Understand the factors that affect how households spend, save, and borrow money, including aspects like income, interest rates, and consumer confidence, as well as variations among different households and changes over time.

Quick explanation

Understand the factors that affect how households spend, save, and borrow money, including aspects like income, interest rates, and consumer confidence, as well as variations among different households and changes over time

• This point belongs to Households, especially Households outcomes.
• You need to be able to understand the factors that affect how households spend, save, and borrow money, including aspects like income, interest rates, and consumer confidence, as well as variations among different households and changes over time.
• The key ideas to know are Identify, Describe, and Explain.
• Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.