Real life eg

• What is the definition of economic growth?

  Increase in production of goods and services
• How is economic growth typically measured?

  By GDP
• What has driven China's economic growth since the 1980s?

  Market-oriented reforms and industrialization
• What sectors have driven India's economic growth after 1991?

  IT, services, and manufacturing sectors
• What helped Western Europe recover economically after WWII?

  The Marshall Plan
• What is inflation?

  Rate at which prices rise, eroding purchasing power
• What extreme economic situation did Zimbabwe face in the late 2000s?

  Hyperinflation
• What was the impact of hyperinflation in Venezuela during the 2010s?

  Prices for basic goods skyrocketed
• What happened to the British pound after the Brexit vote in 2016?

  It fell, leading to increased import prices
• What is the definition of unemployment?

  Percentage of labor force that is jobless
• What was the unemployment rate in the U.S. during the Great Recession?

  Over 10%
• What caused a spike in unemployment during the COVID-19 pandemic?

  Lockdowns and business closures
• What youth unemployment issue did Spain face after the 2008 financial crisis?

  High levels of disenfranchisement among youth
• What is income inequality?

  Unequal distribution of income and wealth
• What is a significant characteristic of income inequality in the U.S.?

  The wealthiest 1% hold a large share
• What does South Africa's Gini coefficient indicate?

  High levels of income inequality
• What issue persists in Brazil despite economic growth in the 2000s?

  Income inequality remains a major issue
• What is the definition of supply and demand?

  Relationship between availability and desire for goods
• How does OPEC influence oil prices?

  By controlling oil supply
• What happened to vaccine demand during the COVID-19 pandemic?

  Demand surged, leading to scarcity
• What has caused skyrocketing property prices in cities like London?

  High demand and low supply
• What is monetary policy?

  Government policies managing money supply and interest rates
• What was the purpose of quantitative easing in the U.S. and Europe?

  To inject liquidity and lower interest rates
• What did the European Central Bank do during the Eurozone crisis?

  Introduced ultra-low interest rates
• Why has the Bank of England lowered interest rates recently?

  To stimulate borrowing and investment
• What is fiscal policy?

  Government spending and tax policies
• What did the U.S. government do in response to COVID-19 in 2020?

  Passed massive stimulus packages
• What austerity measures did Greece implement after the 2008 financial crisis?

  Spending cuts and tax increases
• What has been a topic of debate in the UK regarding the NHS?

  Public spending during economic recession
• What is the definition of trade and globalization?

  Movement of goods, services, and capital across borders
• What impact did Brexit have on trade relationships?

  Significant changes in tariffs and regulations
• What was a consequence of the US-China trade war?

  Disrupted global supply chains
• What was the purpose of NAFTA, later renegotiated to USMCA?

  To address trade imbalances and labor standards
• What is the definition of environmental economics and climate change?

  Policies relating to environmental conservation
• What is the goal of the Paris Agreement?

  To limit global warming to below 2°C
• What economic policy did Canada implement to reduce greenhouse gas emissions?

  A carbon tax
• What is the aim of the Green New Deal in the U.S.?

  To tackle climate change and promote growth
• What is the definition of market structures?

  Nature of competition in a market
• What is a characteristic of tech giants like Google and Facebook?

  They dominate their respective markets
• What concern arises from large companies dominating agricultural markets?

  Pricing and market control issues