Economics

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Define Aggregate Demand
The total demand for a country's goods and services at a given price level and at a given time period
1 of 10
Where does the planned expenditure come from ?
Economic Agents
2 of 10
Name some economic agents
households, firms, government, foreigners
3 of 10
What do households spend money on ?
goods and services
4 of 10
What do firms spend money on ?
wages and raw materials
5 of 10
What does the government spend money on ?
wages and goods and services
6 of 10
What do foreigners spend money on ?
UK made goods and tourism
7 of 10
Define goods
something tangible e.g book
8 of 10
Define services
something untangible e.g haircut/ bus
9 of 10
What is the Aggregate Demand equation?
AD = C+ i
10 of 10

Other cards in this set

Card 2

Front

Where does the planned expenditure come from ?

Back

Economic Agents

Card 3

Front

Name some economic agents

Back

Preview of the front of card 3

Card 4

Front

What do households spend money on ?

Back

Preview of the front of card 4

Card 5

Front

What do firms spend money on ?

Back

Preview of the front of card 5
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