Circular Flow of Income and National Income Statistics
Economics · JC 2 · Introduction to Macroeconomics and National Income · 1.º Período

Circular Flow of Income and National Income Statistics

Students examine the circular flow of income and how national income is measured. They will assess the limitations of using GDP as a measure of standard of living.

MOE Syllabus OutcomesSEAB GCE A-Level H2 Economics (9757), Theme 3: The National and International Economy, 3.1.1 Circular flow of income as an interactive modelSEAB GCE A-Level H2 Economics (9757), Theme 3: The National and International Economy, 3.1.1 Measurement of national income and standard of living

About This Topic

Students examine the circular flow of income and how national income is measured. They will assess the limitations of using GDP as a measure of standard of living.

Key Questions

  1. How is national income measured?
  2. What are the injections and withdrawals in an economy?
  3. How effective is real GDP per capita in measuring standard of living?

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Edited by Adriana Perusin, Editor-in-Chief, Flip Education
Synthesized by Flip Education from Lyman's Think-Pair-Share collaborative-discussion routine (1981)