Personal finance and the economy 0.0 / 5 ? Business Studies & Economicskey termsGCSEAQA Created by: Rrumeza13Created on: 05-12-16 10:21 what does the term austerity mean? A government measure to reduce the amount of money it spends. 1 of 6 Does personal values have any impact on how an individual manages money? yes 2 of 6 what is recession? less money moving around the economy 3 of 6 what does the term national debt mean? the government borrows money to spend on public spending. 4 of 6 what is meaning of living wage? a wage which is high enough to maintain a normal standard of living. 5 of 6 what is the meaning of personal finance? the money individuals receive and how they use it 6 of 6
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