Topic 2 keywords

Created by: keyur
Created on: 05-12-16 10:22

austerity?

A government measure to reduce the amount of money it spends , resulting in difficult financial conditions for a population.

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Benefits

money and other financial support (such as reduced bus and train fares or provision of housing) that the government provides for people who are unable to get any other income.

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bonds

A certificate that shows you have bought the debt from a company or the government, in return for which the company or government pays a fixed amount of money in interest each year.

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deficit

money expenditure than income; more money paid out than coming in.

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disposable income

the money that is left over from your income after you have paid all of your expenses and have put any savings aside.

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economy

the state of a country relating to the amount of money that is in the system and the production and consumption of goods and services.

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gilts

a high-interest, very secure government bond.

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net income

the money that is left over from your income after government tax and charges have been duducted.

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quantitative easing

a government policy that allows the Bank of England to put more money into the economy by creating more electronically and then buying government bonds

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recession

a period of economic downturn which means less money moving around the economy; people spend less, wages decrease, unemployment increases, company profits decrease, and so on.

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Revenue

the income of an organisation or government.

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Subsidise

pay part of a bill or pay some money towards a big expense

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Surplus

more income than expenditure; more money coming in than being paid out.

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Other cards in this set

Card 2

Front

money and other financial support (such as reduced bus and train fares or provision of housing) that the government provides for people who are unable to get any other income.

Back

Benefits

Card 3

Front

A certificate that shows you have bought the debt from a company or the government, in return for which the company or government pays a fixed amount of money in interest each year.