IB Chapter 1.5 Definitions

An increase in GDP for two consecutive quarters

Any measure taken by government to safeguard its industries from overseas competitors

When the general price level in an economy continuously rises

The value of a countrie's currency in terms of other currencies

Moral values and judgements that society believes businesses ought to consider

The fluctuation in the level of business activity over time, e.g. booms and recessions

The number of people in the workforce who are willing & able to work but can't find employment

The removal of government rules and regulations to encourage more competition

An analytical framework used to examine the opportunities & threats of the external environment

Measure of the price of money by the amount charged for borrowing or offered on saved money