This is one of a set of Powerpoints (and accompanying Notes/Key Terms sheets) that I have created for my own teaching of the macroeconomic topics in the new (linear) AQA AS Economics specification (7135). They follow the order of teaching recommended by the exam board and (generally) the AQA-approved textbook (Powell & Powell, 2015).
Key terms covered in this Powerpoint: (referenced to the specification):
3.2.2.1 The circular flow of income
• What national income measures.
• The difference between nominal and real income.
• Real national income as an indicator of economic performance.
• The circular flow of income concept, the equation income = output = expenditure, and the concepts of equilibrium and full employment income.
• The difference between injections and withdrawals into the circular flow of income.
• The effect of changes in injections and withdrawals on national income.
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