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IGCSE - Unit 4 well rated 100%
Aggregate Demand 
Total Demand in the economy (expenditure + exports + investment + government spending) 
 
 
Aggregate Supply 
Total Supply in the economy. 
 
 
00:07 
01:33 
 
 
 
Balance of Payments (BOP) 
The measure of financial transactions that one country has with the rest of the world. 
 
 
Balanced Budget 
Government income = government expenditure 
 
 
Basket of Goods 
A variety of goods and services that stays the same from month to month and is used to construct the CPI. 
 
 
Budget...