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chapter 25 - Business and Economy - Coggle Diagram
chapter 25 - Business and Economy
Types of economy?
Free enterprise
centrally planned
mixed
Economic Depression (from a period of prolonged recession)
BENEFITS
Lower government expenditure
Higher government revenue
Higher employment
Higher business profits and sales
Confidence
Economic Recoveries
Econonmic variables
Inflation
Calculating rate of deflation= (index pricex 100)/Previous price
Deflation
Impact of inflation
Government
Business
Consumers
Challenges/ opportunities
Interest Rates
Impact of low interest rates
Impact of high interest rates
Taxation
Taxation policy
Impact of taxation (higher/lower)
government
business
conusmer
economic growth
Gross domestic product (GDP)
Gross National Profit (GNP)
the economic cycle
economic boom
economic recession
Exchange rates
impact of exchange rates (increasing/decreasing)
government
businesses
consumers
challenges/opportunities
Unemployment
Impact of changes in unemployment rates (decreasing and increasing)
Government
Business
Consumer
Challenges/opportunities
Impact on the enconomy
Positive
Standard of living
Employment
Community development
Tax Revenue
Negative
Inflation
Infrastructure
Competition
Environment