Role of Financial Markets Financial markets?are any place or system that provides buyers & sellers the means to exchange goods/services & trade?financial instruments These include bonds, eq...
Market-orientated Strategies Market-orientated strategies?are strategies that?create the conditions?for private individuals & firms to pursue economic activity with the aim of?maximising profit...
Economic Factors That Influence Growth & Development Data shows that?economic growth?has a very positive impact on?economic development In most cases?growth precedes development, but his is not...
Measures of Development Economic development?is the sustainable increase in living standards for a country, typically characterised by increases in life span, education levels, & income There a...
Inequality Income & wealth inequality are two different concepts Income inequality?refers to the unequal distribution (flow) of income to households i.e rent, wages, interest & profit Wealt...
Absolute & Relative Poverty Absolute poverty?is a situation where?individuals cannot afford?to acquire the?basic necessities?for a healthy & safe existence These necessities include shelter...
Measures of International Competitiveness International competitiveness?refers to how well a country's products compete in international markets Competitiveness can change over time In order to mak...
Exchange Rate Systems An?exchange rate?is the price of one currency in terms of another e.g. ￡1 = €1.18 International currencies are essentially?products?that can be bought & sold on the?foreig...
Components of the Balance of Payments The?Balance of Payments (BoP)?for a country is a record of all the financial transactions that occur between it and the rest of the world The?BoP?has two main ...
