Economics Concepts Quiz

The spending that consumers must make even if they have no disposable income/ The consumption spending that occurs when income levels are zero

A year with very small price changes or price fluctuations. The current base year used by the Reserve Bank is 2015

Used when calculating GDP according to the production method. Represents the production costs of firms

Long-term funds are borrowed and saved here by consumers and business enterprises. The market for long-term financial instruments, for example, bonds, shares

A continuous flow of spending, production,on and income between different sectors

An economy that has no foreign sector as a participator

Total spending on final goods and services by individuals and households

When the national content adds up The total expenditure of the four major sectors of the economy: C + G + I + (X - M)

Goods and services produced locally and then sold for consumption outside the borders of the country

The market where factors of production are traded, e.g. labour market