the state of a country or region in terms of the production and consumption of goods and services and the supply of money

the rate at which the prices of goods and services rise over time, meaning money gradually loses value

Is UK Government action led by the economy?

Citizenship

How does the Government get its money?

Why should we pay tax?

How does the Government spend its money?

What are the financial challenges facing local government?

Should public services be privatised?

Pupils learn what the economy is, what taxes are and consider local and central government spending and risk management.

How does the economy work?

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

Depiction or discussion of famine, disease, natural disasters.

Depiction or discussion of violence or suffering

Depiction of war, threats of war, death or the aftermath of war.

the system of trade, industry and money in a country

the rate at which prices rise, affecting the value of money

the total value of all goods and services produced in a country

a period where a country's overall financial activity decreases

Match the term to its correct definition.

Fill in the blank: The UK Government may raise {{}} during strong economic times to prevent inflation from rising too fast.

limiting pay increases for public servants

Which of the following is **not** a way the Government responds during a recession?

It can lead to cuts in public services, affecting vulnerable people.

It increases government debt in the long run.

Why might some people feel that the Government should avoid implementing austerity measures?

Which of these is a feature of a healthy economy?

All countries were equally able to buy supplies, regardless of economic status.

Governments reduced healthcare spending to focus on other priorities.

Governments avoided spending money during the pandemic to prevent debt.

Richer countries could afford more medical equipment, protection and vaccines.

How did the economy influence government action during the height of the Covid-19 pandemic?

Which member of the Cabinet is responsible for overseeing the work of HM Treasury?

to take money away from businesses and individuals with no benefit

to fund public services and government spending

to ensure that businesses always make a profit

Fill in the blank: The main tax taken form a person's pay is known as {{}} tax.

planning income and expenses to manage money effectively

taking money from a lender with an agreement to repay it later

setting aside money for future use, often in a bank account

protections and entitlements when buying goods or services

the extra money a person needs to pay back for having loan

Match the terms to the correct definitions.

a monthly report on the UK’s economic performance

a global agreement on economic policies between countries

a yearly statement where the Government outlines its spending and taxation plans

Is UK Government action led by the economy?

Lesson outcome

Content guidance