Economics 3.2

2. The impact of interest rates on the spending and savings habits of citizens, affecting their propensity to demand in the economy.
3. The expenditure by households on goods and services in the product market.
8. Total value of goods and services demanded by different groups at a given price level in an economy. It is the sum of the expenditure categories that make up GDP at a specific price level.
10. As the average price level falls, the wealth of participants in the economy increases in real terms as their ability to purchase goods and services improves.
11. The regulations and agreements that control imports and exports to foreign countries.
12. When consumers’ real income increases as the price of a product declines, so consumers can buy more of a product; one explanation for the law of demand.
14. A measure of a nation's total trade
15. A set of policies designed to protect domestic firms from the competition of foreign firms in the domestic firms market. This includes policy action such as tariffs, quotas and subsidies.

1. The effect of the relative price level of imports and exports on people’s propensity to demand in the economy.
4. When consumers substitute relatively lower-priced goods when the prices of those goods decline, thereby consuming more of them; an explanation for the law of demand.
5. Total monetary value of all final goods and services produced within an economy in a given period of time.
6. The interest rate with inflation taken into account
7. The value of a currency in terms of another.
9. All expenditures made by a government, which are used to fund public services, social benefits, and investments in capital.
13. A sustained increase in the general price level over a period of time.