The collective behaviour of a number of different groups such as businesses, people as employees and consumers, and the government.

Purchase of goods from abroad

The level of output in all sectors of the economy - primary, secondary and tertiary

The total value of all of the economy’s output (measured quarterly or yearly)

Income coming into the UK economy that does not come fro UK households; this comprises investment, government spending and exports.

The (continuous) flow of income from businesses to households as payment for work and from households to businesses as payment for products

The purchase of capital equipment and/or buildings by businesses.

The sale of goods to other countries by UK businesses.

Income that ‘leaks away’ from the economy and so does not get passed back to UK firms from households’ this comprises taxes, savings and imports

The study and analysis of the behaviour of the whole economy