Key Terms in Business and Economics

Some key terms necessary of the edexcel exams at AS level Unit 2

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  • Created by: Sophie
  • Created on: 16-01-12 09:27
Abnormal Profit
is any level of profit over and above normal profit
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Capactiy utilisation
measures what proportion of the theoretical maximum possible outpt is actually produced
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Cyclic unemployment
caused by a downturn in the economic cycle
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Seasonal Unemployment
occurs when there is a seasonal variation in demand
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Structural Unemployment
when people have the wrong skills for the employment on offer
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Regional Unemployment
the rate of unemployment in different areas of the Uk
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Frictional Unemlpoyment
when people are in between jobs
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Card 2

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Capactiy utilisation

Back

measures what proportion of the theoretical maximum possible outpt is actually produced

Card 3

Front

Cyclic unemployment

Back

Preview of the front of card 3

Card 4

Front

Seasonal Unemployment

Back

Preview of the front of card 4

Card 5

Front

Structural Unemployment

Back

Preview of the front of card 5
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