Economics GCSE
Phillips Curve
What Phillips Curve means in Economics GCSE, as defined for Pearson Edexcel.
Definition of Phillips Curve
An economic concept showing an inverse relationship (trade-off) between the rate of inflation and the rate of unemployment.
Topics that use Phillips Curve
- Relationships between objectives and policies (Pearson Edexcel GCSE)
Related terms
Using Phillips Curve in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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