Unit 3: Topic 14: Variations in economic activity: aggregate demand and aggregate supply

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Define consumption (C)

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14.1-14.5

5 Terms

1

Define consumption (C)

Measurement of all domestic household spending on goods and services within a given time period

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2

State what factors affect consumption (C)

consumer confidence & income levels

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3

Define Investment (I)

gross domestic private investment; measurement of total spending and investments made by firms on capital equipment

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4

State what factors affect investment (I).

  • future economic predictions

  • interest rates

  • subsidies

  • taxes

  • business confidence

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5

Define net exports (X-M) or (Xn)

total income earned from the sales of exports (X) to foreigners - total amount spent by

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