← Economics syllabus

ScotlandEconomics

UK Economic Activity

4 dot points across 4 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

What is inflation, how is it measured, what causes it, and why does the government try to keep it low and stable?

The government objective of controlling inflation: the meaning of inflation, how it is measured by the CPI, its causes, and its effects on the economy.
A focused answer to the SQA National 5 Economics content on the government objective of controlling inflation, covering what inflation means, how it is measured using the Consumer Prices Index, the causes of inflation including demand-pull and cost-push, and its effects on consumers, savers, firms and the economy.
12 min answer →

Why does the government aim for high employment and economic growth, and how are unemployment and growth measured?

The government objectives of high employment and economic growth: types and measurement of unemployment, its effects, and economic growth and its link to living standards.
A focused answer to the SQA National 5 Economics content on the government objectives of high employment and economic growth, covering the types and measurement of unemployment, its effects, and economic growth measured by GDP and its link to standards of living.
12 min answer →

How does the UK government raise money through taxation and spend it, and how does money flow round the economy?

Government finance: direct and indirect taxation, current, capital and transfer spending, and the circular flow of income.
A focused answer to the SQA National 5 Economics content on government finance, covering direct and indirect taxation, the purposes of taxation, current, capital and transfer government spending, and the circular flow of income showing how money moves between households and firms.
12 min answer →

What types of industry make up the Scottish economy, why do areas specialise, and how does Scotland contribute to the UK economy?

Scotland's role in the UK economy: the primary, secondary and tertiary sectors, specialisation, Scotland's contribution to the UK economy, and Scottish entrepreneurs.
A focused answer to the SQA National 5 Economics content on Scotland's role in the UK economy, covering the primary, secondary and tertiary sectors of industry, why areas and countries specialise, Scotland's contribution to the UK economy, and the role of Scottish entrepreneurs.
11 min answer →