Consumer Price Index (average basket of goods to help measure inflation)
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15
Define personal finance
Personal Finance is the money individuals receive and how they use it.
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Other team wins 25 points!
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15
What does the government do with our tax money?
A percentage of the earnings is taken by the government to spend on society as a whole.
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15
What does Austerity mean?
The general public/normal people cannot afford to spend much money.
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15
Describe inflation and what it affects
The cost of living increasing. Things such as food, petrol and utility bills will be affected by inflation.
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15
What policies are in the Government budget that would affect personal finance?
For instance, the interest rates set by the Bank of England and the annual Budget set out by the Chancellor of the Exchequer both influence personal financial d
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15
What Give some example of the things that the government spend on?
NHS, Defence, Public Services, Pensions, Education, welfare(benefits), Public order and safety, Social services, Transport,, Industry, Agriculture, Employment
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15
Public spending can take place at both national and regional levels. True or False?
True
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15
Our contribution to the economy and to society is made through financial choices such as:
Job Paying tax Saving Giving to charity Borrowing Spending Investing
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15
What does surplus mean?
More money than expected - after paying or more money coming in