Which letter represents demand?
'D'
Which way do the supply line face on-demand5 and supply chart?
Upwards
The 2 central sectors are household and?
Firms
Hyper inflation causes the value of the currency to...
Decrease
GDP is
Gross Domestic product
which way does the demand line point
Down
Supply is controlled by
Producers
Savings, taxation and imports are all examples of?
Leakages
A fall in the average price level of an economy
Deflation
GDP per capita is defined as
a measure of the economic output of a nation per person.
Does demand represent consumers or producers?
Consumers
Supply relies on
The producers
Injections include:
Investments, Government Spending, Exports
When countries print money to artificially inflate their value it?
devalues the currency.
How is GDP measured
All money spent by consumers, businesses, and government
Two goods for which an increase in the price of one reduces the demand for the other...
Complements
Supply is changed and affected as a result of
The consumer's willingness to buy
Imports and exports can
A type of inflation caused due to a rise in the cost of production.
Costpush
A recession is
An economic cycle contraction in which there is a general decline in economic activity.
Which way would a demand line move during a shift in the chart?
Right
A movement in the supply curve will occur when
The price of the good changes and the quantity supplied changes by the original supply relationship
If a household puts money into savings, where will the money go?
Into banks, then taken out as investments for firms, leaking back into households.
A type of cost-push inflation caused due to demand for higher wages.
Wage-push inflation
How do we use GDP to measure the success of a country's economy
by representing the value of all goods and services produced over a time period within a country's borders