6.1.1 Business cycle: • Main stages of the business cycle, e.g. growth, boom, recession, slump
• Impact on businesses of changes in employment levels, inflation and Gross Domestic Product (GDP)
6.1.2 How government control over the economy affects business activity and how businesses may respond:
• Identify government economic objectives, e.g. increasing Gross Domestic Product (GDP)
• Impact of changes in taxes and government spending
• Impact of changes in interest rates
• How businesses might respond to these changes
Questions and suggested answers
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