P5
Economic Cycle – A cycle that shows how the economy is changing naturally over certain periods of
time.
Economic Growth – Where the economy is growing by the increase in goods and services being
produced whilst population is increasing.
Inflation – Where there is an increase in price of goods and services within a period of time meaning
that the good or service is less likely to be purchased.
Interest Rate – A percentage of extra money that needs to repaid back on top of a loan.
GDP – Gross Domestic Product is the value of all goods and services within a country.
Employment/Unemployment – Employment is when someone already has a job and is currently
working whereas Unemployment is when someone doesn’t have a job but is looking for a job.
Competition – A business rivalry where they try to reach their business aims such as increasing
profits and market in order for one business to try and be more successful than the other.
1.
Factor UK Belgium
Population 64.88 million 11.26 million
Inflation Rate 1% 1.81%
GDP $2848.76 bn $454.04 bn
Interest rates 0.25% 0%
Employment/ Employment: 74.5% Employment: 62%
Unemployment rates Unemployment: 4.9% Unemployment: 8%
Competition within country Samsung Microsof and Samsung Microsof and
Google Google
2.
Population
In the UK – The UK has much more population as Belgium meaning that Apple will atract much
more customers in the UK than Belgium due to how high the UK population is. As a result of this
Apple will build their reputation in the UK leading to an increase in profits and market share within
the country.
In Belgium – Belgium’s population is 52.38 million smaller than the UK which shows that Apple will
not increase as much profits and market share as they would.
Inflation
In the UK – The inflation rate is prety low so inflation wouldn’t Apple in any way at all because
despite the fact that inflation makes customers less likely to purchase products that increase in
price the price of Apple’s products would not increase that much meaning that their customers
would still be willing to purchase Apple’s products.
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Economic Cycle – A cycle that shows how the economy is changing naturally over certain periods of
time.
Economic Growth – Where the economy is growing by the increase in goods and services being
produced whilst population is increasing.
Inflation – Where there is an increase in price of goods and services within a period of time meaning
that the good or service is less likely to be purchased.
Interest Rate – A percentage of extra money that needs to repaid back on top of a loan.
GDP – Gross Domestic Product is the value of all goods and services within a country.
Employment/Unemployment – Employment is when someone already has a job and is currently
working whereas Unemployment is when someone doesn’t have a job but is looking for a job.
Competition – A business rivalry where they try to reach their business aims such as increasing
profits and market in order for one business to try and be more successful than the other.
1.
Factor UK Belgium
Population 64.88 million 11.26 million
Inflation Rate 1% 1.81%
GDP $2848.76 bn $454.04 bn
Interest rates 0.25% 0%
Employment/ Employment: 74.5% Employment: 62%
Unemployment rates Unemployment: 4.9% Unemployment: 8%
Competition within country Samsung Microsof and Samsung Microsof and
Google Google
2.
Population
In the UK – The UK has much more population as Belgium meaning that Apple will atract much
more customers in the UK than Belgium due to how high the UK population is. As a result of this
Apple will build their reputation in the UK leading to an increase in profits and market share within
the country.
In Belgium – Belgium’s population is 52.38 million smaller than the UK which shows that Apple will
not increase as much profits and market share as they would.
Inflation
In the UK – The inflation rate is prety low so inflation wouldn’t Apple in any way at all because
despite the fact that inflation makes customers less likely to purchase products that increase in
price the price of Apple’s products would not increase that much meaning that their customers
would still be willing to purchase Apple’s products.
1|Page
