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Summary A/l Edexcel Economics Unit 2 Keywords
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Keywords of Edexcel Economics unit 2
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Available practice questions
Edexcel A/L Economics - Formulas
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Flashcards
10 Flashcards
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Some examples from this set of practice questions
1.
How to Calculate CPI(Consumer Price Index )?
Answer: 01. Identify a base year and set the index as 100 02. Identify a basket of goods bought by an average household and calculate the weightage which is a proportion of the household income spent on each item 03. Do a price survey for the basket of goods 04. Multiply the weightage and the price change of each good or service 05. Add the TOTAL = CPI INFLATION RATE
2.
Multipler Formulas
Answer: 01. Change in national income / Change in autonomous spending 02. 1 / ( 1 - MPC ) 03. 1 / MPW
3.
Average Propensity to Consume ( APC )
Answer: Total Consumption / Total Income
4.
Marginal Propensity to Consume ( MPC )
Answer: Change in Consumption / Change in Income
5.
Average Propensity to Save ( APS )
Answer: Total Saving / Total Income
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