Data sources — primary vs secondary?
Primary data collected for this specific purpose.
Interpreting tables — first step?
Identify what metric or data is being displayed.
GDP — purpose?
Measure economic output and growth.
Recession — characteristic?
Sustained decline in economic activity.
Inflation — main drivers?
Consumer confidence, wages, energy costs, exchange rates.
Unemployment rate — limitation?
Does not capture labour-market quality or underemployment.
Labour productivity — definition?
Output per unit of labour.
Comparing economies — indicators?
GDP, inflation, unemployment.
Living standards — material?
Income, consumption, tangible resources.
Budget balance — types?
Balanced, deficit, surplus.
Teste tes connaissances avec un QCM de 10 questions sur Understanding Economic Data and Policy.
1. Which statement best describes primary data?
2. Why does the origin and purpose of data matter when making a decision?
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