Market prices depend on levels of supply and demand. These levels rise and fall according to a number of factors, and can have a big impact on the success of a business.
Which best describes 'market price'?
When customers buy products
The amount customers pay for items when supply equals demand
The place where buyers and sellers trade products
What is the most likely cause of an increase in demand?
What is the most likely cause of an increase in supply?
What does an interest rate cut usually mean?
Which of the following is a tax on company profits?
What does a fall in the value of the pound mean?
Lower import prices
Lower export prices
What is a recession?
A fall in the value of the pound
A fall in inflation
A fall in the level of economic activity
A jumper is made in the UK and sold in the USA. To the American economy, what is this an example of?
Which of the following is a tax on imports?
What happens to the value of the pound when the exchange rate goes up?