How the Economy Works 0.0 / 5 ? EconomicsEconomic GrowthGCSEOCR Created by: ilonareidrevisingCreated on: 16-05-17 09:07 What is the definition of Economic Growth? Economic Growth is the change of output of the total value of goods produced (GDP) in an Economy in one year. 1 of 5 What is the Balance of Payments? The balance of exports and imports into and out of an economy over time. 2 of 5 Whats the first line when it says- 'Evaluate'? We will have to look at the cost benefit analyasis 3 of 5 What are the 4 factors of Production? Land, Labour, Capital, Enterprise 4 of 5 What is link between inflation and Unemployment? The Economist Kaynes suggetsed a link be 5 of 5
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