Economics P1 November 2023 SECTION A 1.2

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• part of household spending that is independent of the level of income
• maintains the view that markets are inherently stable
• maintains the view that markets are inherently stable
• when an organisation or a country is released from its obligation to repay a loan
• cooperation between countries to adopt common monetary and fiscal policies
• the process of adding new assets, such as machinery and equipment, to the existing stock
• focuses on using science and technology to promote industrialisation
• an economic indicator that relates to the cost of living
• maintains the view that markets are inherently unstable