AS-Level AQA 2025 Economics Paper 2 questions with
100% Correct answers.
What are the roles of moneyCorrect Answermedium of exchange, store of value, unit of account and a
mean of deferred payment
What is meant by money being a mean of deferred paymentCorrect AnswerAllows it to be widely
accepted way to value a debt allowing you to acquire goods now and pay in the future
What is meant by money being a store of valueCorrect AnswerReferring to an asset that it's value can be
retrieved at a later date as money allows purchasing power to be transferred from the present to the
future
What is meant by money being a unit of accountCorrect AnswerAllows money to give thing a value that
can be expressed in an understandable way e.g. a bar of chocolate is £3
What are the criteria of moneyCorrect AnswerDurable
Portable
Must be divisible
Accepted by everyone
Limited in quantity
Complex enough to prevent counterfeit
What is economic growthCorrect AnswerGrowth in GDP over time
What is GDPCorrect AnswerThe total market value of goods and services produced in an economy in a
year
How is the rate of economic growth calculated?Correct AnswerRate of Economic growth = (change in
GDP between year 1 and year 2 /GDP in year 1) x 100
, How do you calculate GDP per capitaCorrect AnswerGDP divided by population
What does GDP per capita measure?Correct AnswerThe average income of each person in the country
and helps to compare living standards between countries
What is real GDPCorrect AnswerGDP adjusted for inflation
What are causes of economic growthCorrect AnswerInvestment in capital goods
Technological development
Education and training
Labour productivity
The size of the workforce
Natural resources
What are benefits of economic growthCorrect Answera rise in material living standards, a reduction in
poverty, a rise in the welfare of the population, a rise in employment and a fall in unemployment
What are the costs of economic growthCorrect Answer-environmental costs
-inflation
-inequalities in income and wealth
-Loss of renewable resources
What are the main government objectivesCorrect AnswerA balance of payments
Low levels of unemployment
Sustainable levels of economic growth
Price stability
What is the reward for labourCorrect AnswerWages
100% Correct answers.
What are the roles of moneyCorrect Answermedium of exchange, store of value, unit of account and a
mean of deferred payment
What is meant by money being a mean of deferred paymentCorrect AnswerAllows it to be widely
accepted way to value a debt allowing you to acquire goods now and pay in the future
What is meant by money being a store of valueCorrect AnswerReferring to an asset that it's value can be
retrieved at a later date as money allows purchasing power to be transferred from the present to the
future
What is meant by money being a unit of accountCorrect AnswerAllows money to give thing a value that
can be expressed in an understandable way e.g. a bar of chocolate is £3
What are the criteria of moneyCorrect AnswerDurable
Portable
Must be divisible
Accepted by everyone
Limited in quantity
Complex enough to prevent counterfeit
What is economic growthCorrect AnswerGrowth in GDP over time
What is GDPCorrect AnswerThe total market value of goods and services produced in an economy in a
year
How is the rate of economic growth calculated?Correct AnswerRate of Economic growth = (change in
GDP between year 1 and year 2 /GDP in year 1) x 100
, How do you calculate GDP per capitaCorrect AnswerGDP divided by population
What does GDP per capita measure?Correct AnswerThe average income of each person in the country
and helps to compare living standards between countries
What is real GDPCorrect AnswerGDP adjusted for inflation
What are causes of economic growthCorrect AnswerInvestment in capital goods
Technological development
Education and training
Labour productivity
The size of the workforce
Natural resources
What are benefits of economic growthCorrect Answera rise in material living standards, a reduction in
poverty, a rise in the welfare of the population, a rise in employment and a fall in unemployment
What are the costs of economic growthCorrect Answer-environmental costs
-inflation
-inequalities in income and wealth
-Loss of renewable resources
What are the main government objectivesCorrect AnswerA balance of payments
Low levels of unemployment
Sustainable levels of economic growth
Price stability
What is the reward for labourCorrect AnswerWages
