Term
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Definition
| Average income from the sales of each individuals good |
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Term
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Definition
| when the value of one currency rises in value to another |
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Term
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Definition
| A record of all financial transactions between the Uk and the rest of the world |
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Term
| Balance of Payments(current account) deficit |
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Definition
| When the value of the UKs exports of goods and services are less than the value of imported goods and services |
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Term
| Balance of payments(current account)surplus |
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Definition
| When the Uks exports of goods and services are greater than the values of imported goods and services |
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Term
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Definition
| The part of the current account that records the sales and purchase of physical items between the UK and the rest of the world |
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Term
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Definition
| Circumstances that could prevent a firm from successfully joining a market |
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Term
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Definition
| The interest rate set by the bank of England that influences market interest rates |
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Term
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Definition
| When government spending is greater than tax revenue |
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Term
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Definition
| When the government tax revenue exceeds expenditure |
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Term
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Definition
| A financial institution which is entirely owned by its members |
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