Distinguish between the level of unemployment and the rate of unemployment.
Explain why a government might find the goal of full employment difficult to achieve.
Explain how a government might tackle structural unemployment.
Define what an economist means by the term 'inflation'.
Examine which groups within society might be most affected by a permanent rise in prices.
Briefly state two reasons why inflation may be considered to be an economic problem.
Explain why deflation might be considered to be an economic problem.
Explain the factors, which may give rise to an unequal distribution of (a) income and (b) wealth.
Evaluate the different approaches, which a government can adopt to reduce the degree of inequality in a society.
Statistics indicate that over the past decade the distribution of income in many countries has become more unequal. Identify two reasons why this may have occurred.
In relation to taxation, explain the meaning of the terms (a) equity and (b) efficiency.