OCR GCSE Citizenship Studies The economy, finance and the media overview quiz quiz

The total amount earned before any deductions are taken off, also known as gross pay

A tax that is charged on the profits made by businesses rather than on workers

The take-home pay left after deductions such as income tax and National Insurance

Money that the government borrows in order to cover the gap in its yearly budget

It automatically increases the wages that your employer pays you each month

It completely removes the need for you to pay any income tax on your earnings

It guarantees that you will get a full refund on every single purchase you make

It helps you live within your means, avoid harmful debt and save for the future

Of satisfactory quality, fit for purpose and as described

The cheapest version of the product that is available anywhere on the market

Bought only with cash rather than with a card or any other payment method

Sold to the customer without giving them any kind of receipt for the purchase

Only the government and nobody else who lives in the country

Only the banks and the other financial institutions in the country

Businesses, workers, consumers and the government

Only very large companies, but not small businesses or workers

The total amount the government owes built up over many years of borrowing money

A tax that is charged on goods brought into the country from abroad as imports

The profit that a business makes once all of its running costs have been paid

The gap in a single year between government spending and the money it raises

The total amount the government owes, built up over many years of borrowing

The gap in a single year between the government's spending and its income

The total amount of tax that the government collects from people each year

The money that is owed by ordinary households rather than by the government

Newspapers that are simply given away to the public completely free of any charge at all to readers

Media that can report and publish without being controlled or censored by the government

Media that never makes any mistakes at all in the stories it reports to the public

Media that is owned and run directly by the government rather than private owners

Setting the rates of income tax that everyone in the country has to pay

Passing brand new laws and putting them onto the statute book for the country

Holding those in power to account by investigating and reporting on them

Running the elections in which people vote for their members of Parliament

The CPS

The Bank of England

Parliament

Ofcom

Misinformation is false information shared by mistake; fake news is false information spread deliberately

There is no real difference at all between the two of them, and both of the terms simply mean exactly the very same thing

Fake news is always completely true, while misinformation is the only one that is ever false

Misinformation is only ever found in printed newspapers and never anywhere online at all

1998

2020

2016

2010

The Crown Prosecution Service

The House of Lords

The United Nations (UN)

Ofcom