Economics GCSE
Markets and exchange
What Markets and exchange means in Economics GCSE, as defined for AQA.
Definition of Markets and exchange
Check what you remember
Read the wording for your board, then hide it and explain Markets and exchange in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The financial and physical exchanges between groups, including the physical exchange of labour, goods and services as well as money.
Topics that use Markets and exchange
- Economic activity (AQA GCSE)
Related terms
- Basic economic problem
- Circular flow of income
- Consumers
- Distribution of wealth and income
- Economic agents
- Economic welfare
- Goods
- Government
Using Markets and exchange 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.
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