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economics (economic performance (GDP (total value of all goods and…
economics
economic performance
GDP
total value of all goods and services produced or consumed within an economy in a given period of time usually one year.
economic growth
an increase in the amount of goods and services produced per head of the population over a period of time
inflation
A general and sustained rise in the average price of goods and services within an economy over a period of time. It is a loss in the purchasing power of money
unemployment
the unemployed are people who are registered as able,availableandwillingtoworkatthegoingwagerateinasuitablejobbutwhocannotfindworkdespiteanactivesearchforwork
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government, business, economy
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productivity
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Business can improve it’s productivity by improving labour, capital or the processes of the business
living standards
standerd of living
he level of material welfare of a community, class or person
household work voluntary work ‘cash’ transactions not included in tax returns second-hand sales home grown products and services eg: farm or garden produce, car maintenance
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