Economics A-Level
Economy
What Economy means in Economics A-Level, as defined for AQA.
Definition of Economy
Check what you remember
Read the wording for your board, then hide it and explain Economy in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
A core principle that the administrative cost of collecting the tax should be minimal compared to the revenue generated.
Topics that use Economy
- Fiscal policy (AQA A-Level)
Related terms
- Aggregate demand and supply
- Aggregate supply
- Automatic stabilisers
- Budget balance
- Budget deficit
- Budget surplus
- Crowding out
- Direct taxes
Using Economy in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Economics questions
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