Automatic stabilisers - Study guides, Revision notes & Summaries

Absolute advantage When a country's output of a product per unit of input is greater than that of any other country. Absolute poverty When a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) The total demand/spending in an economy at a given price level over a given period of time. Made up of consumption, investment, government spending and net external demand. Aggregate Supply (AS) The total amount of goods and services that c...

Globalisation: The process by which the world is becoming a single economy Sustainable Development: Development that meets the needs of current generations without compromising the needs of future generations Transfer Pricing: An account technique used by TNC's for reducing taxes on profits. By buying internally to ensure losses in high tax countries and profits declared in low tax regions. Capital Markets: Financial Markets which provide long-term borrowing and lending...

ALL IB Economics SL Terms Absolute poverty - ANS-The inability of an individual or a family to afford a basic standard of goods and services, where the standard is absolute and unchanging over time. Absolute poverty is defined in relation to a nationally or internationally determined 'poverty line', which determines the minimum income that can sustain a family in terms of its basic needs. Actual output - ANS-The quantity of output actually produced by an economy. Ad Valorem Taxes - ...

Absolute advantage - When a country's output of a product per unit of input is greater than that of any other country. Absolute poverty - When a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) - The total demand/spending in an economy at a given price level over a given period of time. Made up of consumption, investment, government spending and net external demand. Aggregate Supply (AS) - The total amount of goods and services that can be ...

ALL IB Economics SL Terms Absolute poverty - ANS-The inability of an individual or a family to afford a basic standard of goods and services, where the standard is absolute and unchanging over time. Absolute poverty is defined in relation to a nationally or internationally determined 'poverty line', which determines the minimum income that can sustain a family in terms of its basic needs. Actual output - ANS-The quantity of output actually produced by an economy. Ad Valorem Taxes - ...

Edexcel A-Level Economics Exam 2024 Questions & Answers 100% accurate! Absolute advantage - ANSWERSWhen a country's output of a product per unit of input is greater than that of any other country. Absolute poverty - ANSWERSWhen a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) - ANSWERSThe total demand/spending in an economy at a given price level over a given period of time. Made up of consumption, investment, government spending and net exte...

Edexcel A-Level Economics A: Definitions Exam 2024 Questions & Answers(graded A) Absolute advantage - ANSWERSWhen a country's output of a product per unit of input is greater than that of any other country. Absolute poverty - ANSWERSWhen a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) - ANSWERSThe total demand/spending in an economy at a given price level over a given period of time. Made up of consumption, investment, government spending an...

Key Summary Notes for the AQA A-level Economics course on Automatic Stabilizers part of the Fiscal Policy Topic, guaranteed to boost you to the top grades.

Absolute advantage - When a country's output of a product per unit of input is greater than that of any other country. Absolute poverty - When a person does not have the income or wealth to fulfil their basic needs. Aggregate Demand (AD) - The total demand/spending in an economy at a given price level over a given period of time. Made up of consumption, investment, government spending and net external demand. Aggregate Supply (AS) - The total amount of goods and services that can be supp...

3 policies to take a BOP deficit - qualified answers deflation, devaluation and direct controls absolute advantage - qualified answers a country has absolute advantage if it can produce more of a good than other countries from the same amount of resources accelerator - qualified answers is a change in the level of investment in new capital goods induced by a change in national income or output advantages of FDI - qualified answers increases aggregate demand, increased productive c...