Money 0.0 / 5 ? EconomicsMoneyGCSEAQA Created by: elsie.walshxxCreated on: 03-12-15 12:10 What is income? Income is the total money recieved from a persons wage/salary, interest and dividneds 1 of 14 Name the 5 stages of the personal lifecycle Childjood, Adolescence, Young Adult, Middle Adult, Old Adult 2 of 14 Name 3 factors that affect demand Could Have: How muh the product cost. Quality of the product. How the product in marketed. Target Market. Fashion. Competiton. Economic State 3 of 14 Give an example of complements Shampoo and Conditioner. petrol and Cars. Strawberries and Cream 4 of 14 Give an example of substitutes Butter and Margarine. 5 of 14 if you borrow £1,000 for 6 months from a company that charges an interest rate of 10%, how much will you have to pay back? £1050 6 of 14 What is a benefit? The advantages of a particular choice 7 of 14 Name 3 benefits of demand to the customers Lower prices, greater variety, better quality 8 of 14 Give an example of an opportunity cost Buying a car instead of going on holiday. Choosing a chocolate bar rather than sweets. 9 of 14 Give 5 examples of ways to save High street banks, online banks, post office card account, national savings/investments, ISA's, fixed term investment accounts, unit trusts 10 of 14 Give some examples of fringe benefits Company Car, Health Insurance, Free Food, Free Holidays, Discounts 11 of 14 Who would you go to if you have a serious debt problem? A Financial Advisor 12 of 14 What's a budget? A financial plan for future income and spending 13 of 14 What does the law of demand state? The quantity demanded for a good rises as the price falls, with all other things staying the same 14 of 14
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