GDP

Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country's borders in

Theme 2: The UK Economy

Globalisation

Globalisation refers to the process of increasing economic, social, and cultural integration across borders through trad

Theme 4: A Global Perspective

GNI

Gross National Income (GNI) is the total income earned by nationals of a country, including income from investments abro

Theme 2: The UK Economy

Government Failure

Government failure occurs when government intervention causes greater welfare loss than the market failure it attempts t

Theme 1: Introduction to Markets and Market Failure

Government intervention in markets

Government intervention in markets involves regulatory actions to address market failures, promote competition, protect

Theme 3: Business Behaviour and the Labour Market

Government Spending

Government spending (G) includes expenditure on goods and services (NHS, education, defence), investment (infrastructure

Theme 2: The UK Economy