 What is the difference between the RPI and the CPI?  What do you understand by these terms?  What is the base rate at the moment?  What is the MPC?  What is the Balance of Payments?  This provides evidence for P4

 For this task you will consider the structure of the local business environment by looking at the range and types of business and their impact on and significance to the local economy. To answer this you need to explain the characteristics of the local business environment.

 Tell me about ‘Markets’ and ‘The Legal Framework’.  What are the 3 different markets that exist in the economy?  Give at least 3 reasons why certain markets change in the economy – e.g. Fashions and Lifestyles  Using Open-Mind Draw a mind-map for ‘The Legal Framework’.  Write a paragraph in your word document under ‘markets’ about why legislation is so important.