AQA A level d economics paper 2 Test d With d Answers

AQA A level economics paper 2 Test With
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Answers[verified]


Aggregate Demand - ANSWER:The total level of planned real expenditure on goods and
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services within an economy in a given period
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Inflation - ANSWER:A sustained increase in the general price level
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Interest Rate - ANSWER:The reward for saving money and the cost of borrowing money
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Budget Surplus - ANSWER:When total tax revenue exceeds total government spending
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Budget Deficit - ANSWER:When total government spending exceeds total taxation
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Globalisation - ANSWER:The process in growing integration of the worlds economy (setting up
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abroad)



Absolute Advantage - ANSWER:The ability of a country to produce a good using fewer
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resources than another country
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Comparitive Advantage - ANSWER:The ability of a country to produce a good at a lower
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opportunity cost than another country
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