C I G Flashcards
1
Q
define consumption
A
total expenditure in the economy by households on all goods and services
2
Q
define investment
A
spending on capital goods
3
Q
what are the factors affecting consumption
A
tax rates wages income credit wealth interest
4
Q
What’s gov spending
A
Money expended by the gov
5
Q
What are imports
A
Goods and services bought by UK residents and firms from foreigners
6
Q
What are exports
A
Goods and services sold to foreigners by UK firms.
