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28
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11/01/2023
Economics
Inflation - A Level Economics Notes
607
•
11 Jan 2023
•
H
@ighjjh
Inflation and Unemployment: A Comprehensive Guide for AQA A-Level Economics... Show more
Smart Tools NEW
Transform this note into: ✓ 50+ Practice Questions ✓ Interactive Flashcards ✓ Full Mock Exam ✓ Essay Outlines
This page delves deeper into cost-push inflation and its causes, which is essential knowledge for AQA A-level Economics students.
Cost-push inflation occurs when production costs increase, leading to higher prices. Key causes include:
Definition: Cost-push inflation is characterized by shifts in the short-run aggregate supply (SRAS) curve, resulting in higher price levels and lower real GDP.
The page provides a detailed diagram illustrating how cost-push inflation affects the economy, showing the inward shift of the SRAS curve.
Example: A rise in oil prices can lead to higher production costs across various industries, causing an inward shift of the SRAS curve and resulting in a higher general price level.
The impact of commodity prices on inflation is also discussed:
Highlight: Understanding the relationship between commodity prices and inflation is crucial for analyzing cost-push inflation in A-level Economics.
This page explores how foreign economies can impact UK inflation, an important topic for AQA A-level Economics students studying the impact of foreign economies on UK inflation.
The UK is described as an open economy, which means it engages in international trade. This openness has several implications for inflation:
Highlight: The interconnectedness of global economies means that UK inflation is influenced by both domestic and international factors.
The page also discusses advantages and disadvantages of an open economy, including:
Advantages:
Disadvantages:
Example: Rising wages in other countries can lead to a fall in the natural rate of unemployment in the UK, as more people become economically active.
The page concludes with a brief comparison of inflation and deflation, reinforcing key concepts for students.
This final page provides a comprehensive comparison of different types of inflation, essential for AQA A-level Economics students studying types of unemployment and inflation.
The page clearly distinguishes between:
Highlight: Understanding the differences between these concepts is crucial for analyzing economic situations and policy responses.
The page includes a list of factors that can contribute to different types of inflation, such as:
Example: An increase in the price of steel would be an example of a factor contributing to cost-push inflation.
The page concludes with detailed AS/AD diagrams illustrating both demand-pull and cost-push inflation. These diagrams show how shifts in aggregate demand or aggregate supply curves affect price levels and real GDP.
Vocabulary: AS/AD diagrams (Aggregate Supply/Aggregate Demand) are essential tools for visualizing and analyzing macroeconomic concepts in A-level Economics.
This comprehensive overview of inflation types and their graphical representations provides students with a solid foundation for understanding these crucial economic concepts.
This page introduces fundamental concepts related to inflation and its impact on the economy.
Definition: Inflation is a general increase in the price of goods and services over time.
Vocabulary: Disinflation refers to a falling rate of inflation that remains positive, while deflation is an actual decrease in the average price of goods and services.
The negative effects of deflation on the economy are explained, including:
The page also introduces demand-pull inflation, a key concept in A-level Economics. This occurs when aggregate demand exceeds aggregate supply, often during economic boom cycles.
Example: Demand-pull inflation can be caused by factors such as rapid credit growth, high levels of consumption, and overall increases in aggregate demand.
A diagram illustrates how shifts in aggregate demand can lead to demand-pull inflation, showing the relationship between price levels and real GDP.
Highlight: Understanding the causes and effects of different types of inflation is crucial for analyzing economic conditions and policy responses.
Our AI Companion is a student-focused AI tool that offers more than just answers. Built on millions of Knowunity resources, it provides relevant information, personalised study plans, quizzes, and content directly in the chat, adapting to your individual learning journey.
You can download the app from Google Play Store and Apple App Store.
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
App Store
Google Play
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
H
@ighjjh
Inflation and Unemployment: A Comprehensive Guide for AQA A-Level Economics
This guide provides an in-depth look at inflation, unemployment, and related economic concepts, essential for AQA A-Level Economics students. Key topics covered include:
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
This page delves deeper into cost-push inflation and its causes, which is essential knowledge for AQA A-level Economics students.
Cost-push inflation occurs when production costs increase, leading to higher prices. Key causes include:
Definition: Cost-push inflation is characterized by shifts in the short-run aggregate supply (SRAS) curve, resulting in higher price levels and lower real GDP.
The page provides a detailed diagram illustrating how cost-push inflation affects the economy, showing the inward shift of the SRAS curve.
Example: A rise in oil prices can lead to higher production costs across various industries, causing an inward shift of the SRAS curve and resulting in a higher general price level.
The impact of commodity prices on inflation is also discussed:
Highlight: Understanding the relationship between commodity prices and inflation is crucial for analyzing cost-push inflation in A-level Economics.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
This page explores how foreign economies can impact UK inflation, an important topic for AQA A-level Economics students studying the impact of foreign economies on UK inflation.
The UK is described as an open economy, which means it engages in international trade. This openness has several implications for inflation:
Highlight: The interconnectedness of global economies means that UK inflation is influenced by both domestic and international factors.
The page also discusses advantages and disadvantages of an open economy, including:
Advantages:
Disadvantages:
Example: Rising wages in other countries can lead to a fall in the natural rate of unemployment in the UK, as more people become economically active.
The page concludes with a brief comparison of inflation and deflation, reinforcing key concepts for students.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
This final page provides a comprehensive comparison of different types of inflation, essential for AQA A-level Economics students studying types of unemployment and inflation.
The page clearly distinguishes between:
Highlight: Understanding the differences between these concepts is crucial for analyzing economic situations and policy responses.
The page includes a list of factors that can contribute to different types of inflation, such as:
Example: An increase in the price of steel would be an example of a factor contributing to cost-push inflation.
The page concludes with detailed AS/AD diagrams illustrating both demand-pull and cost-push inflation. These diagrams show how shifts in aggregate demand or aggregate supply curves affect price levels and real GDP.
Vocabulary: AS/AD diagrams (Aggregate Supply/Aggregate Demand) are essential tools for visualizing and analyzing macroeconomic concepts in A-level Economics.
This comprehensive overview of inflation types and their graphical representations provides students with a solid foundation for understanding these crucial economic concepts.
Access to all documents
Improve your grades
Join milions of students
By signing up you accept Terms of Service and Privacy Policy
This page introduces fundamental concepts related to inflation and its impact on the economy.
Definition: Inflation is a general increase in the price of goods and services over time.
Vocabulary: Disinflation refers to a falling rate of inflation that remains positive, while deflation is an actual decrease in the average price of goods and services.
The negative effects of deflation on the economy are explained, including:
The page also introduces demand-pull inflation, a key concept in A-level Economics. This occurs when aggregate demand exceeds aggregate supply, often during economic boom cycles.
Example: Demand-pull inflation can be caused by factors such as rapid credit growth, high levels of consumption, and overall increases in aggregate demand.
A diagram illustrates how shifts in aggregate demand can lead to demand-pull inflation, showing the relationship between price levels and real GDP.
Highlight: Understanding the causes and effects of different types of inflation is crucial for analyzing economic conditions and policy responses.
Our AI Companion is a student-focused AI tool that offers more than just answers. Built on millions of Knowunity resources, it provides relevant information, personalised study plans, quizzes, and content directly in the chat, adapting to your individual learning journey.
You can download the app from Google Play Store and Apple App Store.
That's right! Enjoy free access to study content, connect with fellow students, and get instant help – all at your fingertips.
App Store
Google Play
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.
Stefan S
iOS user
This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.
Samantha Klich
Android user
Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.
Anna
iOS user
Best app on earth! no words because it’s too good
Thomas R
iOS user
Just amazing. Let's me revise 10x better, this app is a quick 10/10. I highly recommend it to anyone. I can watch and search for notes. I can save them in the subject folder. I can revise it any time when I come back. If you haven't tried this app, you're really missing out.
Basil
Android user
This app has made me feel so much more confident in my exam prep, not only through boosting my own self confidence through the features that allow you to connect with others and feel less alone, but also through the way the app itself is centred around making you feel better. It is easy to navigate, fun to use, and helpful to anyone struggling in absolutely any way.
David K
iOS user
The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!
Sudenaz Ocak
Android user
In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.
Greenlight Bonnie
Android user
very reliable app to help and grow your ideas of Maths, English and other related topics in your works. please use this app if your struggling in areas, this app is key for that. wish I'd of done a review before. and it's also free so don't worry about that.
Rohan U
Android user
I know a lot of apps use fake accounts to boost their reviews but this app deserves it all. Originally I was getting 4 in my English exams and this time I got a grade 7. I didn’t even know about this app three days until the exam and it has helped A LOT. Please actually trust me and use it as I’m sure you too will see developments.
Xander S
iOS user
THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮
Elisha
iOS user
This apps acc the goat. I find revision so boring but this app makes it so easy to organize it all and then you can ask the freeeee ai to test yourself so good and you can easily upload your own stuff. highly recommend as someone taking mocks now
Paul T
iOS user
