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When considering what is needed of any a level essay question, the best place to start is the mark scheme for past papers.

These mark schemes give a consise explanation of what is needed to ac...

Inflation is defined as "a sustained increase in the general price level." The accepted method of measuring inflation is by observation of change in the Consumer price index (CPI), which is ...

Cost push inflation is the result of an increase in the price of the factors of production e.g. labour, raw materials. For example, an increase in the pr...

GDP (output) is affected by consumption, investment, government spending and net exports. A fall in the interest rate have a varying effect upon each of these. Consumption is likely to increase as sav...

Macro economics is the larger picture, how the economy works for the whole country or region. Micro economics examines how things work in a smaller level, examining one industry, business or group of invi...