UPDATED 2024/2025 MACROECONOMICS DEFINITIONS AQA A LEVEL ECONOMICS

Absolute advantage - RIGHT ANSWER -The producer with the ability to make largest amount particular product using factors of production



accelerator - RIGHT ANSWER -principle of investment theory whereby investment spending by firms responds to change in demand



AD - RIGHT ANSWER -C + I + G + (X-M)



Aggregate demand - RIGHT ANSWER -Sum of all planned spending on domestic output at a given general price level per period



A...