What factors is long-term productivity growth dependant on?
Education, training and utilisation of labour-saving new technology.
154 of 216
What will happen to the actual output when the economy is growing in excess of its trend growth rate?
Will exceed potiential output and often with inflationary consequences
155 of 216
What is a country's output contracts?
When its economic growth rate turns negative for atleast two consecutive calendar quaters the economy is saidto be in a recession
156 of 216
Whatis balance of payements?
A summary of all the transactions between the UK and the rest of the world
157 of 216
What happeneds if the UK imports more thanit exports?
There is a balance of payment deficit
158 of 216
What happens if the UK exports more than it imports?
There is a balance of payment surplus
159 of 216
What are the compnents of the balance of payemnts?
Trade balance, the current account and the capital account
160 of 216
How is the trade blance caluclated?
A visable trade balance - the difference between the value of imported and exported goods
161 of 216
What is the invisable trade balance?
difference between of imported and exported services
162 of 216
If a country has a trade deficit what does this mea?
In one of these areas or services they import more than they export
163 of 216
If the UK has trade surplus what does this mean?
It ecports more than it imports
164 of 216
Why is a current account used in the balance of payments?
It is used to calculate the total value of goods and services that flow into and out of a county.
165 of 216
What is comprises within the current account?
The trade balance figures from the visable and invisibles. Also added to these are receipts such as dividends from overseas assets and remittance from national working abroad
166 of 216
What do the results of a current account provide?
Details of the balamnce of trade a country has with the rest of the world.
167 of 216
How does the UK typically run with visable and invisable trade?
The UKK runs a deficit of visbible trade but an invisable trade surplus. Also because it is an open economy imports and exports combined total over 50% of UK GDP
168 of 216
What does the capital account record?
International capital transactions related to investment in business, real estate, bonds and stocks. Also includes tranascations relating to fixed assets, purchase & sale of domestic and foreign investment assets
169 of 216
How do you get the balance of payemnts to balance?
Current account must equal the capital account +/- a balancing item used to rectify the many errors in compling the balance of payments +/- any change in central foreign currency reservces
170 of 216
If there is a current account deficiet resulting from a country being a net importer of overseas goods an services what must it be met by?
A net inflow of capital from overseas taking into account of any measurement errors and any central bank intervention in foreign exchange rate alters.
171 of 216
Why is having the right exchange rate important?
It levels the international trade undertaken to a countrys international competitivemness and its economic position.
172 of 216
If the value of a country's currency rises what will happen the exports and imports?
It will be less competitive, ubless producers reduce their prices and imports will be cheaper therefore more competitive
173 of 216
What would the country'** result be in relation to the currency rise?
Reduce trade surplus or worsen the trade deficit
174 of 216
If the value falls against other currencies what would happen?
Exports will be cheaper in foriegn market and therefore more competitive and imports will be more expensive and less competitive. A trade surplus or deficit will see an improving position.
175 of 216
What is government debt?
This is what the government owes
176 of 216
What is the government deficit?
The shortfall between what the government receives in tax receipts and what its spends.
177 of 216
What is the government debt also refered to as?
The public sector net debt
178 of 216
What is the government deficit also known as?
Public sector net cash requirement
179 of 216
How are debt measures usually presented?
As a percentange of the GDP however we know need to allow for effects such as inflation so we divide by GDP/
180 of 216
How is the Pubic sector net cash requirements calculated?
The diffence between government expenditure and government income.
181 of 216
What will happen in a buoyant economy?
government spending is less that incomne with substantial tax revenue generated from corporate profits and high levels of employment. Enabling the government to reduce public sector borrowing
182 of 216
What happens in a slowing economy?
Government spending tends to exceed tax revenues and the government will need to raise borrowing by issuing government bonds.
183 of 216
Is the UK in a slowing or buoyant economy and why?
A slowing economy because governm,ent deficit exploded due to the reccsion reduce tax receipts & pushed up spending on unemployment benefits. If left unaddressed high levels of public borrowing & debt risk undermining growth & economic stabilty
184 of 216
What could happen to inflation if the excessive government spending causes a ggrowing public sector net cash requirement?
It will rise.
185 of 216
What do high levels of unemployment indicate in the economy?
Low demand in the economy for goods and sercies produced and sold to consumers therefore low demand for UK people to provide them
186 of 216
What impact will high unemployement have on the government?
Negative impact on government's finances as they will need to increase social security payments, and its income will drecrease because of the lack of tax revenuye from unemployed
187 of 216
What are the main characteristics of cash depostis?
Return simply comprises inteerest income with no potiential capital growth, amount invested is repaid in full as the end pf the investment term or when withdrawn
188 of 216
What is instant access account?
The money can be withdraw anytime e.g instant access ISA's
189 of 216
What is a fixed term account?
Fixed for one year or more, or requires notice to be given before monies can be withdrawn
190 of 216
What would the interest be like on a larger deposit?
The will ary because of comeptition however they usually receive a better rate
191 of 216
What happened to the interest generated?
It is liable to income tax which is now paid ggross to investors
192 of 216
In April 2016 there was a new personal savings allowance what did this mean in terms of removing the tax?
The bank will remove tax on up to £1,00 of savings income for basic rate payers and up to £500 for higher rate taxpayers.
193 of 216
Do non-taxpayers have to claim back their tax on savings?
No there is no need for them to apply for a rebate
194 of 216
What are the advantages of investing in cash?
liquidity ease and speed which an investment can be turned into cash to meet spending needs., like a savings vehicle and for the interest return earned on them, safer investments not exposes to market volatility.
195 of 216
What are the disadvantages of investing in cash?
Deposit-taking institutions & risk they might default needs to be taken into account, Inflation reduces the level of reurn , currency risk & different regulatory regimes where funds are invested offshore or in different country, interest rates vary
196 of 216
What is a money market?
Wholesale or institutional markets for cash and are characterised by the issue, trading and redemption of short-dated negotiable securites.
197 of 216
What is a capital market?
Long-term providers of finance for companies through investment either in bonds or shares
198 of 216
Owing to the short- term nature of money markets how are most instruments issued?
Bearer form and at a discount to their face value in orderto save on adminstration associated with registration and payment of interest
199 of 216
Why are money markets investments more suitable for institutional investors?
is oftens sujubect to relatively high minimum subscription
200 of 216
What do both cash deposits and money market instrument provide?
A low risk way to generate an income or capital return while preserving the nominal value of the amount invested.
201 of 216
Can money markets and cash deposits be used long-term/medium term and why?
No because they have underperformed most other asset types and cash deposits have barley been positive once inflation and tax are taken off
202 of 216
What is a Treasury Bill?
they are issued weekly by the debt management office on behalf of the treasury. The money is used for the governments short-term borrowing needs
203 of 216
What is a certificate of deposit?
Issued by banks in return for deposited money you could think of them as tradable deposit accounts as they can be brought and sold similar to shares.
204 of 216
What is commerical paper?
Corporate equivalent of a treasury bill. Issued by large companies to meet their short term borrowing needs.
205 of 216
Who agrees whether a company can issue a commercial paper?
A bank
206 of 216
What is a money market fund?
Is used by banks and companies to manage their liquidity need.
207 of 216
Are money market funds accessible by private investors?
No
208 of 216
What is an advantage of money market funds?
The pooling of funds with other investors gives the investor access to assets around the world which they could not of been invested in.
209 of 216
Is the return greater in money market accounts or money market accounts?
Money market accounts
210 of 216
What is the highest rating offered by a credit rating agency?
AAA
211 of 216
What does it mean if money is placed in a money market account?
They are exposed to the risk of the bank, however they will invest in a range of instruments from many providers as long as they are AAA rated they can offer high levels of security
212 of 216
What were the two money market funds introduced are based on?
The European definations of money market funds that have been adopted by FCA short-term money market funds and money market funds
213 of 216
What are short term money market funds?
cam have a constant or a fluctuating net asset value. A constant NAV face value means they should have an unchanging net asset value when income of funds are acrruded daily can be paid out.
214 of 216
What is the volatility of a Money Market fund like?
Flucatuting net asset value
215 of 216
Where else can Money market funds invest in?
Instruments in which capital is at risk and may not be suitable for many investors & denominated in other currencies and so introduced exchange rate risk.
216 of 216

Other cards in this set

Card 2

Front

What are state economys sometimes refered to as and why?

Back

Planned Economys because the production and alloctation of resourcs is planned in advance rather than being able to respond to market forces

Card 3

Front

What can careful planning and control bring?

Back

Preview of the front of card 3

Card 4

Front

What is a Market Economy?

Back

Preview of the front of card 4

Card 5

Front

Interaction of demand from consumers and supply from business in the market will determine______

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Other resources:

See all Other resources »See all Introduction to investment and securities resources »