Economics A-Level
National income
What National income means in Economics A-Level, as defined for AQA.
Definition of National income
Check what you remember
Read the wording for your board, then hide it and explain National income in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The total monetary value of all final goods and services produced within an economy over a specific period, usually a year.
Topics that use National income
- The circular flow of income (AQA A-Level)
Related terms
- Circular flow of income
- Economic growth
- Economic welfare
- Full employment income
- Inflation
- Injections
- Living standards
- Macroeconomic equilibrium
Using National income in the exam
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