1.3.1 The withdrawal of money from the circular flow
1.3.2 A summary of the various indicators of the same type into a single value
1.3.3 The exchange rate is determined by market forces with intervention by the central bank
1.3.4 The increase in the capacity of the economy to produce more goods and services
1.3.5 The processing of natural resources into finished products
1.3.6 The lowest interest rate charged by commercial banks to their best clients. - NSC Economics - Question 1 - 2023 - Paper 1
Question 1
1.3.1 The withdrawal of money from the circular flow
1.3.2 A summary of the various indicators of the same type into a single value
1.3.3 The exchange rate is determ... show full transcript
Worked Solution & Example Answer:1.3.1 The withdrawal of money from the circular flow
1.3.2 A summary of the various indicators of the same type into a single value
1.3.3 The exchange rate is determined by market forces with intervention by the central bank
1.3.4 The increase in the capacity of the economy to produce more goods and services
1.3.5 The processing of natural resources into finished products
1.3.6 The lowest interest rate charged by commercial banks to their best clients. - NSC Economics - Question 1 - 2023 - Paper 1
Step 1
3.1 Give the term for The withdrawal of money from the circular flow
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Answer
Leakages
Step 2
3.2 Give the term for A summary of the various indicators of the same type into a single value
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Answer
Composite indicator
Step 3
3.3 Give the term for The exchange rate is determined by market forces with intervention by the central bank
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Answer
Managed floating / Controlled floating
Step 4
3.4 Give the term for The increase in the capacity of the economy to produce more goods and services
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Answer
Economic growth
Step 5
3.5 Give the term for The processing of natural resources into finished products
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Answer
Manufacturing
Step 6
3.6 Give the term for The lowest interest rate charged by commercial banks to their best clients
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