Business GCSE
Economic Climate
What Economic Climate means in Business GCSE, as defined for OCR.
Definitions of Economic Climate
Exam boards and our study guides word this term in slightly different ways. Learn the version your board uses.
The overall state of the economy, usually measured by factors like consumer income, unemployment, and interest rates.
The overall state of the economy, including factors like employment levels, consumer income, and inflation.
Topics that use Economic Climate
- Influences on business (OCR GCSE)
- The economic climate (OCR GCSE)
Related terms
- Disposable Income
- Ethics
- Sustainability
- Consumer Income
- Globalisation
- Inferior Goods
- Multinational Company (MNC)
- Normal Goods
Using Economic Climate in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
Practise Business questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Business GCSE terms7 days Premium · Then free forever · No card, no charge