Economics SLMLV | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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How will a rise in interest rates affect you? Who will benefit more out of a rise in these interest rate? Lenders or borrowers?

It'll be more difficult to borrow money and easier to loan money which is why the lenders will profit more than the borrowers

Why is Price Stability important for an economy?

As it ensures greater economic certainty and prevents countries products from loosing international competitiveness

What is balance of payments stability?

The record of a countries economic transactions with other countries

What is economic growth and why is it important

An increase in the output of an economy in the long run in order to increase productive potential and raise living standards

What will happen if inflation levels rise

The price of goods and services will increase

What is GDP

Gross Domestic Product