5.2 Economic Factors

• The Gross Domestic Product (GDP) measures the total value of goods and services produced within a country
• What does the unemployment rate measure?

  Jobless workforce percentage
• How does high inflation affect the quality of life?

  Reduces purchasing power
• Inflation is the rate at which the general level of prices for goods and services is rising
• High inflation can erode purchasing power
• High GDP often leads to better public services and higher incomes.


  True
• What is the current unemployment rate in Japan?

  2.5%
• Japan's unemployment rate is around 2.5%, providing financial security for many workers.


  True
• High consumer confidence in Japan boosts domestic spending
• A higher GDP often translates to higher incomes and improved public services.


  True
• What is inflation?

  The rate at which prices rise
• What is the unemployment rate?

  Jobless workforce seeking employment
• How does a high GDP impact quality of life?

  Higher incomes and better services
• High unemployment leads to financial insecurity
• Japan's inflation rate has been maintained around 0-1% in recent years.


  True
• Higher consumer confidence in Japan creates more jobs and opportunities
• Monetary policies are controlled by the central bank to manage interest rates and money supply.


  True
• Which country experienced hyperinflation in the 2000s?

  Zimbabwe
• What role do economic factors play in determining the quality of life?

  Influence income, jobs, affordability
• Inflation is the rate at which the general level of prices for goods and services is rising.

  True
• A high Gross Domestic Product (GDP) often leads to higher incomes
• High unemployment leads to financial insecurity and lower standards of living.


  True
• What is the primary effect of high unemployment on quality of life?

  Financial insecurity
• What is the impact of high unemployment on quality of life?

  Lower standards of living
• Japan ranks 3rd in the world in terms of GDP
• What has helped maintain the purchasing power of Japanese consumers in recent years?

  Low inflation
• What is the Gross Domestic Product (GDP)?

  Total value of goods and services produced within a country
• Match the economic factor with its impact on quality of life:

  Gross Domestic Product (GDP) ↔️ High GDP often leads to higher incomes and better public services.

  Inflation ↔️ High inflation can erode purchasing power and reduce quality of life.

  Unemployment Rate ↔️ High unemployment leads to financial insecurity and lower standards of living.

  Consumer Confidence ↔️ Higher consumer confidence boosts spending and economic growth.
• High inflation can reduce the purchasing power of consumers.


  True
• Higher consumer confidence boosts spending
• High inflation can make it harder for people to afford essential goods.


  True
• What is the rank of Japan's GDP in the world?

  3rd
• What is the current unemployment rate in Japan?

  2.5%
• What are fiscal policies?

  Government spending and taxation
• Match the policy with its description:

  Employment Initiatives ↔️ Programs to increase job opportunities and reduce unemployment.

  Social Welfare Programs ↔️ Support systems for vulnerable populations.
• High unemployment in Germany in the 2000s led to reduced living standards and increased inequality.


  True